Fear of the COVID-19 Pandemic and Social Distancing as Factors Determining the Change in Consumer Payment Behavior at Retail and Service Outlets

The aim of this study was to identify the factors inducing customers to choose cashless payments made with payment cards at retail and service outlets during the COVID-19 pandemic. We identified factors that are crucial for consumers’ functioning under pandemic conditions, but which have so far been neglected in research. The estimated logit model indicates that the variables significantly influencing the more frequent choice of payment cards at retail outlets are related to the fear of infection and perception of the advantages of new technological solutions in connection with social distancing. Our study shows that, in addition to sociodemographic characteristics such as age and level of education, emotionally motivated factors induced by the pandemic have begun to play an important role in the transition to cashless payment.