Mapping Pathways for Inclusive Digital Payment Ecosystems: Integrating NGOs, Micro-Insurance Startups, and Community Groups

Digital financial inclusion is an effective and efficient measure in accelerating financial inclusion, including in Indonesia. This study aims to analyze sociodemographic factors on the probability of digital payment usage. The data used comes from the World Bank Gallup World Poll Survey 2021 on the Global Financial Inclusion Index released by the World Bank, with 1,062 respondents. By applying logistic regression, this study explores the influence of sociodemographic factors such as gender, education, income, age, place of residence, and internet access on the probability of using digital payments. The results show an imbalance in gender, with women having a higher likelihood of using digital payments. Additionally, higher education and income levels increase the likelihood of using digital payments. However, there is an inconsistency where higher income actually reduces the likelihood of using digital payment services. On the other hand, there is a disparity in opportunities between individuals living in rural and urban areas and in accessibility to the internet. The U-shaped hypothesis regarding the relationship between age and digital payment usage is proven in this study. Overall, the results show that individuals with higher sociodemographic status are more likely to use financial technology.

Despite the benefits of financial inclusion through digital payments, many entrepreneurs in Mexico perceive more obstacles than advantages when joining the payments network. By analyzing the case of E-fectivo, a technological solutions firm that offers financial products and services, this study aims to understand how digital payments contribute to financial inclusion and if a Service-Dominant Logic (SDL) incentivizes a wider adoption of them. To do so, the study was divided into three phases: firstly, the application of a questionnaire took place in Cuetzalan, México within five dimensions: 1) financial inclusion, 2) user experience, 3) personalization, 4) relationship and 5) financial education. Secondly, a graph analysis was made to analyze the percentage and values of respondents that comply with the elements of the SDL. Finally, a statistical and correlation analysis was made to confirm the research questions and adjustment of the model. We found that, even when the use of digital technologies is common and easy in Mexico, that does not guarantee confidence in digital payment services. The limitation of the study is that it considers only rural and semi-rural regions.

This paper examines the role of digital banking in advancing financial inclusion in the United States and Nigeria, aiming to identify and compare practices and outcomes in these two distinct economic contexts. Through a comprehensive review of existing literature and analysis of case studies, the study explores how digital banking platforms and services have been implemented and their impact on underserved populations. The research methodology includes a comparative analysis of secondary data, policy documents, and interviews with key stakeholders in the banking sector of both countries. Key findings reveal that digital banking has significantly contributed to financial inclusion by providing accessible, affordable, and convenient financial services. In the USA, technological advancements and a robust regulatory framework have fostered a competitive digital banking environment, leading to innovative solutions for reducing barriers to financial access. Conversely, in Nigeria, despite facing infrastructural and regulatory challenges, mobile banking and digital payment services have seen rapid growth, driven by the necessity to reach unbanked populations in remote areas. The paper concludes that while both countries have made strides in leveraging digital banking for financial inclusion, the success and scale of implementation vary due to differences in economic development, regulatory environments, and technological infrastructure. It suggests that cross-country learning and adaptation of best practices could further enhance the effectiveness of digital banking in promoting financial inclusion globally. This study contributes to the understanding of digital banking's potential in bridging the financial inclusion gap and offers recommendations for policymakers and financial institutions in both developed and developing countries. Keywords: Digital Banking, Financial Inclusion, Regulatory Frameworks, Policy Initiatives, Mobile Money, Digital Payment Systems, Regulatory Sandboxes, National Financial Inclusion Strategies, Consumer Protection, Financial Stability, Cybersecurity, Digital Literacy, Fintech Innovation.

PurposeTo help inform the debate over whether socio-demographic characteristics are related to the use of digital technologies, the authors investigated the effects of age, gender, education, income and being in the workforce on changes in using financial digital services using panel data collected in the MENA countries during 2017.Design/methodology/approachThis study aims to identify the impact of government policy on the determinants of financial inclusion and digital payment services in the MENA region. The authors use microdata from the 2017 Global Findex database on MENA countries to perform probit estimations. The paper focuses on the role of technology adoption by government authorities in extending financial inclusion and digital payment around different people.FindingsThe authors find that poorer people (and, by association, less educated people) and the young (but less so the elderly) are disproportionately excluded from the financial system. Results confirm that better collaboration between the government and the financial sector can help to develop digital financial inclusion through the technology adoption channels. The study confirms the significant impact of the government cashless policy in advancing financial inclusion in the MENA countries, with potentially wider applicability to other developed economies.Practical implicationsPolicies to advance mobile money innovations could stimulate financial inclusion by promoting digital transaction services. The role of government authorities is imperative to harness the beneficial and sustainable gains from digitizing remittances and transfers to promote a cashless economy.Originality/valueFinancial inclusion promotes equality through a broadening of the system and government cashless policy can be a major catalyst for greater financial inclusion. It helps in the overall economic development of the underprivileged population and contributes to poverty reduction.

