Digital Wallet Research Articles

Factors That Determine Financial Well-Being In Digital Wallet Users

Factors That Determine Financial Well-Being In Digital Wallet Users

Pengaruh Pengetahuan dan Sikap Terhadap Minat Mahasiswa Menggunakan Quick Response Code Indonesian Standart (QRIS) Pembayaran Digital

The growth of the digital economy and the acceleration of financial inclusion in a nation will be aided by advancements in technology and information technology. Payment of non-cash transactions is one form of implementation. QRIS Indonesia can be used not only by traders with big businesses; students can also use it as a digital payment method. This is the basis of this research to find out students' interest in the application of QRIS as a digital wallet payment technology. Knowledge and attitudes that affect students' interest in using digital payment QRIS are determined in this study. In this research, it can be seen that the use of QRIS has a great influence on knowledge, attitudes and interest in digital payments.

The Future of Digital Wallets, Contactless Payments, and Their Implications for Investment Banking

Digital payment technology has revolutionized the financial landscape, significantly enhancing the efficiency and accessibility of investment banking. This transformation is driven by the integration of advanced technologies such as blockchain, artificial intelligence, and mobile banking applications

The many features which make the eIDAS 2 Digital Wallet either risky or the ideal vehicle for the transition to post-quantum encryption

The amended Digital Identity Framework Regulation (“eIDAS 2″) is expected to be implemented by 2026, including its new solution of the Digital Identity Wallet from each Member State for its residents, citizens, and businesses. Widely used public key cryptosystems including those in the current EUDI Wallet prototypes are using electronic signatures and authentication that will need to be replaced by post-quantum resistant cryptography (PQC). In April 2024, the EU recommended general action by the Member States to prepare for quantum capability. We suggest that the European Digital Identity Wallet could be the starting point for an impactful debut of hybrid “quantum resistant” cryptography tools to align the Member States in the transition. We look at the awareness campaigns of ENISA and national cybersecurity authorities in the USA, Spain, UK and Germany on the transition to PQC using a hybrid approach. There seems to be some early consensus that NIST's PQC algorithms are likely to set the international standard. Given the eIDAS 2′s flexible, technologically neutral language, it allows the timely implementation of new secure encryption methods. The Wallet could be an exemplary model for large businesses, or app developers, and SMEs that also must transition to PQC to render secure those asymmetrically encrypted quantum-vulnerable digital assets. A very large and relatively fast uptake of the EUDI Wallet system is expected, and if it holds the promises of functionality, user friendliness, and security across the changing technological world, the EUDI Wallet's approach could become a benchmark for the transition to post-quantum capacity.

The Effect of Perceived Ease, Perceived Benefits, and Sales Promotion on Intention to Use with Consumer Behavior as a Moderating Variable in Using Digital Wallets

This study aims to determine the effect of perceived convenience, perceived benefits, and sales promotions on intention to use and consumer behavior in using digital wallets in Medan. Perceived convenience, perceived benefits and sales promotion as independent variables, while intention to use as the dependent variable. This study uses a type of quantitative research, data processing methods using the SmartPLS 4.0 (Partial Least Square) program. The population of this study were all digital wallet users in Medan. The sample was determined by the purpose sampling method, with a sample of 100 respondents. The sample used is Digital Wallet users in Medan. The results of this study indicate that the perceived usefulness variable has no significant effect, while the benefit variable and sales promotion have a significant effect on the intention to use a Digital Wallet.

Providing Security for Flash Loan System Using Cryptocurrency Wallets Supported by XSalsa20 in a Blockchain Environment

