Transaction Efficiency Research Articles

Implementasi Sistem Pendataan Transaksi dan Pengelolaan Stok Menggunakan OutSystems Berbasis Website

Transaction recording, stock management, and monthly transaction reporting are critical activities that support a company’s operational workflow. At PT. Bintang Permata Semesta, these activities are still conducted manually, leading to difficulties in accessing real-time data, as well as increasing the potential for operational errors. With technological advancements, web-based systems have emerged as effective solutions to streamline these processes. This research focuses on the development of a web-based transaction recording and stock management system using OutSystems, a low-code visual development platform designed for rapid application creation. The system developed includes features such as transaction recording, automatic stock calculations, data searching and filtering, low-stock level notifications, and automatic monthly transaction report generation. Additionally, the website is synchronized with cloud services, enabling access anytime and anywhere via desktop or mobile devices. The research utilizes a qualitative method, gathering primary data through structured interviews, direct observations, and literature reviews. The software development method used is Personal Extreme Programming (PXP). The resulting system aims to assist employees in both the main and branch offices with more efficient transaction recording, real-time stock monitoring, and report generation. This implementation highlights the benefits of using OutSystems to create a dynamic and user-friendly web-based system, ultimately improving operational efficiency within the company.

Fintech and Regtech as Tools of Financial Digitalization and the Regulatory Framework in Achieving Sustainable Development Insights from Albania

Objectives: This study endeavors to scrutinize the development of e-banking services, which represent the most recognized and utilized form of digital finance in the nation with respect to the attainment of Sustainable Development Goal 9 (SDG9). Method: This research employed an online survey in conjunction with a SWOT analysis to assess the strengths, weaknesses, opportunities, and threats related to FinTech and RegTech within Albania. Results: The key finding derived from the questionnaire suggests that the predominant form of smart technology recognized and utilized by Albanian consumers is e-banking. The SWOT analysis delineates the evident strengths of FinTech, including near instantaneous and efficient transactions, minimal transaction fees, and continuous access to checking accounts. However, the study found that consumers possess limited familiarity with FinTech services and RegTech. Research implications: The study highlights the imperative for Albania to adopt an activity-based regulatory approach that applies consistent rules regardless of the legal status of the entity or the level of technology employed. Specifically, it is essential to formulate a regulatory structure that facilitates the entry of new market participants, thereby enhancing competitive dynamics in the market and modernizing the delivery of traditional financial services. Originality/Value: This research contributes to the ongoing discourse regarding the advancement of FinTech and RegTech in developing nations and provides salient recommendations for policymakers, regulators, and financial institutions in leveraging digital technologies within an emerging market context such as Albania.

Deciphering Smart Contracts, Legal Challenges, and Opportunities in Implementing Blockchain in the Property Sector in Indonesia

This research investigates the implementation of smart contracts in the Indonesian property sector, examining the legal opportunities and challenges involved. Blockchain technology offers high transparency, efficiency, and security in property transactions, but faces regulatory and infrastructural hurdles. The aim of this research is to explore the related legal dynamics, identify socio-economic impacts, and offer sustainable solutions. The research method employed is a qualitative legal approach to gather and analyze data. The findings indicate that although blockchain can expedite transaction processes and enhance transparency, the legal validity of smart contracts and consumer protection remain major issues. Regulatory updates and increased awareness of data security are necessary to optimize the adoption of this technology in Indonesia.Keywords: Blockchain., Property law., Regulation., Smart contracts., Transparency

