Transformation electronic payment system as predictor on financial satisfaction

Andro Agil Nur Rakhmad Nur Rakhmad,Yesiana Ihda Kusnayain,Dediek Tri Kurniawan Kurniawan

doi:10.20525/ijrbs.v10i8.1480

Abstract

Digitalization in Indonesia has entered a new phase, the development of technology that makes several services run more efficiently and more flexible. Digital services that are quite complex are financial services such as electronic payment systems. Currently, the payment system is able to increase the overall satisfaction of the individual. This study examines the role of using an electronic payment system and the determinants of individual financial satisfaction as a whole. This study uses structural equation modeling (SEM) to test hypotheses regarding financial satisfaction. The results of this study prove that financial capability is able to increase financial satisfaction. However, different results show that the use of an electronic payment system does not affect financial satisfaction. This finding can expand the literature review on digital awareness, satisfaction and behavior in addressing individual financial satisfaction.

Highlights

The development of the digital world that is increasingly advanced encourages the development of buying and selling transaction behavior
Financial advice can affect the use of electronic payment system and financial satisfaction? This study found that financial advice is able to affect the financial satisfaction of a person, this becomes the basis that the advice given will increase satisfaction due to the consideration factors that form of mitigation of a risk (Khan & Akhtar, 2020)
Research on the role of Electronic Payment System (EPS) use is very limited, not many researchers focus on digital behavior in a person, sometimes the importance of digital behavior knowledge can be a benchmark of one's overall satisfaction

Summary

Introduction

The development of the digital world that is increasingly advanced encourages the development of buying and selling transaction behavior. Various kinds of electronic commerce services (e-commerce) make it easier for consumers to transact online (Hossain, Xi, Nurunnabi, & Hussain, 2020). This makes the right momentum for the development of EPS EPS can increase effectiveness and convenience and reduce operational costs. It can be financial satisfaction or financial satisfaction of a person (Khurram & Mohammed, 2020). An individual in achieving financial satisfaction is required to achieve overall life satisfaction (Michalos & Orlando, 2017; Xiao, Tang, &Shim, 2009). According to Xiao & O'Neill (2018) financial satisfaction is a subjective measure of financial well-being and a state of happiness with available economic resources

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Conclusion