The days of long lines at banks and piles of paperwork are long gone. The lending landscape has been completely transformed by digital loans, which provide a quick, easy, and frequently paperless transactions. A payee can apply for a digital loan anytime, anywhere. The entire lending procedure is accessible and efficient, but the availability of data on the Internet provides many risks and threats, where there are certain difficulties in the world of digital lending and data security, and privacy are major concerns. It is important to address the possibility of predatory lending practices that target weaker payees, especially with flash loans, which are considered a critical type of digital loan, as they add additional pressure to banks in terms of security because they return to the same block of the blockchain, and the possibility of tampering with them is considered great. Therefore, we have developed a security protocol based on the principle of digital cryptocurrency wallets: these digital wallets are protected by our use of the Xsalsa20 algorithm. It has high specifications and is enhanced with the usage of the Crow search algorithm, which guarantees fast and efficient search results. After the analysis of the proposed system in the Tamarin Prover tool, we obtained proof of a lot of security properties like data authenticity, perfect forward secrecy, and many others, which constitute the matter that gives our system the power of security. Also, we obtained 0.6667 ms. as the rate of processing speed, 2990 ms. as the time required by the proposed system to repay loans after the conditions are met, and, finally, our proposed system has the power to present a flexible property by creating 29,700 loans every 3 s; by this, we obtained a system that is secure, authentic, fast, and flexible.

Legal Strategy To Prevent And Overcome Abuse Of Funds In Digital Wallets

E-wallet, or electronic wallet, is an application or software that enables users to store, manage, and conduct financial transactions electronically. E-wallets usage is able for various purposes, such as making payments, transferring money, or storing payment information for online transactions. Despite the advantages of e-wallets, there are still risks associated with their use, such as the potential loss of consumer funds and the possibility of personal data leaks due to inadequate security measures on the platform. It can disadvantage consumers as users of e-wallets. Law Number 8 of 1999 concerning Consumer Protection contains various provisions aimed at directing manufacturers and businesses, especially those in the business sector, to behave in a manner that supports national economic development. Bank Indonesia has implemented a legal protection system for digital wallet users, starting from the issuance of regulations and policies. One such policy is the creation of guidelines for the operation of payment system services, especially for the use of digital wallets. These guidelines are regulated in Bank Indonesia Regulation Number 20/6/PBI/2018, which discusses the operation of payment systems through digital wallets. This regulation, known as the Bank Indonesia Electronic Money Regulation, establishes licensing and supervision procedures for electronic money operations, including the use of digital wallets. Bank Indonesia not only regulates operational procedures but also emphasizes consumer protection for payment system users, including those using digital wallets, by issuing Bank Indonesia Regulation Number 16/1/PBI/2014 concerning Consumer Protection for Payment System Providers.

The Influence of Perceived Convenience and Service Features on Interest in Using the Dana Di Digital Wallet Application SETELUK DISTRICT KSB

Many factors influence interest in using e-wallets on the DANA application, one of which is convenience and service features. The aim of this research is to determine the influence of perceived convenience and service features on interest in using the Dana Digital Wallet Application in Seteluk KSB District. The population in this research is the people of Seluk subdistrict, West Sumbawa regency. The data collection technique in this research uses a questionnaire. The data used is primary data and secondary data. In this research, the sample consisted of 100 respondents using a purposive sampling technique using the Slovin formula. The data analysis used in this research is quantitative using the multiple linear regression method. The data is processed using SPSS Statistics 25. The results show that simultaneously Perceived Convenience and Service Features have a significant effect on Interest in Using. Meanwhile, perceived ease of use partially has a significant positive effect on interest in using, while service features partially have a significant effect on interest in using. The large influence of perceived convenience and service features on interest in using is shown by the coefficient of determination of 703 (70.3%). These results show that the variables Perceived Ease (X1) and Service Features (X2) influence the variable Interest in Using (Y). Meanwhile, the remaining 29.7% was influenced by other factors not examined in this study.

The Digital Wallet Revolution: An Empirical Analysis of Its Effects on Mental Accounting and Financial Practices

The Digital Wallet Revolution: An Empirical Analysis of Its Effects on Mental Accounting and Financial Practices

Pengaruh Pemasaran Digital, Kualitas Layanan Elektronik dan Citra Merek Terhadap Keputusan Konsumen Menggunakan Aplikasi OVO

