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Consumer Willingness to Share Payments Data: Trust for Sale?

Author

Listed:
  • Michiel Bijlsma

    (SEO Amsterdam Economics
    Tilburg University)

  • Carin Cruijsen

    (De Nederlandsche Bank (DNB))

  • Nicole Jonker

    (De Nederlandsche Bank (DNB))

Abstract

Using Dutch survey data, we show how consumer willingness to allow access to payments data depends on the type of data user (the consumer’s own bank, another bank, or a Big Tech), financial incentives and trust in the data user. Consumers are most willing to grant access to their own bank. Their propensity to share their payments data increases with their trust in the providers of these services. An explicit financial reward can tempt people to accept offers from other providers. Big Tech firms on average have to offer stronger incentives than banks, because people trust them the least.

Suggested Citation

  • Michiel Bijlsma & Carin Cruijsen & Nicole Jonker, 2023. "Consumer Willingness to Share Payments Data: Trust for Sale?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 64(1), pages 41-80, August.
    • Handle: RePEc:kap:jfsres:v:64:y:2023:i:1:d:10.1007_s10693-022-00384-1
    DOI: 10.1007/s10693-022-00384-1
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    References listed on IDEAS

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    Cited by:

    1. Michiel Bijlsma & Carin Cruijsen & Nicole Jonker & Jelmer Reijerink, 2024. "What Triggers Consumer Adoption of Central Bank Digital Currency?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 65(1), pages 1-40, February.

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    More about this item

    Keywords

    Consumers; Discrete choice models; PSD2; Retail payments; Trust; Pricing;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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