Digital payment systems are transforming economies worldwide. However, their impact on social inequality is complex and deeply tied to regional institutional contexts. Adopting a global perspective, this project investigates the diverse trajectories toward cashless societies—what we call the “varieties of cashlessness.”

In the Global North, transitions toward cashlessness are typically shaped by payment ecosystems dominated by card networks and traditional banking, supported by highly developed financial infrastructures and stable regulatory environments. In the Global South, by contrast, different varieties of cashlessness have emerged, driven by a wider range of payment providers—including mobile money operators, tech-driven super apps, and state-backed digital payment systems. These providers are embedded within distinct technological, social, and regulatory ecosystems, which produce very different consequences for financial inclusion and social inequality.

Through a comparative approach spanning regions such as Latin America (Brazil and Argentina) and advanced economies (the United States and Germany), the project examines how these varieties of cashlessness shape levels of indebtedness, economic exclusion, and new forms of financial surveillance. We combine qualitative fieldwork, interviews with regulators, providers, and users, and quantitative analysis of financial data to understand the power dynamics and regulatory frameworks that structure access to digital financial services.

This comprehensive approach offers a more nuanced understanding of the social and political effects of financial digitization, highlighting both its promises and its risks. The project provides key insights that enrich global debates on digital financial inclusion and offers policy recommendations to support more equitable and inclusive digital financial systems.

Check out my latest publications!
Brandl, B; Hengsbach, D. & Moreno, G. 2024. Small Money, Large Profits: How the Cashless Revolution Aggravates Social Inequality Socio-Economic Review, January 2024.
Brandl, B. & Moreno, G. (2025). Cashing in on cashless: Different pathways to cashless payments in the Global South. In: Hoven, Ingrid-Gabriela; Soh Young In; Thomas Puschmann (eds.) Sustainable Digital Finance. Springer Nature, Berlin, pp. 311–324.

Illustration by Vincent Kilbride