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The role of acquaintances' characteristics in shaping digital payment technology

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  • Nyakurukwa, Kingstone
  • Seetharam, Yudhvir
  • Chipeta, Chimwemwe

Abstract

This study examines how acquaintances (friends, family, and close associates) characteristics (education, employment status, and income) shape the intensity of digital payment technology (PayTech) usage. Using data from The Netherlands and a Seemingly Unrelated Regression Equation model, the results reveal that higher education, employment, and income among acquaintances significantly influence individuals’ usage intensity of peer-to-peer (P2P), contactless, and mobile payment systems. P2P payments are particularly impacted (potentially because of their social orientation) with higher education and income among acquaintances encouraging their use. These findings reflect the essential influence of social networks on driving PayTech usage intensity.

Suggested Citation

  • Nyakurukwa, Kingstone & Seetharam, Yudhvir & Chipeta, Chimwemwe, 2025. "The role of acquaintances' characteristics in shaping digital payment technology," Finance Research Letters, Elsevier, vol. 76(C).
    • Handle: RePEc:eee:finlet:v:76:y:2025:i:c:s1544612325002405
    DOI: 10.1016/j.frl.2025.106976
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    References listed on IDEAS

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    1. Nyakurukwa, Kingstone & Seetharam, Yudhvir & Chipeta, Chimwemwe, 2025. "Disaggregating digital financial inclusion in Africa: Explaining within- and between-country variance," Finance Research Letters, Elsevier, vol. 84(C).

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