Digital Financial Literacy and Usage of Cashless Payments in Jordan: The Moderating Role of Gender

Purpose: This study examines the relationships between various components of digital financial literacy—namely awareness, subjective knowledge, experience, digital legal framework and skills—and their influence on the adoption of cashless payment systems among university affiliates in Jordan. While also exploring the mediating role of gender in this relationship.
Design/methodology: Utilising a cross-sectional survey across 34 Jordanian universities, this study examines the influence of digital financial literacy on cashless payment adoption, with gender as a moderating factor. Data from 418 participants were analysed via SPSS and SmartPLS, focusing on factor analysis to assess the constructs' reliability and validity and 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 originality and value of this study are encapsulated in its pioneering empirical analysis of how digital financial literacy drives the usage of cashless payments within Jordan's university sector. It contributes new insights into the effectiveness of financial literacy factors, considering the legal framework, awareness, knowledge, experience, and skills and their nuanced effects on cashless transactions. By identifying gender as a potential moderator, this study carves a fresh viewpoint in the narrative on digital financial conduct. It lays down a strategic blueprint for informed educational and policy-making initiatives.