Exploring Consumer Behavior in Indonesian Online Marketplaces

The burgeoning landscape of online marketplaces in Indonesia has prompted an exploration into the intricate interplay between consumer browsing behaviors and their impact on e-satisfaction, electronic word-of-mouth (e-WOM), and repurchase intention. This study investigates these relationships within Indonesian online marketplaces, employing a robust quantitative methodology. Surveys were conducted with 962 users of Indonesian online markets, and data was analyzed using SPSS 29 and Smart PLS 3. Findings reveal significant associations between utilitarian browsing and both e-satisfaction and repurchase intention. Hedonic browsing also significantly influences e-satisfaction, though its impact on e-WOM is less pronounced. E-satisfaction emerges as a critical precursor to both repurchase intention and e-WOM, underscoring its pivotal role in shaping consumer behavior within online marketplaces. Practical implications suggest businesses in Indonesian online marketplaces should adopt a multifaceted approach to platform design, prioritizing user satisfaction and transactional efficiency. Proactive customer satisfaction initiatives, coupled with leveraging satisfied customers as brand advocates, are essential for fostering long-term loyalty and advocacy. Theoretical contributions refine existing models in e-commerce and marketing, emphasizing the dynamic nature of online consumer behavior and its implications for managerial decision-making. While the study provides valuable insights, acknowledging its limitations underscores the need for future research. Longitudinal studies, qualitative approaches, and comparative analyses across cultural contexts are recommended to further explore online consumer behavior in Indonesian marketplaces and beyond. This research contributes to both scholarly understanding and managerial practices in the dynamic realm of online retail.

Digital Payments and their Role in Enhancing Financial Transactions Efficiency

The concept of digital payments is examined in relation to the improvement of the performance of financial transactions. The key research objectives include; The evaluation of speed in transactions that have been enhanced, The reduction in cost of the transactions that is in relation to the current trend, The increase in frequency of the transactions that has been realized, The decrease in error rate in the use of the digital payment systems, and The general satisfaction of the users in engaging in the digital payment systems. In support, the research uses both quantitative data analysis of the sample of 47 businesses alongside qualitative case studies to get deeper understanding of the effects of digital payments. The quantitative findings reveal a 66 percent prevalence rate for the identified clinical manifestations of PTSD in the participants. 7% improvement in the transaction time, 50% cut in the transaction costs, 150% increase in frequency of transactions, 80% decline in the errors, and 40. This resulted to a 6% boost in the user satisfaction scores. These results show that there are great advantages when using digital payments in the aspect of speed and precision. The qualitative findings also support these outcomes and add basic utilitarian viewpoints originating from business owners and consumers. The study supports the theoretical framework of the Transaction Cost Theory and proves that digital payments minimize costs and increase operational effectiveness. The implications are far-reaching for the businesses and the financial institutions where it is recommended that they embrace digital payment systems to improve performance and competitiveness. As for the future research suggestions, it is recommended to focus on the samples’ increase and the inclusion of more diverse participants, the use of the longitudinal research designs, and the analysis of the effect of the modern technologies such as blockchain and artificial intelligence on the digital payments. The recommendations are more down-to-earth and stress the necessity of strategy, training, support, and secure IT solutions.

Analisis Perbandingan Laba UMKM Sebelum dan Sesudah Menggunakan QRIS (Studi Kasus Pada: UMKM Kuliner Bandar Lampung)

The very rapid development of technology can be seen from the large number of people who use technology in everyday life. The presence of non-cash payments such as QRIS can increase efficiency in managing the finances of a business but can also increase the profits of a business. The use of QRIS is increasingly being used by MSMEs, there are various promotions carried out, as well as various other factors that can influence the success of MSMEs because it increases efficiency (ease) in transactions and makes it easier for MSMEs to carry out buying and selling transactions and book keeping their finances. This research aims to determine the comparison of MSME profits before and after using QRIS in Bandar Lampung Culinary MSMEs, so it is classified as associative or relationship research, namely research to determine cause and effect, using quantitative research methods. The data in this research was obtained using a questionnaire distributed to 30 culinary MSMEs using QRIS in Bandar Lampung City. To analyze the data, the SPSS application was used. The results of this research showed that there were differences in MSME profits before and after using QRIS in Bandar Lampung Culinary MSMEs. This was concluded based on the independent t test. It can be seen that the significance value is smaller than 0.05 (0.001 0.05). In this research, the significance value is smaller than the stipulated significance value, namely 0.05, so we accept the hypothesis, namely that there is a difference in MSME profits before and after using QRIS in Bandar Lampung Culinary MSMEs.

