Towards a cashless society: Examining the Impact of Digital Infrastructure on mPayment Transactions (A Cross-Region Analysis)

The worldwide financial environment has been completely transformed by the rise of financial technology, or fintech, which has greatly increased mobile payment (mPayment) transactions. This study investigates the relationship between digital infrastructure and mPayment transactions across countries through a quantitative analysis approach. Secondary data from central banks and relevant agencies are used to explore factors such as the access to electric, secure internet server, numbers of individual using internet, mobile cellular subscriptions, fixed broadband subscription, the automated teller machines (ATMs), and mobile data’s affordability. The study uses regression modelling and comparative analytic approaches to shed light on how digital infrastructure affects mPayment transactions, with a focus on a variety of EU-27 and Southeast Asian nations. The results show that Secure Internet Servers and internet penetration are key factors influencing mPayment transactions, provide guidance on how to encourage mPayment use, and leverage digitalization to drive socioeconomic progress towards a cashless society.