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Digitalization and the Transition to a Cashless Economy

In: Digitalization and Firm Performance

Author

Listed:
  • Paweł Marszałek

    (Poznań University of Economics and Business)

  • Katarzyna Szarzec

    (Poznań University of Economics and Business)

Abstract

The aim of the chapter is to identify the main determinants of the cashless economy, to characterize its impact on the behaviour of economic agents, and to discuss its potential advantages and disadvantages for various agents. The cashless economy is discussed both from the perspective of economic theory and the perspective of the functioning of monetary and financial systems. The most important determinants of the transition to the cashless economy are discussed: digitalization and new technologies; changes in the activities of commercial banks, which are creators of cashless money and quasi-money instruments; changes in customers’ demand for cash; and macroeconomic factors. The cashless economy seems to offer the largest benefits for banks, central banks and big tech companies. They have used new technologies more intensely and have worked on designing their own digital currencies. However, from the point of view of a household, the cashless economy could deepen financial exclusion.

Suggested Citation

  • Paweł Marszałek & Katarzyna Szarzec, 2022. "Digitalization and the Transition to a Cashless Economy," Springer Books, in: Milena Ratajczak-Mrozek & Paweł Marszałek (ed.), Digitalization and Firm Performance, chapter 0, pages 251-281, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-83360-2_10
    DOI: 10.1007/978-3-030-83360-2_10
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    Cited by:

    1. Rodolfo Maino & Marco Pani, 2024. "Could CBDCs Lead to Cash Extinction? Insights from a “Merchant-Customer” Model," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 30(1), pages 21-45, February.

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