Digital Financial Literacy at the Individual Level: A Systematic Review and Bibliometric Analysis of Its Conceptualization and Measurement through 2025

Digital financial literacy (DFL) has become a central construct for explaining the use of digital financial services and the inclusion and well-being associated with them. However, heterogeneous definitions and instruments limit comparisons across studies. This study examines the evolution, intellectual structure, and thematic approaches of individual-level DFL research through 2025, focusing on its conceptualization and measurement. A systematic review following PRISMA 2020 was complemented by a bibliometric analysis of records downloaded from Scopus and Web of Science. Of 8121 records identified, 2263 were exported after platform-level filtering, and 1767 were unique; 275 underwent eligibility assessment, and 62 studies met the thematic and methodological criteria. The bibliometric analysis covered 2237 records published between 2011 and 2025 (Scopus, n = 1378; Web of Science, n = 859) and was conducted using Bibliometrix and VOSviewer. Publications were concentrated in 2020–2025 (90.6% in Scopus and 94.4% in Web of Science), with Indonesia leading in Scopus and the United States in Web of Science. Sources and authors were widely dispersed, and psychometric measurement terms were absent from the main nodes of the conceptual structure. Of the 62 included studies, 28 explicitly addressed DFL, whereas 34 examined financial literacy, digital literacy, or both as separate constructs. Forty-five were empirical association studies, and only eight focused on instrument development or evaluation, three of which specifically measured DFL. The studies formed three thematic groups: definitions, measurement, and determinants; specific populations; and inclusion and well-being. The expansion of the field has not been matched by comparable advances in evidence supporting score validity and comparability. A validation agenda addressing instrument versions, populations, and languages is therefore proposed.