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Uncovering the digital payment divide: understanding the importance of cash for groups at risk

Author

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  • Carin van der Cruijsen
  • Jelmer Reijerink

Abstract

The ongoing digital transition in the payment landscape offers countless advantages to many people. However, certain segments of the population encounter difficulties navigating this digital world, particularly individuals within groups at risk. Little is known about the payment behaviour and preferences of these groups. Our research focuses on people with low digital literacy, disabilities or financial difficulties. Using rich payment diary data of Dutch consumers, our study reveals that cash is an important means of payment to many. 7% of the respondents in our study say they always use cash at points of sale and 28% indicate they cannot do without cash. Furthermore, we find that cash is especially important for people with low digital literacy, people who are blind or visually impaired, people with limited or no hand function, people with a mild intellectual disability and people who find it difficult to make ends meet on their income.

Suggested Citation

  • Carin van der Cruijsen & Jelmer Reijerink, 2023. "Uncovering the digital payment divide: understanding the importance of cash for groups at risk," Working Papers 781, DNB.
    • Handle: RePEc:dnb:dnbwpp:781
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    File URL: https://www.dnb.nl/media/s45j35do/working_paper_no-781.pdf
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    Cited by:

    1. Marie-Claire Broekhoff & Carin van der Cruijsen & Jakob de Haan, 2023. "Towards financial inclusion: trust in banks’ payment services among groups at risk," Working Papers 795, DNB.
    2. Broekhoff, Marie-Claire & van der Cruijsen, Carin, 2024. "Paying in a blink of an eye: it hurts less, but you spend more," Journal of Economic Behavior & Organization, Elsevier, vol. 221(C), pages 110-133.

    More about this item

    Keywords

    payment behaviour; groups at risk; payment diaries; consumer survey; cash; cards;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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