Abstract/Description
Purpose: The objective of the study is to examine the impact of a system of digital payment as an indicator of financial inclusion on the financial well-being of vulnerable class of Pakistan having no bank account. Additionally, the study investigates the moderating role of age and gender with a special emphasis on the relationship between digital payment, and financial well-being.
Methodology/Design/Techniques: The study uses quantitative data obtained from users of the digital payment system (Jazz Cash, Easy paisa, U-cash, RAAST, mobile banking apps, etc.) through an online research survey across Pakistan. The study tested the hypothesis using the Smart PLS structural equation modeling approach.
Findings: The findings revealed that security, ease of use, and convenience strongly boost the financial well-being of households and ultimately enhances the trust in digital payment system while perceived risk strongly plays a negative role in the same.
Research Implications: The study implies that to enhance digital financial inclusion, policymakers, and service providers should focus on addressing the concerns related to perceived risk associated with digital payment systems. Additionally, efforts should be made to improve the security, ease of use, and convenience of these systems to boost their adoption and trust among users. Promoting digital payment systems can have a significant impact on the financial well-being of middle-standard households in Pakistan.
Novelty/Value: The findings of the study enhance the historical literature for studying the relationship between digital financial inclusion and financial well-being in a special context of households from Pakistan. It also provides evidence in support of the applicability of the technology acceptance model for the digital payment system in Pakistan.
Limitations and Suggestions for the Future: The study is generalizable and applicable to middle-class households in Pakistan. Future research may be considered for cross-cultural and cross-country analysis.
Keywords
Digital financial inclusion, Digital payment, Financial well-being, Trust, Technology Acceptance Model, Households, Pakistan
Track
Finance
Session Number/Theme
2B
Session Chair
Dr. Ashraf Khan ; Dr. Mohsin Sadaqat
Start Date/Time
27-5-2023 11:30 AM
End Date/Time
27-5-2023 1:30 PM
Location
MCS-4, AMAN-CED, First Floor
Recommended Citation
Bashir, Z., Iqbal, S., & Aamir, M. (2023). The financial well-being of households through Digital Financial Inclusion: Does Age, and Gender play any role? Evidence from Pakistan. 3rd IBA SBS International Conference 2024. Retrieved from https://ir.iba.edu.pk/sbsic/2023/program/27
The financial well-being of households through Digital Financial Inclusion: Does Age, and Gender play any role? Evidence from Pakistan
MCS-4, AMAN-CED, First Floor
Purpose: The objective of the study is to examine the impact of a system of digital payment as an indicator of financial inclusion on the financial well-being of vulnerable class of Pakistan having no bank account. Additionally, the study investigates the moderating role of age and gender with a special emphasis on the relationship between digital payment, and financial well-being.
Methodology/Design/Techniques: The study uses quantitative data obtained from users of the digital payment system (Jazz Cash, Easy paisa, U-cash, RAAST, mobile banking apps, etc.) through an online research survey across Pakistan. The study tested the hypothesis using the Smart PLS structural equation modeling approach.
Findings: The findings revealed that security, ease of use, and convenience strongly boost the financial well-being of households and ultimately enhances the trust in digital payment system while perceived risk strongly plays a negative role in the same.
Research Implications: The study implies that to enhance digital financial inclusion, policymakers, and service providers should focus on addressing the concerns related to perceived risk associated with digital payment systems. Additionally, efforts should be made to improve the security, ease of use, and convenience of these systems to boost their adoption and trust among users. Promoting digital payment systems can have a significant impact on the financial well-being of middle-standard households in Pakistan.
Novelty/Value: The findings of the study enhance the historical literature for studying the relationship between digital financial inclusion and financial well-being in a special context of households from Pakistan. It also provides evidence in support of the applicability of the technology acceptance model for the digital payment system in Pakistan.
Limitations and Suggestions for the Future: The study is generalizable and applicable to middle-class households in Pakistan. Future research may be considered for cross-cultural and cross-country analysis.
