IDEAS home Printed from https://ideas.repec.org/a/kap/mktlet/v33y2022i4d10.1007_s11002-022-09641-8.html
   My bibliography  Save this article

DPS 2.0: on the road to a cashless society

Author

Listed:
  • Nwamaka A. Anaza

    (Southern Illinois University Carbondale)

  • Delancy H. S. Bennett

    (Howard University)

  • Yana Andonova

    (Murray State University)

  • Emeka Anaza

    (James Madison University)

Abstract

While cash will eventually become a thing of the past, marketing researchers have given little attention to the rise of cashless markets and the obstacles and opportunities they present. In fact, research that addresses the strategic approach to planning, coordinating, and executing the cashless adoption and experience for consumers is scant. To stimulate discussion and scholarly investigations into marketing’s contribution toward the evolution of cashless economies, this Idea Corner presents a research agenda that delineates the role of DPS 2.0, a new era of digital payment systems, in fueling the demonetization process. We offer that, compared to traditional payment systems (DPS 1.0), DPS 2.0 provides consumers and merchants cashless, virtual, automated, flexible, faster, and interoperable (The ability of DPS 2.0 systems to be compatible and operable across providers, software, and payment portals) means of payment. However, the promise of DPS 2.0 is clouded with concerns of opportunism, security, and fraud. This paper outlines these issues and provides corresponding future research opportunities within five areas of DPS 2.0 (digital wallets, cryptocurrency, virtual currency, facial recognition, and mobile payments).

Suggested Citation

  • Nwamaka A. Anaza & Delancy H. S. Bennett & Yana Andonova & Emeka Anaza, 2022. "DPS 2.0: on the road to a cashless society," Marketing Letters, Springer, vol. 33(4), pages 693-704, December.
    • Handle: RePEc:kap:mktlet:v:33:y:2022:i:4:d:10.1007_s11002-022-09641-8
    DOI: 10.1007/s11002-022-09641-8
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11002-022-09641-8
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11002-022-09641-8?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Andrzej Cwynar & Beata Świecka & Kamil Filipek & Robert Porzak, 2022. "Consumers' knowledge of cashless payments: Development, validation, and usability of a measurement scale," Journal of Consumer Affairs, Wiley Blackwell, vol. 56(2), pages 640-665, June.
    2. Khiaonarong, Tanai & Humphrey, David, 2019. "Cash use across countries and the demand for central bank digital currency," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 13(1), pages 32-46, March.
    3. Mark R. Gleim & Jennifer L. Stevens, 2021. "Blockchain: a game changer for marketers?," Marketing Letters, Springer, vol. 32(1), pages 123-128, March.
    4. Joowon Park & Clarence Lee & Manoj Thomas, 2021. "Why Do Cashless Payments Increase Unhealthy Consumption? The Decision-Risk Inattention Hypothesis," Journal of the Association for Consumer Research, University of Chicago Press, vol. 6(1), pages 21-32.
    5. Mr. Tanai Khiaonarong & David Humphrey, 2019. "Cash Use Across Countries and the Demand for Central Bank Digital Currency," IMF Working Papers 2019/046, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hoang, Yen Hai & Ngo, Vu Minh & Bich Vu, Ngoc, 2023. "Central bank digital currency: A systematic literature review using text mining approach," Research in International Business and Finance, Elsevier, vol. 64(C).
    2. Sofia Priazhkina & Samuel Palmer & Pablo Martín-Ramiro & Román Orús & Samuel Mugel & Vladimir Skavysh, 2024. "Digital Payments in Firm Networks: Theory of Adoption and Quantum Algorithm," Staff Working Papers 24-17, Bank of Canada.
    3. Li, Fangmin & Yang, Tianle & Du, Min & Huang, Miao, 2023. "The development fit index of digital currency electronic payment between China and the one belt one road countries," Research in International Business and Finance, Elsevier, vol. 64(C).
    4. Shalva Mkhatrishvili & Wim Boonstra, 2022. "What we know on Central Bank Digital Currencies (so far)," NBG Working Papers 01/2022, National Bank of Georgia.
    5. Prescott, Brian C. & Shy, Oz, 2023. "Cash payments and the penny policy debate," Journal of Economic Behavior & Organization, Elsevier, vol. 208(C), pages 80-94.
    6. Xin, Baogui & Jiang, Kai, 2023. "Central bank digital currency and the effectiveness of negative interest rate policy: A DSGE analysis," Research in International Business and Finance, Elsevier, vol. 64(C).
    7. Peterson K. Ozili, 2022. "Circular Economy and Central Bank Digital Currency," Circular Economy and Sustainability, Springer, vol. 2(4), pages 1501-1516, December.
    8. Jakšić Milena & Todorović Violeta & Matić Jelena, 2022. "The Influence of Digital Currency on the Banking Sector in Europe," Economic Themes, Sciendo, vol. 60(4), pages 481-494, December.
    9. Nadia Pocher & Andreas Veneris, 2022. "Central Bank Digital Currencies," Springer Optimization and Its Applications, in: Duc A. Tran & My T. Thai & Bhaskar Krishnamachari (ed.), Handbook on Blockchain, pages 463-501, Springer.
    10. Ozili, Peterson K, 2024. "Thinking Fast and Slow about Central Bank Digital Currencies," MPRA Paper 120774, University Library of Munich, Germany.
    11. Yizhao Jiang, 2022. "The Influence of Payment Method: Do Consumers Pay More with Mobile Payment?," Papers 2210.14631, arXiv.org.
    12. Michele Manna, 2022. "The bonfire of banknotes," Temi di discussione (Economic working papers) 25, Bank of Italy, Economic Research and International Relations Area.
    13. Erik Feyen & Jon Frost & Harish Natarajan & Tara Rice, 2021. "What Does Digital Money Mean for Emerging Market and Developing Economies?," Springer Books, in: Raghavendra Rau & Robert Wardrop & Luigi Zingales (ed.), The Palgrave Handbook of Technological Finance, pages 217-241, Springer.
    14. Ozili, Peterson K, 2022. "Circular economy and central bank digital currency," MPRA Paper 113469, University Library of Munich, Germany.
    15. Marie-Hélène Felt, 2020. "Losing Contact: The Impact of Contactless Payments on Cash Usage," Staff Working Papers 20-56, Bank of Canada.
    16. Antsipava, Dasha & Strycharz, Joanna & van Reijmersdal, Eva A. & van Noort, Guda, 2024. "What drives blockchain technology adoption in the online advertising ecosystem? An interview study into stakeholders’ perspectives," Journal of Business Research, Elsevier, vol. 171(C).
    17. Hiroshi Fujiki, 2020. "The use of noncash payment methods for regular payments and the household demand for cash: evidence from Japan," The Japanese Economic Review, Springer, vol. 71(4), pages 719-765, October.
    18. Katrin Assenmacher & Signe Krogstrup, 2021. "Monetary Policy with Negative Interest Rates: De-linking Cash from Digital Money," International Journal of Central Banking, International Journal of Central Banking, vol. 17(1), pages 67-106, March.
    19. Shy, Oz, 2021. "Cashless stores and cash users," Journal of Policy Modeling, Elsevier, vol. 43(3), pages 622-638.
    20. Rod Garratt & Maarten van Oordt, 2019. "Systemic Privacy as a Public Good: A Case for Electronic Cash," Staff Working Papers 19-24, Bank of Canada.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:mktlet:v:33:y:2022:i:4:d:10.1007_s11002-022-09641-8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.