Financial Inclusion

Taking part in modern social and economic life requires access to financial services. Only then can people receive payments, pay bills, make purchases, or claim government benefits.

A digital euro for everyone

Taking part in modern social and economic life requires access to financial services. Only then can people receive payments, pay bills, make purchases, or claim government benefits.

As digitalisation is transforming our society, it creates new opportunities but also new challenges – particularly in the area of financial inclusion. For this reason, financial inclusion plays a central role in the development of the digital euro. As a public good, the digital euro is designed to give everyone in the euro area access to digital payments.

Financial inclusion means that people have access to financial services and can use them independently, safely and in a way that meets their individual needs. This includes both traditional financial services and digital payment options. In the context of the digital euro, a key question is whether all groups in society have the necessary means to use digital payment methods on an equal footing.
 

Why is financial inclusion important?

Digitalisation is fundamentally transforming the way people pay. Digital payment methods are becoming increasingly important and offer new opportunities for convenience, efficiency and innovation. At the same time, they can also create new forms of exclusion. Not everyone has the same opportunities to access and use digital financial services. Factors such as a lack of technical equipment, limited digital skills, language barriers, physical limitations, or a lack of trust in digital systems can make it difficult or even impossible for some people to use digital payment methods. The digital euro would be designed to be accessible to everyone, which is why these challenges are already being taken into account during its development.

It is important that the perspectives of those potentially affected by digital financial exclusion are considered from the start. To this end, the OeNB set up the Financial Inclusion Working Group in 2024, thereby taking on a pioneering role within the Eurosystem. The Working Group brings together experts from social organisations, disability advocacy groups, interest groups, academia, the financial sector and public administration.

The Working Group reviewed international experience and identified population groups vulnerable to exclusion from the digital financial world. It also examined barriers to accessing digital financial services and developed criteria for a public support service that could help people use the digital euro in the future.

Who is affected by digital financial exclusion?

Financial exclusion can have many different causes, and in many cases several factors come into play.

The following groups may be particularly affected:

  • the elderly
  • people with disabilities
  • people with low incomes
  • people with limited digital skills
  • people facing language barriers
  • people with a migrant or refugee background
  • people living in precarious circumstances

Important issues raised in this context do not only include the mere access to digital devices or the internet but also accessibility, ease of understanding, security, financial literacy and the availability of social support.

What is needed to achieve financial inclusion?

To enable digital financial inclusion, several barriers need to be addressed simultaneously.

Financial inclusion cannot be achieved simply by providing a technological solution. Rather, it requires a comprehensive set of measures, including technical accessibility, information, education, support services and more public awareness. International experience shows that it is above all personal guidance and trusted support services that can play a key role in reducing uncertainty and helping people engage with digital financial services more confidently.

In line with these findings, the Working Group has developed a holistic approach that assesses financial inclusion across several dimensions. These include nine key factors that need to be addressed together to ensure that the digital euro is genuinely accessible to everyone.

Nine key factors for financial inclusion

  1. physical access and infrastructure
  2. technical equipment
  3. psychological safety and trust
  4. accessible and inclusive information and communication
  5. financial resources
  6. digital and financial literacy
  7. stress and time constraints
  8. legal and formal requirements
  9. social integration and support

Nationwide Austrian study provides valuable insights

To place the working group’s findings on a solid scientific footing, an Austrian-wide study on financial inclusion was launched in 2026. Until then, there have been no reliable quantitative data showing which population groups are affected by digital financial exclusion, how severely they are affected and which barriers they encounter most often. By providing robust evidence, the study has closed this knowledge gap.

The study examines how people use digital payment methods and the barriers they encounter in different everyday situations, for example when making payments in online shops, physical stores, or between private individuals. It is based on a multidimensional research framework that systematically captures different types of barriers and links them to sociodemographic characteristics such as age, education level, income, place of residence, or migrant background.

The study provides evidence-based answers to key questions for the first time:

  • How many people in Austria are affected by digital financial exclusion?
  • What barriers do they face most often?
  • How severely are different at-risk groups affected by digital financial exclusion?

The findings provide a solid evidence base for promoting financial inclusion more effectively and for designing the digital euro in a way that meets the needs of as many people as possible.
 

Study on digital financial exclusion in Austria

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Executive summary

The increasing digitalisation of payment systems creates new opportunities but also carries the risk,  within society, of growing financial exclusion. Financial exclusion refers to situations in which people  face barriers to accessing essential financial services or are excluded from them altogether. Existing  research points to significant social inequalities when it comes to accessing and using digital financial  services. As a result, the following question is becoming ever more important: How can digital means of payment be made accessible and usable for everyone? 