Investigating the critical drivers of Fintech adoption to promote business sustainability of SMEs

Purpose Under the integrated perspective of the Net Valence Framework (NVF) and Theory of Reasoned action (TRA), this research intends to examine the impact of drivers (perceived risks (PRs) and benefits) on FinTech adoption (FA) as well as on business sustainability (BS) of small and medium-sized enterprises (SMEs) in Oman. The purpose of this study is to examine the impact of drivers (perceived risks and benefits) on FinTech adoption (FA) and business sustainability (BS) of SMEs in Oman , under the integrated perspective of the Net Valence Framework (NVF) and Theory of Reasoned Action (TRA). Design/methodology/approach Primary data was collected from 402 owners and managers of SMEs in Muscat, Oman using a purposive sampling method. Structural Equation Modeling with Partial Least Squares was mainly applied to assess the PRs and perceived benefits (PBs) determining both FA and BS of SMEs. Findings The results indicate that PBs (economic, convenience, transaction efficiency) positively impact FA, while PRs (financial, legal, security, operational) act as deterrents toward FA. Both the benefits and risks significantly influence BS. FA itself fosters sustainability, and PBs directly enhance it through ease of use, cost reduction and knowledge acquisition. Conversely, PRs hinder sustainability due to concerns about skills gaps, security, social inclusion and environmental considerations. Practical implications The research forms a model capturing the pros and cons of FA of SMEs to provide stakeholders with ideas that would promote sustainability and drive fintech-based growth and innovation. For instance, by improving financial management efficiency, increasing market access and enhancing competitiveness, SMEs can adopt fintech solutions to support sustainable growth and achieve Sustainable Development Goals across the region’s economy. Originality/value The current research, through the lens of the NVF as well as TRA, explores the contribution of FA determined by PRs and benefits toward BS of SMEs in the context of Oman.

Efficient Simulator for P2P Energy Trading: Customizable Bid Preferences for Trading Agents

Given the accelerating global movement towards decarbonization, the importance of promoting renewable energy (RE) adoption and ensuring efficient transactions in energy markets is increasing worldwide. However, renewable energy sources, including photovoltaic (PV) systems, are subject to output fluctuations due to weather conditions, requiring large-scale backup power to balance supply and demand. This makes trading electricity from large-scale PV systems connected to the existing grid challenging. To address this, peer-to-peer (P2P) energy markets where individual prosumers can trade excess power within their local communities have been garnering attention. This study introduces a simulator for P2P energy trading, designed to account for the diverse behaviors and objectives of participants within a market mechanism. The simulator incorporates two risk aversion parameters: one related to transaction timing, expressed through order prices, and another related to forecast errors, managed by adjusting trade volumes. This allows participants to customize their trading strategies, resulting in more realistic analyses of trading outcomes. To explore the effects of these risk aversion settings, we conduct a case study with 120 participants, including both consumers and prosumers, using real data from household smart meters collected on sunny and cloudy days. Our analysis shows that participants with higher aversion to transaction timing tend to settle trades earlier, often resulting in unnecessary transactions due to forecast inaccuracies. Furthermore, trading outcomes are significantly influenced by weather conditions: sunny days typically benefit buyers through lower settlement prices, while cloudy days favor sellers who execute trades closer to their actual needs. These findings demonstrate the trade-off between early execution and forecast error losses, emphasizing the simulator’s ability to analyze trading outcomes while accounting for participant risk aversion preferences.

Hybrid game model for electricity trading and pricing among multiple microgrids and consumers based on demand-side complex networks

Local energy markets (LEMs) are pivotal for enhancing renewable energy consumption and facilitating green electricity by linking multiple microgrids (MMGs) and consumers. Existing studies often overlook the evolution of consumer purchasing strategies influenced by social spatial structures and social learning dynamics. This paper addresses this gap by introducing a hybrid game model for LEMs electricity trading and dynamic pricing, integrating demand-side complex network structures. This model encompasses dynamic interactions between MMGs and electricity and carbon markets, employing non-cooperative games among MMGs, complex network evolutionary game among consumers, and Stackelberg games between MMGs and consumers. It promotes efficient transactions and adaptive pricing through distributed algorithms optimizing equilibrium solutions. Key findings include: (1) Compared to Power-to-Grid and Peer-to-Peer models, our model increased MMGs' revenues by 44.10 % and 10.60 %, reduced consumers’ costs by 8.76 % and 1.15 %, and cut carbon emissions by 93.32 % and 77.30 %, significantly boosting economic and environmental benefits. (2) Complex network analysis underscores the importance of social learning in adjusting power consumption strategies and pricing mechanisms. (3) Multidimensional consumer decision-making enhances renewable energy valuation, fosters price competition among MMGs, and accelerates low-carbon transitions in LEMs, providing crucial theoretical support for LEM structure design and policy to enhance renewable energy use.

