Is digital payment use linked to financial vulnerability?

What is it about?

With international data, this study finds that digital payment adoption is negatively associated financial worry at the country level but positively associated with financial worry at the individual level. The study also explains this “macro–micro mismatch” capturing structural forces in shaping consumer welfare.

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Photo by Nathana Rebouças on Unsplash

Photo by Nathana Rebouças on Unsplash

Why is it important?

This study contributes a comprehensive framework to the multidisciplinary research on digital finance and well-being. It also informs policymakers about co-creating inclusive financial ecosystems to address consumer vulnerability alongside the macro-level development of digitalization, financialization, and globalization.