This study was motivated by two key objectives: First, it responds to broader efforts to promote digital financial inclusion. Second, it was prompted by the development of the digital euro, which will be designed and implemented as an inclusive and accessible means of payment. In Austria, this process is supported by a working group established by the Oesterreichische Nationalbank (OeNB). The extensive preparatory work carried out by the Financial Inclusion Working Group of the Forum on the Digital Euro informed both the conceptual framework and the design of this study.  

To date, there has been no robust quantitative evidence on the extent of digital financial exclusion in  Austria. Addressing this research gap, this study provides an evidence-based foundation for measures  aimed at strengthening digital financial participation. It not only quantifies the overall prevalence of  digital financial exclusion among Austria’s population aged 18 and over but also examines digital  financial exclusion among population groups at heightened risk of exclusion.1 Specifically, the groups at risk of exclusion are: 

  • people aged 61 to 80 
  • people aged over 80 
  • people with disabilities 
  • people at risk of poverty and people experiencing poverty 
  • people who are over-indebted or subject to wage attachment 
  • people without a fixed address 
  • people with limited language skills in German 
  • refugees and individuals seeking international protection (including asylum seekers, recognised 
    refugees, beneficiaries of subsidiary protection and people holding a temporary suspension of 
    deportation)

Methodology 

The study surveyed adults across Austria. To achieve the highest possible degree of representativeness with respect to key socio-demographic characteristics, a quota sampling approach2 with disproportionate stratification and subsequent weighting was applied. Using a multimodal survey design (online, telephone and face-to-face interviews), the study authors reached 868 individuals aged 18 and above throughout Austria. The resulting margin of error is approximately 3.3%. In addition, the sample was weighted to reflect estimated population shares of groups facing an elevated risk of exclusion. 

Based on theoretical and methodological considerations, scales were developed and tested to assess the use of four digital payment scenarios (e-commerce, peer-to-peer payments, point-of-sale payments and payment acceptance) as well as seven dimensions of potential factors contributing to digital financial exclusion. Respondents were classified as experiencing digital financial exclusion if, according to their self-assessment, they were unable to use digital financial services independently across all four payment scenarios, or within individual payment scenarios, and could do so only with personal assistance or not at all. 

Key findings 

The findings indicate that digital financial exclusion affects a comparatively small share of the Austrian population overall but is highly concentrated among specific groups. Across all payment scenarios, 8% of respondents experience digital financial exclusion, as they are unable to use digital financial services independently or can do so only with personal assistance. In a breakdown of payment scenarios, digital peer-to-peer payments show the highest exclusion rate at 10%, followed by e-commerce at 9%. Exclusion rates are lower in the scenarios of point-of-sale payments and payment acceptance, at approximately 6% each, which is below the overall average. 

The group most affected by digital financial exclusion is people without a fixed address. 45% of them are unable to use the payment scenarios examined independently or can do so only with personal assistance. Next are people with limited language skills in German (36%), refugees and people with disabilities (22% each), and adults over the age of 80 (18%). The latter group is also by far the most likely to state that they do not wish to use digital financial services. Within the population of people with disabilities, individuals with learning difficulties are particularly affected. The elevated risk of exclusion among refugees is linked to both structural factors and language barriers. Therefore, this group is largely captured through the dimension of language skills within the target groups highlighted below. 

Based on the survey findings, four groups emerge as being particularly exposed to the risk of digital financial exclusion. Particular attention should be given to these groups in designing measures to promote digital financial inclusion and developing the digital euro: 

  • people without a fixed address 
  • adults aged over 80 
  • people with limited language skills in German 
  • people with disabilities, particularly people with learning difficulties 

The main drivers of digital financial exclusion are low levels of trust in data security (32%), as well as a lack of support from family and friends (24%) and from service providers (19%). Other drivers are language and accessibility barriers (19%), stress and time constraints (15%), limited digital skills (10%), and limited financial resources (7%). 

The breadth of factors contributing to exclusion highlights the need for targeted measures to promote digital financial inclusion. For adults aged over 80, priority should be given to building trust, providing personalised support and maintaining non-digital access channels. For people with limited German language skills, multilingual information, language support and digital skills development are particularly important. For people without a fixed address, efforts should focus on reducing financial and technical access barriers. For people with disabilities,accessible payment solutions based on Universal Design principles are essential. To achieve these objectives, it is crucial to engage, and cooperate with, people at risk of digital financial exclusion. 

1 The selection of these groups was based on the preparatory work of the Financial Inclusion Working Group of the Oesterreichische Nationalbank’s Forum on the Digital Euro, which brings together representatives of these and other population groups, as well as representatives of payment service providers. 

2 Quotas were defined based on gender, age, level of education, migration background and province or degree of urbanisation of the area of residence. Reference values were derived primarily from Statistics Austria’s microcensus labour force survey data.

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