The trend of using digital payment in Indonesia is increasing every year. Most people have been felt the benefit of Digital Payment service. This research provide perspective about awareness, perceptions and preferences of students in Indonesia towards digital payment-based payment system. This quantitative research involved 104 students from various universities in Indonesia. The information collected by a questionnaire and was analyzed by descriptive statistical techniques. The result of this study indicate that the awareness of students in Indonesia about digital payment services is very high. The convenience of using this service, the availability of services, discounts and reward points are the main factors that influence them in choosing digital payment service. This research also show that the majority of students prefer to continue using digital payment service. The results of this study can be useful for digital payment service provider in order to increase service satisfaction.

Purpose: The Indian Banking sector is striving hard to popularise digital payments and has gained momentum after demonetization and digital India initiatives. To facilitate digital payments, “National Payment Corporation of India (NPCI)” launched the “Unified Payment Interface (UPI)”, which is an amazing, revamped, and cost-effective breakthrough for enabling digital payment services for all. Proliferation of smartphones, technological innovations, and effective internet communications has signified the usage of mobile payment facility for smartphone users, financial institutions and particularly the banks. To achieve paperless and cashless economy, Unified Payment Interface (UPI) is a potentially innovative way of transferring funds using a virtual payment address established by the National Payment Corporation of India (NPCI). Hence, it is needed to be assessed for its potential to contribute towards achievement of digital economy. Design/Methodology/Approach: This paper is focused on understanding Unified Payment System’s (UPI) growth and its progression in retail digital payment over the years. The study was carried out by exploring secondary data sources and by applying Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis format. Finding/Result: UPI has shown remarkable growth in last couple of years due to customer’s shift towards contactless payments over other methods. Study revealed that the growth of digital payments has increased significantly, especially in the retail payment sector on the UPI platform. Originality value: This study examines UPI's position in the digital payment ecosystem, with an emphasis on identifying UPI's core strengths and growth prospects, as well as areas for future research to investigate India's complete e-payment ecosystem. Paper type: A research case study on Digital Payment Service in India - A Case Study of Unified Payment Interface

While digital payment services have expanded rapidly in Vietnam, adoption remains uneven in rural areas, where users often face infrastructural limitations and psychological and social barriers. Existing research has primarily focused on behavioral intention and applied fixed theoretical models, such as the Technology Acceptance Model (TAM) or Unified Theory of Acceptance and Use of Technology (UTAUT), which may not fully capture the realities of technology use in underserved communities. This study addresses these gaps by examining the effects of trust, perceived risk, and social influence on the actual use of digital payment (DP) services among rural users in northern Vietnam. A structural model was developed and tested using survey data collected from 463 individuals across Lang Son and Cao Bang provinces. Using structural equation modeling, the study finds that both trust and social influence are significant positive predictors of behavioral use, whereas perceived risk does not have a statistically significant impact. Furthermore, demographic factors such as age, education, occupation, income, and household size were unrelated to usage behavior, suggesting that perceptual and social variables outweigh structural ones in determining Fintech engagement in rural contexts. These findings underscore the significance of relational trust and community validation in sustaining digital behavior. By focusing on actual usage rather than intention, this study contributes a more grounded understanding of Fintech adoption. It offers a context-sensitive framework that extends prior research and provides actionable insights for promoting inclusive digital finance in marginalized populations.

