Cover
Volume 7, Special Issue 6 (2026)

Published: October 25, 2026

Pages: 308-326

Research Article

The impact of digital payments on the financial services sector through consumer behavior: A survey study of a sample of students from the University of Babylon

Mahdi A. Al-Jubouri 1 Bashar A. Al-Humairi 1 Fatima H. Kadhim 1
1College of Administration and Economics, University of Babylon, Babylon, Iraq
History
  • Received: August 14, 2026
  • Available Online: October 25, 2026
DOI

https://doi.org/10.56967/ejfb20261001

Abstract

The proliferation of digital payments has led to a surge in the number of users of virtual currencies in their transactions. This paper explores the reasons behind the widespread adoption of digital payments, their characteristics, and their potential global impact. It also analyzes the risks and challenges associated with digital payments, how to protect customer privacy and data, and how to improve payment methods based on user experiences. The paper focuses on discussing the impact of digital payments on the financial sector, comparing and analyzing their advantages and disadvantages, and exploring their direct and indirect effects on financial services and cash. Furthermore, it analyzes the habits of consumers using digital payments and whether these habits will gradually change. Based on research, study, and analysis, this paper aims to fill a significant gap in the literature on user-centric innovation and provide a comprehensive view of the role of society in the innovation process of digital payments. Finally, it examines whether and how household adoption of digital payments influences spending decisions.

Keywords

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