Switching from Cash to Cashless Payments during the COVID-19 Pandemic and Beyond

Tomasz Piotr Wisniewski, Michal Polasik, Radosław Kotkowski () and Andrea Moro
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Tomasz Piotr Wisniewski: The Open University
Michal Polasik: Nicolaus Copernicus University in Torun
Andrea Moro: Lund University

International Journal of Central Banking, 2024, vol. 20, issue 3, 303-371

Abstract: Using a survey of 5,504 respondents from 22 European countries, we examine preferences regarding cash and cashless payments at the point of sale (POS) during the COVID-19 crisis. Consumers favor cashless transactions when they believe that handling cash presents a higher risk of infection. Moreover, the habits they develop during periods of restrictions and lockdowns appear to further diminish their appetite for transacting in cash. Not only do these factors affect current choice of payment method, but they also influence declared future intentions to move away from cash after the pandemic is over.

Date: 2024
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Related works:
Working Paper: Switching from cash to cashless payments during the COVID-19 pandemic and beyond (2021)
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