This Study aims to determine the factors that influence users in using digital payment in transactions. The Unified Theory of Acceptance and Use of Technology (UTAUT) is used as a research model with independent variables: performance expectations,effort expectancy, facility conditions, social influence and extend UTAUT research model with trust and perceived innovativeness. This study also changes the relationship between the influence of intention to use E-WOM and Loyalty.This research method uses an online survey method that is distributed using Google Surveys. The research data were collected from 355 digital payment users of Indonesia private banks who had the experience of using digital payment. The structural equation modeling technique was used to test the research hypotheses. Primary data collected were analyzed using SmartPLS software. Findings suggest that performance expectancy, facilitating conditions, trust, perceived innovativeness factor in influencing the digital payment adoption intention. effort expectancy, social influence, do not have a effect on behavioral intentions. On the other hand, digital payment adoption intention has also had a significant positive effect on loyalty and word-of-mouth (WOM). This study contributes to the literature on digital payment services and usage behavior. This research can provide an overview for banking and non-bank financial services to always maintain the quality of digital payment applications so that they always provide benefits to improve performance, effectiveness and also productivity for those who use them. And innovate and also develop new features in digital payment applications in order to attract public attention. From theoretical and managerial aspects, this study has particular value for the literature on digital payment intention in general and banking in particular. The present study provides a conceptual framework for digital payment M-banking adoption intention, which could be used in digital services. In addition, this study sought to extend UTAUT and to examine the behavior intention in WOM and Loyalty.
 
 Keywords: Digital Payment, WOM, Loyalty, UTAUT, behavior intention , digital payment adoption Paper type Research paper

Digital payment a way to make payment that is made through digital modes. In digital payments the payer and payee or both can use the digital modes to send and receive money. It is also called electronic payment. There is no need for have hard cash for every transaction involved in the digital transactions. All the transactions are done only through online payments. It is convenient way to make payments. The objectives of the studies are: To identify the customer preference towards Digital payment and to measure the customer level of satisfaction about Digital payment services. This study is based on both primary data and secondary data which is collected from the consumers to find out awareness and satisfaction about digital payments. There are 100 respondents were taken for this study y using convenience sampling method. This study was conducted only in Pollachi taluk. The following statistical tools were used to analyze the data: Percentage analysis and Fried man rank test. Some of the findings of the studies are: majority 67% of the respondents are female, majority 69% of the respondents age group between 20-35 years, majority 70% of the respondents are unmarried. The consumers are satisfied with the following methods of digital payments. The first rank given to RTGS and followed by Phone pay, Paytm app, NEFT, RTGS, Net banking, Debit card, Digital wallet, Rupay card, Paypal, and Credit card. It is concluded that most of the respondents are having more awareness about digital payments and also satisfied with the online payment. The growth of users of Smartphone and internet penetration in such area also facilitated the adoption of digital payment.

The increase in studies on how digital transformation based on the application of digital technologies affects the sustainable development of various sectors of the economy has been observed. Although digital transformation is important for the financial sector sustainable development, the drivers and links between them are weakly addressed by researchers. The study is aimed at exploring how digital transformation due to the application of innovative technologies and solutions, especially digital payments, is leading to the financial sector sustainable development through financial inclusion and operational efficiency. The current research presents the study of the financial sector digital transformation and its sustainable development based on a systematic literature review, a secondary data analysis, and expert interviews to provide further research directions and draw practical suggestions for professionals on the financial sector digital transformation toward sustainable development in the future. A systematic literature analysis is performed based on text analytics, a bibliometric analysis, and network maps aimed at acknowledging the existing research outcomes and identifying the research gaps on the digital transformation agenda in the financial sector. The collected data on the digital payments’ dynamic in the EU were analyzed with the use of statistical methods, including a correlation and regression analysis. Structured expert interviews were used to validate research findings and to highlight key issues of the digital transformation in the financial sector of Baltic countries. The authors have paid special attention to the sustainable development of the financial sector’s economic dimension and its efficiency indicators, such as financial inclusion and digital payments’ intensity. A social dimension is limited toward financial inclusion based on digital payments’ offering. The research results indicated recent trends in digital transformation and types of usage of digital technologies in the EU and Baltic countries to ensure the sustainable development of financial institutions. Furthermore, the results revealed a significant increase in the digital payments’ intensity during the last years in the EU, as well as a close relationship between digital payments with financial inclusion and operational efficiency of financial institutions.

