TY  - JOUR
T1  - Consumer financial knowledge and cashless payment behavior for sustainable development in poland
A1  - Świecka, Beata
A1  - Terefenko, Paweł
A1  - Wiśniewski, Tomasz
A1  - Xiao, Jingjian
Y1  - 2021///
KW  - ANOVA
KW  - Cash-less payment
KW  - Consumer behavior
KW  - Financial knowledge
KW  - Financial literacy
KW  - Payment behavior
KW  - Poland
JF  - Sustainability (Switzerland)
VL  - 13
IS  - 11
SP  - 1
EP  - 19
DO  - 10.3390/su13116401
L1  - file:///E:/jurnal/2023/j of economics and business/paper/Sweika 2021 Consumer_Financial_Knowledge_a.pdf
N2  - Financial knowledge is the main element of financial literacy, which is important for the sustainable development of individuals and society. Sustainability is a complex concept that spans many fields, including financial knowledge for all ages. Financial knowledge requires significant scientific research showing its impact on individuals and the economy, including non-cash payments. Consumer payment knowledge and its association with consumer financial behavior have long been a matter of widespread interest by researchers, but no in-depth, empirically based scientific research has been completed for Poland. The objective of this study was to examine factors associated with cashless payment behavior with an emphasis on the role of consumer financial knowledge. A total of 1100 interviews were carried out with Polish nationals aged 15 and above. The collected data were analyzed with the use of statistical methods, including analysis of variances (ANOVA), in order to examine consumers’ financial knowledge by basic economic and non-economic factors. Additionally, a data-mining method known as Random Forests was implemented for finding the variable importance in correlations between consumer financial knowledge and preferred methods of payment. The results revealed the diversity of factors influencing consumer behavior. Among the consumers’ personal traits, financial knowledge was one of the most important determinants of their payment choices. The results have implications for the design of payment processes. The results can be used by central banks to determine the directions of financial inclusion, as well as for stakeholders in the payments market.
ER  -