Cashless society and the informal economy: Assessing the potential of policy-driven digital payment ecosystems for sustainable transformation

Abstract

This study maps the intellectual, thematic, and geographic structure of research on cashless society programmes and digital payment adoption within the informal economy, addressing the fragmented state of this literature between 2010 and 2025. A bibliometric analysis was conducted using performance indicators and science mapping techniques (via VOSviewer) applied to 97 peer-reviewed Scopus articles, following a structured Boolean search and PRISMA-based screening protocol. Publication output grew markedly after 2023, coinciding with post-pandemic digital financial inclusion agendas. Four thematic clusters were identified: financial inclusion and empowerment, technology adoption, informal entrepreneurship, and financial literacy and well-being. The field is transitioning from individual-level adoption studies toward ecosystem-level and capacity-building perspectives, though it remains anchored in the Technology Acceptance Model and Technology-Organisation-Environment framework. Cashless programmes function as key policy instruments for building digital ecosystems within the informal economy, though gaps in policy coherence and long-term sustainability remain evident. This study is among the first to apply a Theory-Context-Characteristics-Methods synthesis to the intersection of policy-driven cashless programmes and informal business adoption, offering an integrative research agenda distinct from broader fintech or financial-inclusion bibliometric reviews.