COVID-19 pandemic increases the divide between cash and cashless payment users in Europe

Kotkowski, Radosław; Polasik, Michał

doi:10.1016/j.econlet.2021.110139

Cited by 40 publications

(22 citation statements)

References 12 publications

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“…The scale of payments made by households with the use of electronic payment instruments has increased significantly. This was due to both concerns about health safety (information about the possibility of virus transmission via banknotes) and changes in consumer behavior, including the increase in online shopping (Ardizzi et al 2020;Jonker et al 2020;Kotkowski and Polasik 2021;Wisniewski et al 2021). At the same time, however, cash maintenance has increased significantly.…”

Section: Literature Reviewmentioning

confidence: 99%

Drivers of the Cash Paradox

Pietrucha

2021

Risks

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An upward trend in the share of cash in GDP has been observed since the beginning of the 21st century and has not yet been fully explained in the literature. In fact, the interest rate is the only variable that has been well researched and well confirmed as a determinant of the cash/GDP ratio. The novelty of this study is primarily considering new determinants of the share of cash in GDP (including in particular monetization and financial development), as well as testing the significance of uncertainty and institutions. The data cover the period 2001–2020 for 82 countries. The most important conclusions include: the share of cash in GDP is primarily dependent on its lagged values (payment habits) and the ultra-loose monetary policy of central banks. However, some other variables also contribute to this process—such as monetization and crises in the real economy.

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Section: Literature Reviewmentioning

confidence: 99%

Drivers of the Cash Paradox

Pietrucha

2021

Risks

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“…As lockdowns eased, people were once again able to go out and about in society, but the rapid rise in contactless digital interactions brought challenges for many older people (Kotkowski and Polasik, 2021). Cash transactions were discouraged, paper menus had all but disappeared, and QR codes became ubiquitous; not only for COVID-related "checking in" processes in the hospitality industry, but also for digital (and therefore socially distant) communication with waiters, etc.…”

Section: Introductionmentioning

confidence: 99%

Life after lockdown: The experiences of older adults in a contactless digital world

et al. 2023

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IntroductionThe digital response to the Coronavirus (COVID-19) pandemic and its effects on the lives of older adults has been well-documented, but less is known about how they experienced the post-lockdown re-emergence into a relatively contactless digital society.MethodsWe report the findings from a qualitative survey (n = 93) and subsequent interviews (n = 9) with older adults aged 50+, where they describe their struggles with some of the newly implemented digital interactions. These struggles cover a range of settings but include using contactless payments, QR codes and apps to facilitate transactions in cafes, bars, and restaurants.ResultsA thematic analysis of our data revealed the intrinsic (e.g. digital literacy) and extrinsic (e.g. malfunctioning technology) factors that limited social inclusion for these participants, and that sometimes even led to moments of public humiliation.DiscussionOur findings shed light on some of the motivational factors that underpin the age-related digital divide, whilst also highlighting the role of self-directed agism in limiting motivations to learn new digital routines.

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“…Cashless payment is a unique and innovative payment method that allows users to carry out all payment activities for transactions carried out without using cash where; in the past, this new payment method has transformed into one of the most popular and popular options widely used by consumers in Indonesia (Putra, 2021). We can explain this tendency that the number of Indonesian people who use all non-cash payment instruments for financial transactions is increasing, and this is also motivated by the fact that cashless payments can be said to be safer when we compare them to cash payments, especially in transactions involving a certain amount of money to be paid (Kotkowski & Polasik, 2021;Gorshkov, 2022). Therefore, some people believe that carrying or we can say having large amounts of cash can be said to be unwise from a safety or security point of view, considering that there is a high probability that people can be robbed Sentot Basuki Prayitno or experience criminal acts committed by irresponsible individuals if someone carrying large (or one might say enormous) amounts of physical money in one's possessions.…”

Section: Introductionmentioning

confidence: 99%

Consumers’ Willingness to Use PayLater by Integrating TRA and TAM Theories

Prayitno

2023

Journal of Business, Management, and Social Studies

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The willingness to adopt or utilize the PayLater facility as a tool to make cashless transactions as often as possible is still rare. Therefore, to fill this gap, this study tries to integrate the concepts of TRA and TAM to examine the factors that influence the desire of Indonesian consumers to adopt or use PayLater as their main facility (and choice) for purchasing various goods and transaction activities. All participants in this research are Indonesian consumers who have made at least five cashless payments using the PayLater feature as their primary method over the course of the past six months. The information is gathered using a Google Forms-based web survey. This study created a questionnaire and received a total of 178 completed questionnaires. After further review, it was determined that all the data could be used in this research. Purposive sampling was the non-probability sampling technique used in this study to ensure that every respondent met the requirements or specific criteria outlined in this research. Additionally, the data was processed using PLS by analyzing all the information gathered from all the respondents. It is discovered that the four factors—attitudes, subjective norms, perceived usefulness, and perceived ease of use—have a significant impact on determining or altering Indonesian consumers’ desire to use PayLater facilities to carry out payment activities for all types of transactions made by the consumer. By verifying the influence of attitude, subjective norm, perceived usefulness, and perceived ease of use on the desire to use PayLater—which most prior studies have rarely demonstrated—the study adds value to the body of literature on consumer behavior.

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COVID-19 pandemic increases the divide between cash and cashless payment users in Europe

Cited by 40 publications

References 12 publications

Drivers of the Cash Paradox

Drivers of the Cash Paradox

Life after lockdown: The experiences of older adults in a contactless digital world

Consumers’ Willingness to Use PayLater by Integrating TRA and TAM Theories

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