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Digital and Financial Literacy as Determinants of Digital Payments and Personal Finance

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Abstract

This work documents that, across countries, the use of digital payment tools and platforms is associated to higher digital literacy, at all levels of financial literacy. More informed personal finance choices, instead, are associated to higher financial literacy, at all levels of digital literacy. The results from this preliminary analysis suggest that digital and financial literacy should be considered together when assessing the implication of digitalization for individual investors, who can access digital financial products and markets in the absence of financial literacy.

Suggested Citation

  • Lo Prete, Anna, 2021. "Digital and Financial Literacy as Determinants of Digital Payments and Personal Finance," Department of Economics and Statistics Cognetti de Martiis. Working Papers 202120, University of Turin.
    • Handle: RePEc:uto:dipeco:202120
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    Cited by:

    1. Aurelija Burinskienė & Milena Seržantė, 2022. "Digitalisation as the Indicator of the Evidence of Sustainability in the European Union," Sustainability, MDPI, vol. 14(14), pages 1-20, July.
    2. Guangshun Xu & Lin Feng & Wenzheng Wang & Qiaohui Liang, 2024. "Digital Financial Literacy and Rural Income Inequality," SAGE Open, , vol. 14(3), pages 21582440241, September.
    3. Choung, Youngjoo & Chatterjee, Swarn & Pak, Tae-Young, 2023. "Digital financial literacy and financial well-being," Finance Research Letters, Elsevier, vol. 58(PB).
    4. Ansar,Saniya & Klapper,Leora & Singer,Dorothe, 2023. "The Importance of Financial Education for the Effective Use of Formal Financial Services," Policy Research Working Paper Series 10345, The World Bank.
    5. Lo Prete, Anna, 2024. "Digital and financial literacy and the development of e-government platforms," Department of Economics and Statistics Cognetti de Martiis. Working Papers 202411, University of Turin.
    6. Sya In Chzhen, 2025. "What Drives the Global Diffusion of Digital Finance? Socioeconomic and Demographic Determinants," University of East Anglia School of Economics Working Paper Series 2025-03, School of Economics, University of East Anglia, Norwich, UK..
    7. Pawan Ashok Kamble & Atul Mehta & Neelam Rani, 2024. "Financial Inclusion and Digital Financial Literacy: Do they Matter for Financial Well-being?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 171(3), pages 777-807, February.
    8. Yonghu Zhang & Yifeng Zhang, 2024. "The Influence of Digital Literacy on the Phenomenon of Deviation between Farmers’ E-Commerce Sales Willingness and Behavior: Evidence from Rural China," Sustainability, MDPI, vol. 16(7), pages 1-22, April.
    9. Birigozzi, Andrea & De Silva, Cristina & Luitel, Prabesh, 2025. "Digital payments and GDP growth: A behavioural quantitative analysis," Research in International Business and Finance, Elsevier, vol. 75(C).
    10. Affandi, Yoga & Ridhwan, Masagus M. & Trinugroho, Irwan & Hermawan Adiwibowo, Danny, 2024. "Digital adoption, business performance, and financial literacy in ultra-micro, micro, and small enterprises in Indonesia," Research in International Business and Finance, Elsevier, vol. 70(PB).
    11. Aina Čaplinska & Alina Danileviča, 2022. "Financial literacy of secondary school leavers: a case of Latgale region in Latvia," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 10(2), pages 544-556, December.
    12. Sara Lamboglia & Noemi Oggero & Mariacristina Rossi & Massimiliano Stacchini, 2024. "Financial knowledge and career aspirations among the young: a route to entrepreneurship," Questioni di Economia e Finanza (Occasional Papers) 838, Bank of Italy, Economic Research and International Relations Area.
    13. Bellocchi, Alessandro & Travaglini, Giuseppe, 2025. "Financial literacy and financial education: The role of irreversible costs," Economics Letters, Elsevier, vol. 247(C).
    14. Sara Lamboglia & Massimiliano Stacchini, 2025. "On the drivers of financial literacy: the role of intergenerational mobility," Empirical Economics, Springer, vol. 68(2), pages 667-695, February.
    15. Wang, Juan, 2025. "Can digital literacy improve income mobility? Evidence from China," Telecommunications Policy, Elsevier, vol. 49(6).
    16. Trinh Quang Long & Peter J. Morgan & Naoyuki Yoshino, 2023. "Financial literacy, behavioral traits, and ePayment adoption and usage in Japan," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-30, December.
    17. Fan Xu & Xiaolei Zhang & Lezhu Zhang, 2025. "The impact of migrant work experience on rural households’ participation in digital finance: Evidence from China," PLOS ONE, Public Library of Science, vol. 20(11), pages 1-18, November.
    18. P. M. Vik & D. Kamerāde & K. T. Dayson, 2024. "The Link Between Digital Skills and Financial Inclusion—Evidence from Consumers Survey Data from Low-Income Areas," Journal of Consumer Policy, Springer, vol. 47(3), pages 373-393, September.

    More about this item

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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