Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/303828 
Year of Publication: 
2022
Citation: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 10 [Issue:] 1 [Article No.:] 2132631 [Year:] 2022 [Pages:] 1-21
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
The ongoing COVID-19 pandemic has considerably promoted the usage of Digital Financial Services (DFS) in India. Therefore, exploring the various determinants influencing the DFS users is crucial for the DFS providers to understand their customers better. This study aims to identify, measure, and validate the determinants of Digital Financial Literacy (DFL) from the Indian adults who use Digital Financial Services. A sample of 384 adult DFS users from India was surveyed using a self-administered questionnaire in 2021. A multidimensional scale was developed to measure the Digital Financial Literacy in this study. The results exhibit that Digital Knowledge, Financial Knowledge, Knowledge of DFS, Awareness of Digital Finance Risk, Digital Finance Risk Control, Knowledge of Customer Right, Product Suitability, Product Quality, Gendered Social Norm, Practical Application of Knowledge and Skill, Self-determination to use the Knowledge and Skill and Decision Making are the determinants of DFL among the adults in India. Further, the users of DFS without DFL will face numerous challenges such as inability to complete the transaction, financial loss and privacy breach, etc. Hence, the study concludes that DFL is prerequisite to use DFS effectively.
Subjects: 
digitization
educational finance
financial innovation and inventions and financial technology
Financial services
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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