The behavior of digital wallet users in Indonesia depends on individual preferences, user habits, and other factors. Consumers' decisions in using digital finance applications are influenced by various factors, including digital marketing, the quality of electronic services and the brand image of the digital finance applications they use. This research aims to determine the influence of digital marketing, electronic service quality and brand image on consumer decisions to use the OVO application in the Jabodetabek area. The method used in this research is a quantitative method that is associative. Data was collected using a questionnaire distributed via Google Form to 155 respondents who used the OVO application. The sampling technique uses purposive sampling. Data processing in this research used the IBM Statistical Package for the Social Sciences (SPSS) ver.25. Based on the results of hypothesis testing, it shows that: (1) digital marketing variables have a positive and significant effect on consumer decisions to use the OVO application (2) electronic service quality variables have a positive and significant effect on consumer decisions to use the OVO application (3) brand image variables have a positive and significant effect on consumer decisions to use the OVO application and (4) digital marketing variables, electronic service quality and brand image together have a significant influence on consumer decisions to use the OVO application.

ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI MINAT UMKM MUSLIM MENGGUNAKAN QUICK RESPONSE CODE INDONESIA STANDARD (QRIS) DI KELURAHAN PAGAR DEWA KOTA BENGKULU

Bank Indonesia (BI) launched a Quick Response (QR) standard for payments through server-based electronic money applications, digital wallets, or mobile banking. Quick Response Code Indonesian Standard is a unification of various types of QR from various Payment System Service Providers (PJSP) using QR Code developed by Bank Indonesia and the Indonesian Payment System Association which aims to integrate all cashless payment methods in Indonesia. In the era of digit trends the growing number of merchants switched to non-cash payment systems. The purpose of this study is to determine the factors that influence the use of QRIS for MSMEs in the city of Bengkulu, to analyze the benefits and facilities of the interest of MSME users in the city of Bengkulu.

PERCEIVED USEFULNESS AND PERCEIVED RISK ON CUSTOMER SATISFACTION IN USING DIGITAL WALLETS

The rapid development of information and communication technology has had a significant impact on human life. One aspect that is affected is the payment system in trading. Cash payment methods are increasingly being shifted by technological advances, to using financial technology in the form of digital wallets. This research aims to test the influence of perceived usefulness and perceived risk on consumer satisfaction. This research uses quantitative methods. The population used in this research is consumers who use Digital Wallets in Cirebon with a total sample taken using the Roscoe formula of 300 respondents. The sampling technique used is probability sampling. The data analysis technique uses Structural Equation Modeling- Partial Least Square (SEM-PLS). The results of this research show that the variable perceived usefulness is more dominant than the variable perceived risk. This is because consumers look at the perceived benefits first compared to the perceived risks.

Features of electronic money and financial technology development

The development of financial technologies at the present stage leads to the spread and active use of electronic money in national payment systems, which provide a convenient and secure way to carry out fast financial transactions without the need to use cash. Due to this main advantage, the use of electronic money has become widespread in a short period. Digital payment instruments provide users with the flexibility and access to make transactions anytime and anywhere, but at the same time, the development of electronic money circulation is also associated with some problems and the need to improve their regulation. The era of new payment technologies has presented us with new challenges related to various transactions between entities. The development of trade, including via the Internet, has led to the search for new, fast and effective means of payment, in particular when it comes to paying for goods and services. Nowadays, more and more people are abandoning the use of cash in favor of electronic money, which leads to the popularity of the concept of electronic money. The purpose of the article is to determine the impact and features of new technologies, such as blockchain, digital wallet and cryptocurrency, on the functioning of electronic money in the national payment system. The subject of the study is electronic money and payment technologies used in the national payment system, forming a system of electronic economic relations.