Comprehensive Survey on E-Commerce and Blockchain

The rapid growth of e-commerce has led to an increasing demand for secure, transparent, and efficient transactions. This project presents an e-commerce platform built on blockchain technology, aiming to address the challenges of traditional online marketplaces, such as fraud, data breaches, and intermediaries' fees. By leveraging blockchain's inherent characteristics— immutability, transparency, and security—our platform facilitates seamless transactions between buyers and sellers, reducing reliance on intermediaries and lowering operational costs.  Key Features of the Platform Include:  Payment Processing: Integration of cryptocurrencies enables fast and secure payments, facilitating cross- border transactions without the need for banks or other intermediaries.  Product Authenticity: Tokenization of physical products as digital assets ensures authenticity and traceability, particularly valuable in industries like fashion, luxury goods, and art.  Customer Data Privacy: Customers retain control over their personal information, deciding what data to share with merchants, enhancing privacy, and ensuring compliance with global data regulations.  Loyalty Programs and Rewards: Digital tokens and reward points can be issued that are transparent, transferable, and usable across various platforms, making loyalty programs more versatile and valuable.  Decentralized Reviews and Ratings: The integrity of product reviews is ensured by using blockchain to prevent manipulation, making customer feedback more trustworthy. To demonstrate the feasibility of the platform, we implement features such as user registration, product listing, secure payment processing using cryptocurrency, and an efficient dispute resolution mechanism. Through a user-friendly interface and robust backend architecture, this blockchain-based e-commerce solution aims to redefine the online shopping experience, providing enhanced security, lower costs, and greater trust for all participants in the ecosystem.

PENGUJIAN NESS-APP UNTUK DETEKSI SARANG BURUNG WALET TESTING OF NESS-APP FOR DETECTING SWIFTLET NESTS

This article discusses the development and testing of the Ness-App application, designed to detect and assess the quality of swallow nests effectively and efficiently. The main issue addressed is the difficulty in determining the quality of swallow nests through photos or videos in buying and selling transactions. The purpose of this research is to develop an Android application using object detection technology to assist PT. Waleta Asia Jaya in assessing the quality of swallow nests. The method used involves creating an object detection model using Convolutional Neural Network (CNN) and SSD MobileNet architecture. The results indicate that the Ness-App application can improve transaction efficiency and quality, providing a better understanding of swallow nest conditions for collectors and farmers. In conclusion, Ness-App supports digitalization and technological advancement in the swallow nest industry by providing an effective tool for quality assessment and accelerating the transaction process.

DIGITALIZING FINANCIAL RECORD FOR IMPROVING CIOMAS JAYA MSMEs ADVANTAGE COMPETITIVE

The financial aspect is a key factor in business activity process, especially for Micro, Small & Medium Enterprises (MSMEs). Financial management process has a major impact on business sustainability. Generally, MSMEs have financial problems, including (1) less financial understanding, (2) low awareness of financial recording, and (3) the inability to use appropriate digital financial platforms. Based on this reasons, this activities aim to 1) provide education and training on the importance of good and correct MSME financial management according to the needs and interests of each business, 2) educate MSMEs about digital finance, its benefits and advantages for daily business activities, and 3) provide training and assistance on how to use the BukuWarung application as a medium to record and control the financial flow of business processes. The existence of these activities increases the technical capabilities Micro, Small & Medium Enterprises (MSMEs). Technical matters will ultimately increase the productivity and efficiency of business operations and transactions.

