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Media type:
E-Book
Title:
Heterogeneidad en el uso de los medios de pago y la banca online
:
un análisis a partir de la encuesta financiera de las familias (2002-2020) (HETEROGENEITY IN THE USE OF MEANS OF PAYMENT AND ONLINE BANKING: AN ANALYSIS DRAWING ON THE SPANISH SURVEY OF HOUSEHOLD FINANCES (2002-2020))
Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 30, 2023 erstellt
Description:
In recent years, the banking system has been going through an intensive process of digitalisation that has affected, inter alia, the way in which citizens relate to financial entities. Even though this process brings benefits to society in the medium and long run, its short term effects depend, for example, on how familiar households are with the use of bank cards and online banking to access the financial services they need. This paper uses micro data from the Spanish Survey of Household Finances (EFF) for the period 2002-2020 to analyse how patterns in bank card ownership and use, as well as online banking usage, by Spanish households have changed over time. The richness of the EFF data makes it possible to characterise these patterns for different groups of the population according to their age, education level and income. In addition, the availability of information over such a long period of time for several birth cohorts allows these households’ decisions to be analysed over their entire life cycle. The results of the analysis are as follows. First, bank card ownership and use by households have spread throughout the period considered, growing especially among households with lower education levels and incomes. However, even in 2020, several groups of the population have been identified as still having relatively limited access to this specific means of payment, especially those who are older and have lower education levels and lower incomes. Indeed, for example, in 2020, around 20% of those households with a lower education level did not have any bank cards or, if they did have one, did not use it (around 1,760,000 households). Secondly, the use of online banking has increased generally for all households between 2002 and 2020, such that, even among those with an education level below secondary, about half use this way of interacting with banks at least occasionally. However, the spread of this instrument among households exhibits a high degree of heterogeneity according to the year of birth of the household head. For example, slightly more than 80% of those households whose head was born before 1944 did not use online banking in 2020 (around 2,130,000 households). Finally, this paper examines to what extent the patterns observed in bank card ownership and use, as well as in the use of online banking, according to household education level, income and birth year still persist when comparing households with similar demographics and geographical location. This additional analysis, which includes more household characteristics, shows, in line with the previous results, that the differences in bank card ownership and use by household income and education level have decreased between 2002 and 2020 (although bank card ownership is still more limited among households in the lower income quartile and among those whose head has a lower education level). Conversely, the differences among households in the use of online banking by income, age and education level have increased during this period