P19 positions financial literacy as a global key driver of innovation and competitiveness

Studies reveal significant gaps in financial literacy—financial knowledge across our economy and society. As the financial world becomes more complex and individuals take on greater responsibility, the P19 platform is bringing increased attention to this topic.

Vienna, March 31, 2026 – Financial literacy is increasingly becoming a critical prerequisite for innovation and economic competitiveness—far beyond national markets. While payments and the broader financial landscape continue to evolve rapidly, understanding often lags behind. This is exactly where P19 steps in, positioning itself as an initiative that strengthens knowledge transfer in financial literacy.

Recent studies clearly highlight the need for action: according to the OECD, only about one-third of adults possess basic financial knowledge, and in the EU, fewer than 20% of people demonstrate a high level of financial literacy. At the same time, individuals and businesses are taking on greater responsibility for financial decision-making.

The link between financial knowledge and innovation is particularly evident in the payments space: a lack of understanding slows the adoption of new solutions, while solid knowledge accelerates their uptake and acceptance. Financial literacy thus becomes a key factor in determining how effectively technological developments impact the market.

Its importance goes beyond individual decision-making. Financial literacy influences how quickly innovations are adopted, how markets function, and how competitive economies are. As the financial system continues to digitalize, the need for guidance and context is growing. P19 contributes by consolidating knowledge, fostering exchange, and connecting relevant stakeholders internationally and with the media.

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