Digital payments as an indicator of financial inclusion in Euro Area countries

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dc.contributor.authorPetrikova, Tamara
dc.contributor.authorKocisova, Kristina
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2024-06-05T08:49:25Z
dc.date.available2024-06-05T08:49:25Z
dc.description.abstractThe process of digitisation in the financial sector is developing through the systematic introduction of computer systems, the establishment of Internet connectivity and the use and ownership of various information and communication devices. Information and communication technologies can increase the desired degree of financial inclusion in a country by increasing the availability of various financial services. This study examines the individual attributes that can affect financial inclusion in the Euro Area countries in 2021. Our analysis applies a probit model to data from the World Bank Global Findex database, focusing on digital payments as a proxy for financial inclusion. The main finding highlights that higher income, higher education, female gender, and younger age groups are associated with an increased propensity to engage in digital payments. Notably, our expectation of a non-linear relationship between age and digital payments is confirmed, as evidenced by the application of the Robin Hood algorithm. Specifically, we observe a positive correlation between age and digital payment usage. However, this trend reverses beyond a specific breakpoint, approximately around the age of 40, leading to a subsequent decline in digital payment activity. Furthermore, our research shows that individuals who utilised alternative payment methods alongside cash before the COVID-19 pandemic are likelier to engage in higher digital payments. Additionally, a tendency for higher adoption of digital payments coincides with countries that achieved a higher Digital Access Index (DAI), an indicator assessing the degree of digitalisation in a country. Furthermore, it is associated with countries among the Euro Area’s founding members.en
dc.formattext
dc.identifier.doi10.15240/tul/001/2024-5-004
dc.identifier.eissn2336-5604
dc.identifier.issn1212-3609
dc.identifier.urihttps://dspace.tul.cz/handle/15240/175210
dc.language.isoen
dc.publisherTechnická Univerzita v Libercics
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisher.abbreviationTUL
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dc.relation.ispartofEkonomie a Managementcs
dc.relation.ispartofEconomics and Managementen
dc.relation.isrefereedtrue
dc.rightsCC BY-NC
dc.subjectFinancial inclusionen
dc.subjectmade and received digital paymentsen
dc.subjectindividual characteristicsen
dc.subjectInterneten
dc.subjectmobile ownershipen
dc.subjectU-shaped relationshipen
dc.subject.classificationG21
dc.subject.classificationO16
dc.subject.classificationP34
dc.titleDigital payments as an indicator of financial inclusion in Euro Area countriesen
dc.typeArticleen
local.accessopen
local.citation.epage182
local.citation.spage162
local.facultyFaculty of Economics
local.filenameEM_2_2024_10
local.fulltextyes
local.relation.abbreviationE+Mcs
local.relation.abbreviationE&Men
local.relation.issue2
local.relation.volume27
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