IDEAS home Printed from https://ideas.repec.org/a/gam/jecomi/v10y2022i12p304-d989099.html
   My bibliography  Save this article

The Struggle between Cash and Electronic Payments

Author

Listed:
  • Zsófia Pintér

    (Insstitute of Agriculture and Food Economics, Hungarian University of Agriculture and Life Sciences, H-7400 Kaposvar, Hungary)

  • Mónika Zita Nagy

    (Insstitute of Agriculture and Food Economics, Hungarian University of Agriculture and Life Sciences, H-7400 Kaposvar, Hungary)

  • Katalin Tóth

    (“Böhönyei Szabadság” Agricultural Co., Böhönye, H-8719 Marcali, Hungary)

  • József Varga

    (Institute for Rural Development and Sustainable Economy, Hungarian University of Agriculture and Life Sciences, H-7400 Kaposvar, Hungary
    Department of Finance, Corvinus University of Budapest, H-1093 Budapest, Hungary
    Faculty of Economics, Socio-Human Sciences and Engineering, Sapientia Hungarian University of Transylvania, RO530104 Miercurea Ciuc, Romania)

Abstract

The assessment of consumer behavior regarding the choice of financial instruments may be extremely important in the near future, since the fight between cash and electronic money has reached a turning point, and electronic payments are slowly defeating cash. On one hand, in the long term, this possible separation threatens sustainable development goals, and on the other hand, financial awareness can affect the number of purchases and savings. In a survey of 499 people, we examined the reasons behind their decisions, with a particular focus on financial awareness. The result shows that the vast majority of Hungarian consumers are not yet ready to fully accept electronic payments. It can be stated that financial awareness is not present at all in one-fifth of respondents, and one-third are influenced by habituation in everyday shopping situations, which indicates a lack of financial awareness. Based on our results, we have concluded that our consumers still find it difficult to abandon cash payments. Financial awareness needs to be improved in parallel with the Hungarian government’s strategy to reduce the use of cash.

