Digital payment behaviour and financial well-being: implications for international marketing

Purpose This article investigates the psychological and behavioural factors that shaped financial well-being and the adoption of digital payment methods during the pandemic. It focuses on how COVID-19-related concerns, financial literacy and social media-induced anxiety influenced individuals' financial perceptions and preferences, offering valuable insights with broader implications for international marketing strategies. Design/methodology/approach The study employs a quantitative research design based on a survey administered to a sample of 760 individuals in the United States, using the CAWI methodology. Structural equation modelling (SEM) is applied to analyse the relationships among key psychological, financial and behavioural variables, with a particular focus on variations in payment behaviour. Findings The results reveal significant relationships between individuals' financial well-being and several psychological and behavioural factors. Social media anxiety emerges as a significant factor, directly influencing COVID-related concerns, the adoption of digital payment methods and financial well-being, thus underlining the dual role of digital environments in shaping emotional and financial behaviour. Originality/value Building on the existing body of research on payment behaviours, this study breaks new ground by investigating social media-induced anxiety as a driver of COVID-19-related concerns and introducing a novel analytical framework for understanding consumer payment behaviour, offering a valuable foundation for future research. The findings carry important implications for international marketing, highlighting how evolving consumer preferences can be addressed through psychologically informed strategies. Financial technology providers, in particular, can leverage psychological insights – such as anxiety triggered by social media – to promote the adoption of innovative payment solutions through targeted global marketing efforts.