Digital financial literacy and usage of cashless payments in Jordan: the moderating role of gender

Abstract

Purpose This study aims to examine the relationships between various components of digital financial literacy, namely, awareness, subjective knowledge, experience, the digital legal framework and skills, and their influence on the adoption of cashless payment systems among university affiliates in Jordan. It also explores the mediating role of gender in this relationship. The study integrates the Theory of Planned Behavior (TPB) and social role theory (SRT). Design/methodology/approach This study uses a cross-sectional survey across 34 Jordanian universities. Data from 418 participants were analyzed, focusing on factor analysis to assess the constructs' reliability and validity and to explore the moderating effects. Findings The findings illuminate that digital financial awareness, experience and skills are significant catalysts for using cashless payments among the targeted demographic. In contrast, the digital legal framework and subjective financial knowledge did not significantly influence cashless payment use. Additionally, gender differences emerged, highlighting a stronger association between digital financial experience and cashless payment usage for women. Originality/value The study's uniqueness stems from its detailed analysis of digital financial literacy's effect on cashless payment adoption in Jordan's academia, incorporating aspects like legal frameworks, awareness, and skills. It innovatively considers gender's moderating role, adding fresh insights into digital finance practices. Using the TPB and SRT, the research connects theory with Jordan's empirical data, suggesting strategies for education and policy. This work advances understanding of digital financial literacy in fostering a more inclusive digital financial system, contributing significantly to digital finance and behavioral economics literature.