Towards financial inclusion: Trust in banks’ payment services among groups at risk
Open accessAbstract
Using unique payment diary survey data, this paper analyses trust in the Dutch payment system (broad-scope trust) and trust in the payment services of customers’ own bank (narrow-scope trust) among several customer groups at risk of being financially excluded due to the ongoing digitalisation. We specifically research people who have low digital skills, face financial challenges, or have a disability. Our results suggest that respondents with low digital skills or those who experience financial difficulties have below-average levels of both broad-scope and narrow-scope trust. Among people who have difficulty walking or are wheelchair-bound we find a significant positive effect on broad-scope trust in the payment system, while blind or visually impaired people and people with limited or no hand function are less likely to have trust in the payment system compared to people who do not belong to one of these groups. Among those who fall in a group at risk due to a physical disability, we only uncover a significant negative effect on narrow-scope trust for people who are blind or with a visual impairment. Respondents with little broad-scope trust report various reasons for their lack of trust, such as dissatisfaction with banks’ polic and the cost of bank services, interruptions in the payment system, and the ongoing digitalisation of payment services. Our findings underscore the importance of cultivating an accessible and inclusive payment system to increase financial inclusion from a trust-centred perspective.
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Income level of banking users influences both the level of trust in the financial system and the usage of digital payments.
“The income level of banking users might influence both the level of trust in the financial system and the usage of digital payments.”
From Digital Payments Trust in Latin America and the Caribbean (2025) · cites this paper as Broekhoff et al., 2024
Section 4.1 reports that people who find it harder to make ends meet on their income have less trust in the payment system. Section 2.2 says people facing financial difficulties often use cash, but the paper does not establish that income level itself influences digital-payment usage. Its measure is difficulty making ends meet, not income level. (LLM, conf=0.82)
Experimental — accuracy not yet measuredThe effectiveness of smartphones and mobile networks for banking applications and mobile payment services ultimately depends on the perceived security and reliability of the banking system.
“However, the effectiveness of these technologies will ultimately depend on the perceived security and reliability of the banking system (Broekhoff et al., 2024; Chang & Hung, 2018).”
From Digital Payments Trust in Latin America and the Caribbean (2025) · cites this paper as Broekhoff et al., 2024
The Introduction treats trust as an important factor in adopting and using mobile payments, and Table 3 links distrust to service interruptions and safety concerns. The paper does not establish that the effectiveness of smartphone and mobile-network banking technologies ultimately depends on perceived security and reliability; that is stronger and broader than its discussion of trust and payment use. (LLM, conf=0.84)
Experimental — accuracy not yet measuredThe existing literature on trust and electronic payments in Latin America and the Caribbean is limited.
“The existing literature on this topic is limited and even more so in the context of LAC (Broekhoff et al., 2024; Chang & Hung, 2018; van der Cruijsen et al., 2023).”
From Digital Payments Trust in Latin America and the Caribbean (2025) · cites this paper as Broekhoff et al., 2024
The Introduction says that trust in the payment system among groups at risk had, to the authors’ knowledge, not been researched, supporting a limited-literature claim for that narrower topic. It examines Dutch data and does not say that literature on trust and electronic payments is especially limited in Latin America and the Caribbean. No page number is available in our copy. (LLM, conf=0.87)
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References 49 · Cited by 26
Research works printed but not linked: 1
- [2]2. to Cash Review, 2019. Access to cash review: final report. https://www.accesstocash.org.uk/media/1071/call-for-evidence.pdf.
- Authors
- Broekhoff, M.-C., van der Cruijsen, C., & de Haan, J.
- Affiliations
- University of Groningen (NL)
- Corresponding author
- Broekhoff, Marie-Claire
- Venue
- Economic Analysis and Policy
- Publisher
- Elsevier BV
- Published
- 2024-06
- Volume
- 82
- Pages
- 104-123
- ISSN
- 0313-5926 (ISSN-L)
- OpenAlex
- W4392356774
- Cited by
- 26
- References
- 49
- Citations by year
- 2026: 13 · 2025: 11 · 2024: 2
- FWCI
- 9.22
- Type
- journal article
- Language
- en
- Open access
- hybrid
- doi.org
- Licence
- Locations
- Economic Analysis and Policy (publishedVersion, other-oa)
- SSRN Electronic Journal (acceptedVersion)
- University of Groningen research database (University of Groningen / Centre for Information Technology) (publishedVersion, cc-by)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Microfinance and Financial Inclusion
- Social Sciences › Business, Management and Accounting › Management Information Systems › FinTech, Crowdfunding, Digital Finance
- Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy, Pension, Retirement Analysis
- Keywords
- financial inclusion, trust in banks, payment services, financial hardship, disability, visual impairment, physical disability, wheelchair users, blind people
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