The Impact of Education on Digital Transactions

Digitalization affects different spheres of modern society including economy, management, industry, trading, medicine and education. Intensive development of economic activity digitalization requires financial and digital literacy of the population that can be defined as an ability to use knowledge and skills to make effective financial decisions. The paper is aimed at the analysis of the impact of financial and IT education on digital transactions and how these two areas of the economic development of society are interconnected taking into account the fact that a high level of financial and digital literacy of the population contributes to the sustainable development of the society. The methodological apparatus of the research includes statistical and comparative analysis, in particular, multidisciplinary, convergent, and descriptive approaches were applied. The authors conclude that in order to use the digitalization benefits for successful financial activity and electronic transaction security it is necessary to transform educational environment implying the application of digital technologies, IT skills formation, financial literacy and critical thinking development.