THE INNOVATIVE TRANSFORMATION IN THE RA BANKING SYSTEM

The analysis shows that the innovative transformation in the banking system of Armenia is a multi-level process that has a significant impact on the entire financial sector of the country. One of the key aspects of this transformation is the deep integration of modern technology into banking. This not only facilitates the interaction of customers and banks, but also increases the level of transparency and efficiency of financial transactions. The innovation of the RA banking system contributes to the expansion of access to financial services, enabling more people to use financial services, especially where they were previously limited. It was concluded that innovations and technological developments enable the banking system to provide faster, safer and more convenient services, reduce human errors and improve the efficiency of processes. New technologies improve the level of security. All of this is leading to greater competition in the banking industry, new ways of working and strategies, and overall improvements in customer service and financial operations (Egorova, A., A., (2015). But they also present new challenges, such as data protection and security issues, as well as the need to use new technologies.

Advancing financial inclusion through digital payment platforms in emerging markets

Advancing financial inclusion in emerging markets has become a critical focus for economic development, and digital payment platforms are playing a transformative role in this process. These platforms offer a scalable solution to bridge the gap between the unbanked population and formal financial services, enabling individuals and businesses to access affordable and secure financial products. The rise of mobile technology and widespread internet penetration have provided the infrastructure for digital payments to thrive, particularly in regions where traditional banking systems are underdeveloped. Key enablers include mobile money services, fintech innovations, and supportive regulatory frameworks that promote adopting digital financial solutions. Digital payment platforms facilitate faster, more efficient transactions, reduce the reliance on cash, and open up opportunities for marginalized groups, including women and small business owners, to participate in the formal economy. They also enhance financial literacy by offering accessible financial education tools, which empower users to manage their finances more effectively. However, challenges such as limited digital literacy, regulatory barriers, cybersecurity risks, and the digital divide must be addressed to maximize the potential of these platforms. Emerging markets have witnessed significant success stories, particularly in Africa and Southeast Asia, where mobile money platforms like M-Pesa and GCash have expanded financial access to millions. These platforms contribute to financial inclusion and stimulate economic growth by integrating more people into the financial system. Moving forward, collaborative efforts between governments, private sector stakeholders, and development organizations are essential to ensuring that digital payment platforms continue to drive financial inclusion sustainably and equitably.. Keywords: Financial Inclusion, Digital Payment Platforms, Emerging Markets, Mobile Money, Fintech, Unbanked Population, Economic Development, Financial Literacy, Digital Financial Services, Mobile Technology.

Evaluating Cash Versus Digital Payment Methods in Global E-commerce

This research examines the roles of cash and digital payment methods in global e-commerce, focusing on transaction efficiency, security, and consumer preferences. While digital payments like credit cards and digital wallets offer convenience and speed, cash remains crucial in regions with limited technology due to its universal acceptance and privacy benefits. Despite growing digital payment adoption, cultural factors still favor cash in certain areas. The paper concludes that a balanced approach, integrating both payment methods, is essential for businesses to cater to diverse global consumer needs.

Foreign Portfolio Investment and Capital Market Development in Nigeria

This study investigates the impact of foreign portfolio investment (FPI) on the development of the Nigerian capital market from 1986 to 2023, addressing challenges such as exchange rate volatility and inadequate technological advancement. The research aims to explore the following questions: What is the relationship between foreign portfolio investments and capital market development in Nigeria? How do exchange rate volatility influence the capital market development in Nigeria? What role do technological advancements play in enhancing market performance and attracting foreign investors? Data were sourced from the Central Bank of Nigeria Statistical Bulletin and the National Bureau of Statistics. A quantitative methodology was employed, utilizing the Johansen co-integration test, Vector Error Correction Model (VECM), and Granger causality test to analyze secondary time-series data. The Johansen co-integration test revealed a long-run relationship among the variables, while the VECM indicated that FPI negatively impacts market capitalization. Additionally, the Granger causality test demonstrated unidirectional causality from capital market development to FPI. To address the identified challenges, the study recommends that policymakers create a more supportive environment that ensures foreign investors can repatriate capital and earnings. The government should prioritize exchange rate stability that reflects market realities to enhance investor confidence. Investments in advanced technology are crucial to improving efficiency and accountability in market transactions. By adopting these targeted recommendations, Nigeria can better leverage FPI to foster capital market growth and promote sustainable economic development. JEL Codes: G15, O16

