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Payments data: do consumers want banks to keep them in a safe or turn them into gold?

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  • Carin van der Cruijsen

Abstract

For policymakers seeking to protect financial stability and financial institutions, it is key to know consumers’ attitudes towards payments data usage. This article provides detailed insight into these attitudes based on unique surveys held among Dutch consumers. Attitudes towards payments data usage by banks and the related factors depend on the purpose of the data use. For example, most people do not mind if their payments data are being used to enhance security but do not want these data to be shared with restaurants to get special offers. The selling of payments data by banks to other companies would result in a significant decline of trust in banks.

Suggested Citation

  • Carin van der Cruijsen, 2020. "Payments data: do consumers want banks to keep them in a safe or turn them into gold?," Applied Economics, Taylor & Francis Journals, vol. 52(6), pages 609-622, February.
    • Handle: RePEc:taf:applec:v:52:y:2020:i:6:p:609-622
    DOI: 10.1080/00036846.2019.1659493
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    Cited by:

    1. Michiel Bijlsma & Carin Cruijsen & Nicole Jonker, 2023. "Consumer Willingness to Share Payments Data: Trust for Sale?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 64(1), pages 41-80, August.
    2. Michiel Bijlsma & Carin van der Cruijsen & Nicole Jonker, 2021. "Not all data are created equal - Data sharing and privacy," Working Papers 728, DNB.
    3. Hans Brits & Nicole Jonker, 2023. "The Use of Financial Apps: Privacy Paradox or Privacy Calculus?," Working Papers 794, DNB.
    4. Ine Zeeland & Jo Pierson, 2024. "Changing the whole game: effects of the COVID-19 pandemic's accelerated digitalization on European bank staff's data protection capabilities," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-28, December.
    5. Gorka Briones de Araluze & Natalia Cassinello Plaza, 2023. "The Relevance of Initial Trust and Social Influence in the Intention to Use Open Banking-Based Services: An Empirical Study," SAGE Open, , vol. 13(3), pages 21582440231, July.
    6. Michiel Bijlsma & Carin van der Cruijsen & Nicole Jonker, 2020. "Consumer propensity to adopt PSD2 services: trust for sale?," Working Papers 671, DNB.

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