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, these transitions are often dominated by models based primarily on card networks and traditional banking systems, characterized by highly developed financial infrastructures and stable regulations. In contrast, the Global South has seen alternative models emerge, including mobile money platforms, tech-driven super apps, and state-led digital payment systems. These models reflect different technological, social, and regulatory realities, which have 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 (USA and Germany), the project examines how these varieties of cashlessness impact levels of indebtedness, economic exclusion, and give rise to 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 shape access to digital financial services.

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

>> Check out our latest publications! <<

Small Money, Large Profits: How the Cashless Revolution Aggravates Social Inequality (Brandl, Hengsbach & Moreno, 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.) (forthcoming): Sustainable Digital Finance. Springer Nature, Berlin, pp. 311–324.