Suggested Citation

  • Zsófia Pintér & Mónika Zita Nagy & Katalin Tóth & József Varga, 2022. "The Struggle between Cash and Electronic Payments," Economies, MDPI, vol. 10(12), pages 1-15, November.
    • Handle: RePEc:gam:jecomi:v:10:y:2022:i:12:p:304-:d:989099
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7099/10/12/304/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7099/10/12/304/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Liao, Ziqi & Shi, Xinping & Wong, Wing-Keung, 2014. "Key determinants of sustainable smartcard payment," Journal of Retailing and Consumer Services, Elsevier, vol. 21(3), pages 306-313.
    2. Bátiz-Lazo, Bernardo & Haigh, Thomas & Stearns, David L., 2014. "How the Future Shaped the Past: The Case of the Cashless Society," Enterprise & Society, Cambridge University Press, vol. 15(1), pages 103-131, March.
    3. Sabrina Helm & Brintha Subramaniam, 2019. "Exploring Socio-Cognitive Mindfulness in the Context of Sustainable Consumption," Sustainability, MDPI, vol. 11(13), pages 1-17, July.
    4. Anna-Lena Godhe, 2019. "Digital Literacies or Digital Competence: Conceptualizations in Nordic Curricula," Media and Communication, Cogitatio Press, vol. 7(2), pages 25-35.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Irena Munteanu, 2022. "Comparative Study of Bank Cards in Romania, Bulgaria and Hungary," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 927-932, Decembrie.
    2. Daniel Mider & Przemyslaw Potocki & Robert Staniszewski, 2023. "Cryptocurrencies and Other Forms of Payment in the Awareness of Poles: Declared Trust, Perceived Risk and Actual Victimization," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 480-491.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chia-Lin Chang & Michael McAleer & Wing-Keung Wong, 2018. "Big Data, Computational Science, Economics, Finance, Marketing, Management, and Psychology: Connections," JRFM, MDPI, vol. 11(1), pages 1-29, March.
    2. Batiz-lazo, Bernardo & del Angel, Gustavo, 2016. "El nacimiento de la tarjeta de credito bancaria an Mexico y Espana, 1966-1975 [The emergence of the bank credit card in Mexico and Spain, 1966-1975]," MPRA Paper 78004, University Library of Munich, Germany, revised 05 Aug 2016.
    3. Pantano, Eleonora & Dennis, Charles, 2017. "Exploring the origin of retail stores in Europe: Evidence from Southern Italy from the 6th century BCE to the 3rd century BCE," Journal of Retailing and Consumer Services, Elsevier, vol. 39(C), pages 243-249.
    4. Dilek Önkal & Shari De Baets, 2020. "Past‐future synergies: Commentary on Schoemaker 2020," Futures & Foresight Science, John Wiley & Sons, vol. 2(3-4), September.
    5. Mrinalini Tankha, 2021. "Detained settlements: The infrastructures and temporalities of digital financial transactions between the United States and Cuba," Economic Anthropology, Wiley Blackwell, vol. 8(1), pages 133-147, January.
    6. Bernardo Batiz-Lazo & Gustavo A. Del Angel, 2016. "The Dawn of the Plastic Jungle: The Introduction of the Credit Card in Europe and North America, 1950-1975," Economics Working Papers 16107, Hoover Institution, Stanford University.
    7. Batiz-Lazo, Bernardo & Maixe-Altes, J Carles & Peon, David, 2023. "Behavioral drivers of cashless payments in Africa," MPRA Paper 117984, University Library of Munich, Germany.
    8. Massoud Moslehpour & Van Kien Pham & Wing-Keung Wong & İsmail Bilgiçli, 2018. "e-Purchase Intention of Taiwanese Consumers: Sustainable Mediation of Perceived Usefulness and Perceived Ease of Use," Sustainability, MDPI, vol. 10(1), pages 1-17, January.
    9. Nguyen Huu Hau & Tran Trung Tinh & Hoa Anh Tuong & Wing-Keung Wong, 2020. "Review of Matrix Theory with Applications in Education and Decision Sciences," Advances in Decision Sciences, Asia University, Taiwan, vol. 24(1), pages 28-69, March.
    10. Batiz-Lazo, Bernardo & Buckley, Tom, 2021. "Early “Frictions” in the Transition towards Cashless Payments," MPRA Paper 108834, University Library of Munich, Germany.
    11. Juan Felipe Espinosa-Cristia & José Ignacio Alarcón & Bernardo Batiz-Lazo, 2022. "Local Adaptation of Work Practices: The Case of BancoEstado’s “CajaVecina†Correspondent Banking System," SAGE Open, , vol. 12(2), pages 21582440221, April.
    12. Chia-Lin Chang & Michael McAleer & Wing-Keung Wong, 2018. "Decision Sciences, Economics, Finance, Business, Computing, and Big Data: Connections," Tinbergen Institute Discussion Papers 18-024/III, Tinbergen Institute.
    13. Boden, Joe & Maier, Erik & Wilken, Robert, 2020. "The effect of credit card versus mobile payment on convenience and consumers’ willingness to pay," Journal of Retailing and Consumer Services, Elsevier, vol. 52(C).
    14. Tran Thai Ha Nguyen & Massoud Moslehpour & Thi Thuy Van Vo & Wing-Keung Wong, 2020. "State Ownership and Risk-Taking Behavior: An Empirical Approach to Get Better Profitability, Investment, and Trading Strategies for Listed Corporates in Vietnam," Economies, MDPI, vol. 8(2), pages 1-21, June.
    15. Srečko Zakrajšek & Vladislav Rajkovič & Mojca Bernik & Eva Jereb & Uroš Rajkovič, 2021. "Evaluation of education scenarios for acquiring digital competences of secondary school students in Slovenia," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 29(3), pages 841-857, September.
    16. Lauren Ah Fook & Lisa McNeill, 2020. "Click to Buy: The Impact of Retail Credit on Over-Consumption in the Online Environment," Sustainability, MDPI, vol. 12(18), pages 1-15, September.
    17. Lidia Vidal-Meliá & Marta Estrada & Diego Monferrer & Alma Rodríguez-Sánchez, 2022. "Does Mindfulness Influence Academic Performance? The Role of Resilience in Education for Sustainable Development," Sustainability, MDPI, vol. 14(7), pages 1-12, April.
    18. Manchanda, Parul & Arora, Nupur & Nazir, Owais & Islam, Jamid Ul, 2023. "Cultivating sustainability consciousness through mindfulness: An application of theory of mindful-consumption," Journal of Retailing and Consumer Services, Elsevier, vol. 75(C).
    19. Liu, Yunxin & Dewitte, Siegfried, 2021. "A replication study of the credit card effect on spending behavior and an extension to mobile payments," Journal of Retailing and Consumer Services, Elsevier, vol. 60(C).
    20. Chia-Lin Chang & Michael McAleer & Wing-Keung Wong, 2018. "Decision Sciences, Economics, Finance, Business, Computing, And Big Data: Connections," Advances in Decision Sciences, Asia University, Taiwan, vol. 22(1), pages 36-94, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jecomi:v:10:y:2022:i:12:p:304-:d:989099. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.