Payment literacy pays off: higher trust and financial inclusion

Carin van der Cruijsen and Jakob de Haan

Working Papers from DNB

Abstract: This paper proposes a payment literacy index, developed using a comprehensive consumer survey in the Netherlands to assess knowledge of both traditional and new payment methods, as well as fraud in the payment system. The index suggests that there is considerable room for improvement in payment literacy. Payment literacy is influenced by a number of personal characteristics, the information sources used, experiences with fraud, and the desire to be well informed about payments. Our findings suggest a positive relationship between payment literacy and trust in the payment system and banks, as well as the likelihood of individuals adopting new payment methods and making payments independently.

Keywords: payment literacy; payments; financial inclusion; financial literacy; trust (search for similar items in EconPapers)
JEL-codes: D12 D83 G50 J16 J33 (search for similar items in EconPapers)
Date: 2025-03
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Persistent link: https://EconPapers.repec.org/RePEc:dnb:dnbwpp:831

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