Financial Literacy in the Age of Digital Finance: A Global Perspective

Global financial landscapes have changed recently due to the digitalization of financial services, which presents opportunities and difficulties for improving financial literacy. To comprehend how digitalization affects people's financial knowledge, abilities, and behaviors across various socioeconomic and cultural contexts, this study investigates the effects of digital finance on financial literacy levels globally. The main goal is to look into how digital finance affects financial literacy around the world. To clarify the main factors influencing financial literacy in digital contexts, this study will examine the body of existing literature and empirical research. Additionally, it seeks to evaluate the success of ongoing financial literacy programs and suggest methods for improving financial literacy in the face of growing digitization. The study makes use of qualitative research techniques, which include a thorough evaluation of the literature that includes scholarly articles, reports, and policy papers. In addition, document analysis of industry reports and regulatory frameworks pertaining to digital finance and financial literacy is part of it. Effective personal financial management requires financial literacy, which is becoming more and more important when it comes to digital finance. Peer-to-peer lending, digital wallets, and mobile banking are examples of digital finance. While they increase financial inclusion, they also come with a learning curve that must be overcome in order to fully reap the rewards. Research highlights the beneficial relationship between better financial decision-making and financial literacy, which is aided by digital learning resources. Consumer education on digital financial hazards is particularly important in light of challenges with consumer protection and data privacy. Programs for financial literacy that are effective should be customized for a range of demographics and make use of digital platforms to increase relevance and involvement. Developing strong regulatory frameworks to protect digital financial transactions, raising consumer awareness through focused educational initiatives, and improving financial literacy programs to incorporate training in digital financial skills are some of the recommendations. Improving digital infrastructure and adapting educational activities to local contexts are necessary to address global inequities. It is advised to do longitudinal study to evaluate long-term effects, and novel pedagogical strategies such as gamification ought to be investigated to improve financial practices worldwide. This conclusion of the study emphasizes how critical it is to address issues and take advantage of opportunities in digital banking in order to improve global financial literacy. By putting these suggestions into practice, stakeholders can create a robust and inclusive financial ecosystem that protects consumer interests and encourages responsible financial conduct while enabling people all around the world to successfully manage digital banking. In the digital era, this study supports evidence-based policies and practices that promote financial inclusion and sustainable economic development.

A Study on Customer’s Satisfaction and Perception Towards Online Food Delivery Apps

The online food services are ordering a food through mobile app or restaurant app and delivery of ordering food to the customer point. This system is gathering a people through online easily by way of ordering food and access of desired food. It is one of the fast-paced developments in the E-Commerce space. Through those services the customer can access wide variety of food many anywhere at any time from the wide range of restaurant listed online; moreover, payment option for these services like internet banking, digital wallet and cash on delivery enhances the customer’s categories easy way of payment and access of those services. In recent day’s revolution in digital sector, mire Smart phone-based communication led to growth of online food services in majority of cities in the country.

The Monetisation of Personal Data in EU Strategies: The Hoda/Google Case

In July 2022, the Competition and Market Authority opened, on Hoda s.r.l.’s recommendation, an investigation (Competition and Market Authority, 2022) against Google for its alleged abuse of its dominant position and for having hindered interoperability in sharing the data of its users with other operators. Hoda itself is a start-up, active in the intermediation of personal data through the Weople app; natural persons who register with the app delegate Hoda for the collection of their data held by other companies, which are then archived in a digital wallet. The aforementioned proceeding concluded with an undertaking, with communication dated 28th February 2023, by the Alphabet company, to develop new, automatic tools that allow network users to download and export their data from Google to a third-party app. The case leads one to reflect on the consequences and challenges that Europe is called upon to face in managing the phenomenon of the governance and the monetisation of personal data. The institution of data portability, to the extent that it facilitates the circulation of data and the mobility of users, offers alternative operators the possibility of exerting competitive pressure on tech giants such as Google, which assert their dominance on the creation of ecosystems based on the management of potentially unlimited quantities of data, functional to one’s business model. The topic arouses particular interest because if, on the one hand, it paves the way for the monetisation of personal data, on the other, it leads one to reflect, as highlighted in the past by the President of the Guarantor Authority for the protection of personal data, on the consequences in terms of a re-feudalisation of social relationships that the remuneration of consent to the treatment of one’s data would risk determining.