DC-SoC: Optimizing a Blockchain Data Dissemination Model Based on Density Clustering and Social Mechanisms

Due to its partially decentralized and highly scalable features, the consortium blockchain has currently overtaken other blockchain technologies as the one most frequently used and studied across various industries. However, performance issues such as low transaction efficiency and redundant communication processes continue to hinder the development of consortium blockchains. In the Hyperledger Fabric consortium blockchain system, transaction efficiency is largely influenced by the consensus protocol and broadcast protocol. This paper introduces a novel consortium blockchain network model, DC-SoC, focused on optimizing broadcast protocols. By incorporating the concept of density clustering, a stable propagation structure is established for the blockchain network, thus optimizing data dissemination in the Gossip protocol. Additionally, the concept of social networks is integrated, using trustworthiness scores and economic incentives to evaluate node security. The experimental results demonstrate that when DC-SoC is applied in a large-scale consortium blockchain environment, it significantly improves communication performance between nodes and ensures transmission reliability.

Financial Technology Analysis on the Development of Micro Business in the Sei Sikambing B Market, Sub-District Medan Sunggal City of Medan

The aim of this study is to identify the influence of financial technology (Fintech) on the development of micro-enterprises in the Sei Sikambin B market, Medan Sunggal District, Medan City. MSMEs, which consist of micro and medium businesses, have a large share in economic activities. The study used a quantitative descriptive method through the use of linear regression analysis techniques.E-Wallet, Income, Financial Satisfaction, and Financial Technology (Fintech). The results of the study indicate that PEOU, Financial Satisfaction, Income, and Fintech have a significant influence on the development of micro-enterprises, while E-Wallet does not show a significant influence. This study underlines the importance of fintech in increasing efficiency and satisfaction in MSME transactions, as well as the need for supervision to optimize the benefits of financial technology for micro-entrepreneurs

Design and Development of a Mobile E-Wallet Management Prototype Using NFC Technology

In the era of digitalization, the need for innovation in financial management has become increasingly urgent. With the emergence of E-wallets as a digital payment solution, the efficiency and security of transactions have become primary focuses. Therefore, this research plays a crucial role in presenting an innovative solution by designing and developing a mobile application prototype that integrates E-wallet management with Near Field Communication (NFC) technology. The urgency of this research is highlighted by the increasing use of E-wallets, which indicates that digital financial solutions are gaining wider acceptance in society. In this context, the integration of NFC becomes relevant as it offers higher security and enables more efficient transactions. This study aims to address the growing market demand for digital payment solutions that are fast, secure, and user-friendly. The objective is to design and develop a mobile application prototype that not only simplifies E-wallet management but also leverages the advantages of NFC technology. The goal is to provide users with a more convenient and secure transaction experience. Thus, this research is expected to increase the adoption of E-wallets among the general public. The result of this research is a mobile application prototype integrated with NFC technology for E-wallet management.

Trustworthy V2G scheduling and energy trading: A blockchain-based framework

The rapid growth of electric vehicles (EVs) and the deployment of vehicle-to-grid (V2G) technology pose significant challenges for distributed power grids, particularly in fostering trust and ensuring effective coordination among stakeholders. Establishing a trustworthy V2G operation environment is crucial for enabling large-scale EV user participation and realizing V2G's potential in real-world applications. In this paper, an integrated scheduling and trading framework is developed to conduct transparent and efficacious coordination in V2G operations. In blockchain implementation, a cyber-physical blockchain architecture is proposed to enhance transaction efficiency and scalability by leveraging smart charging points (SCPs) for rapid transaction validation through a fast-path practical byzantine fault tolerance (fast-path PBFT) consensus mechanism. From the energy dispatching perspective, a game-theoretical pricing strategy is employed and smart contracts are utilized for autonomous decision-making between EVs and operators, aiming to optimize the trading process and maximize economic benefits. Numerical evaluation of blockchain consensus shows the effect of the fast-path PBFT consensus in improving systems scalability with a balanced trade-off in robustness. A case study, utilizing real-world data from the Southern University of Science and Technology (SUSTech), demonstrates significant reductions in EV charging costs and the framework's potential to support auxiliary grid services.