Has the COVID-19 pandemic affected public trust? Evidence for the US and the Netherlands.

Using two large-scale surveys among households, we examine the drivers of public trust in banks, insurance companies, BigTechs, and other people in the United States and the Netherlands, and analyse whether the COVID-19 pandemic has affected public trust. Our results suggest that the COVID-19 pandemic did not have much effect on trust in financial institutions in the US and the Netherlands. However, trust in BigTechs and trust in other people declined in both countries, especially in the US.

Pandemic payment patterns.

COVID-19 has temporarily changed the relative costs and benefits of different payment methods: cash has become more costly in terms of health risks, ease of use and likelihood of acceptance, whereas debit card usage has become less costly. As a result, consumers have shifted away from cash. Based on unique daily payment diary survey data collected between January 2018 and December 2021 amongst a representative panel of Dutch consumers, we study the shift in payment behaviour and payment preferences during two lockdown periods in the Netherlands in 2020 and 2021.

Determinants of Trust in Banks' Payment Services During COVID: An Exploration Using Daily Data.

Trust in banks is key, especially in turbulent times. Using unique daily data for a representative panel of Dutch consumers, we examine to what extent the COVID-crisis has affected trust in banks' payment services. We have the following main findings.