Khalti: a digital wallet in Nepal

Learning outcomes After completion of the case study, the students will be able to understand competitive business and corporate strategies; understand various standard models and frameworks related to business and corporate strategy development such as Porter’s five forces model, Ansoff matrix, three value disciplines frameworks, scenario planning matrix and value chain analysis; and practice competitive strategy formulation using the latest analyzing tools/frameworks/models. Case overview/synopsis Although the digital wallet industry in Nepal was in its initial stage, it was growing rapidly. A digital wallet brand – Khalti, launched in 2017, could secure the second position in the industry within two years of establishment. In recent times, the leading digital wallet brand was eSewa which was developed by Kathmandu-based company – F1Soft International in 2009. Khalti team was better for creativity, risk-bearing capability, intact bond among co-founders, innovative skills and aggressive growth. Mr Amit Agrawal, the chief executive officer of Sparrow Pay Pvt. Ltd, was preparing to formulate some strategies for his company’s product, Khalti, on March 24, 2020. The next day, he was going to present his ideas about the future directions of Khalti with the co-founders of Janaki Technology, the parent company of Sparrow Pay Ltd. Therefore, his major agenda was how to design effective strategies to make Khalti more competitive against eSewa and probably lead the industry. Based on such a scenario, this case study deals with various competitive business and corporate strategies such as marketing, product and cost differentiation that Khalti could formulate to maintain its position and further become a leading firm in the industry. Complexity academic level This case study is suitable for business training programs at the master’s level, including Master of Business Administration and executive education. It is also appropriate for undergraduate students, particularly those who want to understand more about competitive business, strategic management and corporate strategy in developing economies. It is especially useful for students who have taken courses in strategic management, corporate strategy, marketing management and business expansion management. This case study is suitable for provoking skills of students such as critical and creative thinking, risk analysis and business planning. Supplementary materials Teaching notes are available for educators only. Subject code CSS 11: Strategy

ANALYSIS OF THE DSN MUI FATWA ON SHARIA ELECTRONIC MONEY FROM THE PERSPECTIVE OF QIYAS (A STUDY ON LINKAJA SYARIAH APPLICATION)

This study aims to analyze the content of DSN MUI Fatwa No. 116/DSN-MUI/IX/2017 on Sharia electronic money from the perspective of qiyas, focusing on the case of the LinkAja Syariah application. The research method used in this study is descriptive qualitative, and the approach employed is library research. The findings of this study indicate that the LinkAja Syariah application is a development model of the LinkAja application designed to facilitate transactions while adhering to Sharia principles in its operational system. Similarly, the transactions follow the principles of cash payments and interbank transfers in Sharia banking, implementing Sharia financial principles. Thus, using the digital wallet application through LinkAja Syariah is legally permissible (mubah) as it fulfils the requirements and conditions of qiyas.

Tinjauan Yuridis Perlindungan Hukum Terhadap Penggunaan Dompet Digital (E-Wallet) Dalam Sistem Pembayaran Di Indonesia

This research aims to determine the form of use of Digital Wallets in the payment system in Indonesia and to determine legal protection for the use of digital wallets in Indonesia. This research uses normative legal research methods. The use of normative research methods in research efforts and writing this article is based on the suitability of theory with the research methods required by the author. 1) Electronic Wallet Operators provide services in the form of online transaction payments so that the process becomes more practical, faster and cheaper. Electronic Wallets are equipped with various features to facilitate online transactions between consumers and business owners or between business actors (B2B). In the mechanism, the Electronic Wallet will be filled in by consumers (deposits) via their banking account with the desired nominal value. Then, if the consumer makes a transaction, the Electronic Wallet will be debited according to the nominal transaction. When making a deposit, this Electronic Wallet can be filled via several payment methods, namely via credit card, mobile banking, internet banking, ATM, debit card, corporate internet banking, branchless banking agent, online virtual account, and Electronic Invoice Presentment & Payment ( EIPP ). and 2) Dana e-wallet users who suffer losses due to non-compliance with the services they receive can take out loans for their losses legally through court or outside court in accordance with the provisions of the Consumer Protection Law.

Digital payments and bank competition

This article examines how competition between banks and a digital PSP impacts the lending rate and the consumers’ use of payment instruments. The digital PSP offers a digital wallet and payment services, but does not offer credit. In contrast, banks invest their deposits in lending activities, which implies that they may incur some costs of adjusting their liquidity needs when consumers make payments. I show that the adoption of the digital wallet for payments may sometimes increase the volume of payments by bank deposit transfers and the lending rate. This results from banks’ trade-off between lowering their costs of liquidity when consumers pay from their digital wallet and reducing the revenues they receive from bank transfer fees.