Niepewność a pieniądz gotówkowy w okresie pandemii: przypadek Polski

Pietrucha, Jacek; Gulewicz, Michał

doi:10.14746/rpeis.2022.84.3.09

Cited by 2 publications

(1 citation statement)

References 10 publications

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“…Kotkowski and Manikowski (2023) explored the factors likely to induce Polish customers to pay cash instead of payment cards during the pandemic. Another study demonstrated the importance of uncertainty related to a pandemic (Pietrucha & Gulewicz, 2022).…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

Cash holding by consumers: The role of the perceived characteristics of money

Acedański,

Maciejewski,

Pietrucha

2024

Int J Consumer Studies

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This study examined why consumers who typically pay electronically at points of sale still carry cash and explained the inertia of demand for cash by considering the additional (perceived by consumers) characteristics of cash. The research was motivated by the growing discussion on why cash, despite the increasing importance of e‐payments, remains a significant part of the demand for money. The study focused on psychological factors and consumers' perceptions of certain features of cash, which make it an attractive additional option for precautionary reasons, and therefore, explored beyond the typical discussion of money as a means of payment. The structural equation modeling based on data collected as part of a survey of Polish consumers was used to verify the hypotheses. It was revealed that cash becomes a reserve solution for consumers, which is kept “just in case” to expand the scope of personal freedom and flexibility in making payments and protect against various potential restrictions and threats related to e‐payments. Consumers' holding of cash as an additional option depends on three key factors: attitude toward cash, particularly the flexibility it offers, unusual purchasing situations, and perceived card or mobile payment risk, considered as a moderator. In the debate on the future of cash, the study supports the position that cash has a place in the modern payment system, although it plays a different role. Cash is a supportive backup solution. Eliminating cash significantly reduces consumer welfare.

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Section: Literature Review and Hypothesesmentioning

confidence: 99%

Cash holding by consumers: The role of the perceived characteristics of money

Acedański,

Maciejewski,

Pietrucha

2024

Int J Consumer Studies

Self Cite

View full text Add to dashboard Cite

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Precautionary cash holding by consumers making electronic payments and risk-taking behavior

Pietrucha,

Maciejewski

2024

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Research background: The relative inertia in holding cash, despite the increasing importance of electronic payments, is one of the most fascinating puzzles of the current monetary system and a significant issue for central bank policy. In our study, we would like to extend the previous considerations regarding holding cash by consumers who have decided to make electronic payments but keep the cash despite this. Purpose of the article: Recent literature mainly considers the trade-off between cash and electronic payments. We go beyond this dual framework and instead focus on the precautionary demand for cash. We study the relevance of several psychological factors behind cash holding by consumers who have decided to use electronic payments. Methods: We employ factor analysis and logistic regression. We use data from a standardized online survey conducted among Polish consumers. Findings & value added: Our study's key determinants of holding cash include risk-taking behavior, perceived risk of the unavailability of the payment infrastructure and perceived attitudes towards cash (flexibility and cybersecurity related to the lack of exposure to cyberattacks). According to our research, consumers attach great importance to the flexibility that cash gives as an additional option to electronic payments. A better understanding of these motivations is crucial for public policymakers, who should strive to design payment systems that respond to the needs of all social groups. Therefore, in (at least) the short and medium term, cash will remain in circulation, even if it gradually loses its payment function.

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Niepewność a pieniądz gotówkowy w okresie pandemii: przypadek Polski

Cited by 2 publications

References 10 publications

Cash holding by consumers: The role of the perceived characteristics of money

Cash holding by consumers: The role of the perceived characteristics of money

Precautionary cash holding by consumers making electronic payments and risk-taking behavior

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