The digital transformation of Indonesia's merchant-acquiring industry, accelerated by regulatory initiatives, fintech innovations, and changing consumer behavior, has created significant technological and organizational challenges. Fragmented legacy systems and complex regulatory requirements hinder seamless digital payment adoption. This study investigates the strategic implementation of The Open Group Architecture Framework (TOGAF) to systematically manage these challenges. Through an extensive literature review and case studies of major industry players—including BRI, BCA, Mandiri, BNI, and GoPay—this research uniquely explores TOGAF's specific applicability to merchant acquiring in Indonesia. The proposed TOGAF-based framework aligns closely with Bank Indonesia's Payment System Blueprint 2025, emphasizing enhanced interoperability, regulatory compliance, and sustainable growth. Findings suggest that enterprise architecture can unify fragmented technologies, bridge gaps in merchant activation, and strengthen cybersecurity, ultimately driving innovation in digital payment services. By providing a structured implementation roadmap tailored to Indonesia's regulatory environment, this research not only addresses current industry needs but also sets a foundation for future technological advancement and financial inclusion in Indonesia's merchant acquiring landscape.

The proliferation of digital payment systems has transformed financial ecosystems across the ASEAN region, driving efficiency, convenience, and financial inclusion. However, this rapid growth has concurrently exposed systemic vulnerabilities to financial crime, including fraud, money laundering, and cyber-attacks. This study investigates the capacity of financial institutions and regulatory authorities to mitigate these risks, with a focus on the ASEAN context. It highlights the uneven regulatory maturity among member states, the rise in sophisticated fraud techniques, and the challenges posed by fragmented oversight. Drawing on quantitative data and case studies, the research underscores the importance of harmonized regulatory frameworks, technological innovation, consumer education, and regional cooperation. Strategic recommendations are offered to enhance the resilience of digital payment ecosystems and reduce exposure to illicit finance activities.

The purpose of this study was to determine the influence of perceived security on trusts and their impact on intention to use digital payments. The study used causal studies to determine intervariable influences. The population used in this study is Micro Small Medium Enterprises (MSMEs) actors in the culinary and fashion fields in the city of Bandung who have not implemented digital payment in carrying out their business activities. The type of data used is primary data collected through instruments in the form of questionnaires, then the data is processed using statistical analysis tools. The results showed that perceived security had a positive and significant effect on trust. Then, trusts have a positive and significant effect on intention to use and trusts can mediate the perceived security influence on intention to use. These results show that the perception of MSMEs who consider digital payment safe to use in making transactions, will increase their trust in digital payment services, which are ultimately going to encourage interest in using digital payments. Therefore, it is important to pay attention to perceived security variables and trusts to be able to influence the intention to use digital payment to MSMEs in the city of Bandung

This study explores the impact of digital payment barriers, the preference for digital payment systems, and the adoption patterns of digital payment methods on financial inclusion in Tamil Nadu, India. The research aims to analyse how digital payment obstacles–such as privacy, security, accessibility, and trust–affect users’ adoption and usage of digital payment systems. Additionally, it investigates consumer preferences for features like convenience, security, and ease of use, as well as how these factors influence overall financial inclusion. Data was collected through an online self-administered questionnaire distributed to a sample of 457 participants, utilising a stratified random sampling method. The findings reveal a strong positive relationship between user preferences for digital payment systems and financial inclusion, with an estimated influence of 0.7158 (p < 0.001). Surprisingly, digital payment barriers were found to have a positive impact (Estimate = 0.8042, p < 0.001), suggesting that these challenges may indirectly encourage improvements in digital payment systems, such as enhanced security measures. Furthermore, frequent usage of digital payment systems was shown to significantly enhance financial inclusion (Estimate = 1.3254, p < 0.001). The study emphasises the importance of addressing consumer concerns, such as trust and hidden charges, to foster increased adoption. Additionally, demographic variations, particularly between urban and rural populations, highlight the need for tailored solutions to improve digital payment access. A key novel finding is that consumers’ preferences for digital payments have a direct and positive influence on their financial participation, underscoring the user-driven nature of digital adoption. This research provides valuable insights for businesses, policymakers, and financial institutions aiming to enhance financial inclusion through secure, user-friendly, and accessible digital payment platforms.

As a tourism support industry, businesses have opportunities to grow through digital payment services enabled by financial technology (fintech). This study analyzes the readiness of small-scale SMEs to adopt digital payment systems using a mixed-method approach. Data were collected via questionnaires and interviews from 178 small-scale entrepreneurs selected through purposive sampling. The research evaluates the benefits, ease of use, and potential risks of digital payment adoption. Results indicate that digital payment services provide significant advantages despite certain risks. Entrepreneurs also gained valuable insights into risk mitigation. Using Miles and Huberman's analysis, the study highlights the importance of entrepreneurs' awareness and readiness in adopting digital payment services to ensure business sustainability.