The Link Between Digital Skills and Financial Inclusion—Evidence from Consumers Survey Data from Low-Income Areas

P. M. Vik (), D. Kamerāde () and K. T. Dayson ()
Additional contact information
P. M. Vik: University of Salford
D. Kamerāde: University of Salford
K. T. Dayson: University of Salford, Offices of the Vice Chancellor, the Old Fire Station

Journal of Consumer Policy, 2024, vol. 47, issue 3, No 3, 373-393

Abstract: Abstract Financial and digital inclusion are key consumer policy agendas for governments globally. Yet, despite the importance of online interfaces to manage finances and make payments, the link between financial and digital inclusion remains under-researched. This study analyses the link between digital and financial inclusion drawing on data from a survey conducted of 922 adults in UK in 2018. The results suggest that the active use of banking services depends on digital skills. The level of self-rated internet proficiency predicts a variety of ways in which consumers use financial services in the management of their finances, including contactless payments, bank transfers, and the use of multiple banking services. This holds even when controlling for socioeconomic and demographic characteristics. Conversely, household income is more important as a determinant than digital skills in checking account balance online. This possibly reflects that liquidity constrained consumers generally prefer to monitor their spending using cash as this provides more precise information on their spending and remaining balance.

Keywords: Financial Inclusion; Financial Exclusion; Digital Inclusion; Digital Exclusion; Digital Skills (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10603-024-09567-w Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:jcopol:v:47:y:2024:i:3:d:10.1007_s10603-024-09567-w

Ordering information: This journal article can be ordered from
http://www.springer. ... es/journal/10603/PS2

DOI: 10.1007/s10603-024-09567-w

Access Statistics for this article

Journal of Consumer Policy is currently edited by Hans Micklitz, John Thøgersen, Lucia A. Reisch, Alan Mathios and Christian Twigg-Flesner

More articles in Journal of Consumer Policy from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().