Determinants in adopting cashless payments in Europe: a multilevel analysis
Abstract The use of electronic currency for transactions, denoting a cashless paradigm, has become increasingly common. However, this financial innovation is not prevalent in all countries. This study aims to explain the discrepancies across countries, including individual and country factors. It ma...
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| Format: | Article |
| Language: | English |
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SpringerOpen
2025-02-01
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| Series: | Financial Innovation |
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| Online Access: | https://doi.org/10.1186/s40854-024-00750-z |
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| author | Jose Domingo García-Merino Leire San-Jose Nerea San-Martin |
| author_facet | Jose Domingo García-Merino Leire San-Jose Nerea San-Martin |
| author_sort | Jose Domingo García-Merino |
| collection | DOAJ |
| description | Abstract The use of electronic currency for transactions, denoting a cashless paradigm, has become increasingly common. However, this financial innovation is not prevalent in all countries. This study aims to explain the discrepancies across countries, including individual and country factors. It may be superficially posited that this lag in development stems from individual or microlevel usage challenges. However, the application of the Technology Acceptance Model highlights the presence of overarching characteristics conducive to extensive adoption. Thus, an additional stratum, the multilevel perspective, needs to be examined. This analytical framework incorporates not only individual attributes but also the sociotechnical framework or meso-level factors in which they operate. A multilevel econometric model is used. The results of these analyses show that the impact on the adoption of cashless payments extends beyond individual factors (attitude to technology use, perceived usefulness, and perceived ease of use). Our primary contribution, conceptually and empirically, is to broaden the analysis vision. A comprehensive multilevel analysis revealed that broader contextual elements, such as infrastructure and national skills, exert a significant influence on the adoption of cashless transactions. Consequently, the widespread acceptance of cashless payment methods is not only contingent on individual choices but is also a collective phenomenon in which the surrounding environment plays a crucial role as a catalyst for the end users in the cashless economy. |
| format | Article |
| id | doaj-art-21f311f65ee541f28a0931d504d50472 |
| institution | Kabale University |
| issn | 2199-4730 |
| language | English |
| publishDate | 2025-02-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Financial Innovation |
| spelling | doaj-art-21f311f65ee541f28a0931d504d504722025-02-09T12:51:14ZengSpringerOpenFinancial Innovation2199-47302025-02-0111112010.1186/s40854-024-00750-zDeterminants in adopting cashless payments in Europe: a multilevel analysisJose Domingo García-Merino0Leire San-Jose1Nerea San-Martin2University of the Basque Country (UPV/EHU)University of the Basque Country (UPV/EHU)University of the Basque Country (UPV/EHU)Abstract The use of electronic currency for transactions, denoting a cashless paradigm, has become increasingly common. However, this financial innovation is not prevalent in all countries. This study aims to explain the discrepancies across countries, including individual and country factors. It may be superficially posited that this lag in development stems from individual or microlevel usage challenges. However, the application of the Technology Acceptance Model highlights the presence of overarching characteristics conducive to extensive adoption. Thus, an additional stratum, the multilevel perspective, needs to be examined. This analytical framework incorporates not only individual attributes but also the sociotechnical framework or meso-level factors in which they operate. A multilevel econometric model is used. The results of these analyses show that the impact on the adoption of cashless payments extends beyond individual factors (attitude to technology use, perceived usefulness, and perceived ease of use). Our primary contribution, conceptually and empirically, is to broaden the analysis vision. A comprehensive multilevel analysis revealed that broader contextual elements, such as infrastructure and national skills, exert a significant influence on the adoption of cashless transactions. Consequently, the widespread acceptance of cashless payment methods is not only contingent on individual choices but is also a collective phenomenon in which the surrounding environment plays a crucial role as a catalyst for the end users in the cashless economy.https://doi.org/10.1186/s40854-024-00750-zCashless paymentMultilevel perspectiveTechnology acceptance modelMicrolevelMesolevel |
| spellingShingle | Jose Domingo García-Merino Leire San-Jose Nerea San-Martin Determinants in adopting cashless payments in Europe: a multilevel analysis Financial Innovation Cashless payment Multilevel perspective Technology acceptance model Microlevel Mesolevel |
| title | Determinants in adopting cashless payments in Europe: a multilevel analysis |
| title_full | Determinants in adopting cashless payments in Europe: a multilevel analysis |
| title_fullStr | Determinants in adopting cashless payments in Europe: a multilevel analysis |
| title_full_unstemmed | Determinants in adopting cashless payments in Europe: a multilevel analysis |
| title_short | Determinants in adopting cashless payments in Europe: a multilevel analysis |
| title_sort | determinants in adopting cashless payments in europe a multilevel analysis |
| topic | Cashless payment Multilevel perspective Technology acceptance model Microlevel Mesolevel |
| url | https://doi.org/10.1186/s40854-024-00750-z |
| work_keys_str_mv | AT josedomingogarciamerino determinantsinadoptingcashlesspaymentsineuropeamultilevelanalysis AT leiresanjose determinantsinadoptingcashlesspaymentsineuropeamultilevelanalysis AT nereasanmartin determinantsinadoptingcashlesspaymentsineuropeamultilevelanalysis |