Payment Instruments Research Articles

URGENSI PENGATURAN HUKUM CENTRAL BANK DIGITAL CURRENCY DALAM DIMENSI ANTI PENCUCIAN UANG

The issue of digitalized forms of payment systems has required adjustment from a State to accomodate and respond. One of the issues is concerning the use of virtual currencies, and Central Bank Digital Currency. It requires the accomodative and responsive of the law instruments in Indonesia to arrange that issue. The payment systems’ policy in Indonesia has not placed any issues of crypto/digital currency as one of the payment methods. Central Bank Digital Currency is a the digital form of fiat money. Through the Bank Indonesia Regulation Number 18/40/PBI/2016 concerning Operation of Payments Transaction Processing, and Bank Indonesia Regulation Number 19/12/PBI/2017 concerning the Implementation of Financial Technology, it can be understood that Indonesia remain bans the use of any virtual currency as payment instruments. Central Bank Digital Currency has different form of virtual currencies which are not issued by the state, but it is remain called as virtual currencies. In fact, the use of virtual currencies has been exploited by money launderer to do laundering. Virtual currencies has no underlying asset or responsible authority or administrator, volatile, risky, and speculative. This article is a normative legal research method that will analyzed the direction in which Indonesian Law can headed Central Bank Digital Currency while the option has become more less for not response it. The result of this research has showed that it is urgently need for Bank Indonesia (as a central bank in Indonesia) to recognise Central Bank Digital Currency as payment’s instrument.

THE EFFECTIVENESS OF SPAYLATER USAGE IN SHOPPING ACTIVITIES DURING COVID-19 PANDEMIC

This study aims to determine the level of satisfaction with the use of e-wallet (Shopee Pay) as a non-cash payment instrument. The research method used is descriptive qualitative research. The technique of collecting data is by means of a survey in the form of a questionnaire instrument which is then distributed via google form. Simple random sample was used as a sampling technique of 80 respondents. SPayLater is an online shopping platform that aims to facilitate the online shopping process for Shopee users. SPayLater is a payment method that uses bailout funds from the application company in question. SPayLater offers loan products with a 0% initial loan without a minimum transaction. However, we are encouraged to realize the risks that may occur behind this convenience, and this feature might be described as a teaser in the millennial period.

LEGAL PROTECTION FOR E-WALLET CONSUMERS IN THE DIGITAL ECONOMY ERA

The era of digitalization seems to have influenced almost all human activities, including digital banking. By using electronic means, banks can now provide financial services to their customers without going through a physical office. Even today, digital-based financial services are presenting an electronic wallet/e-wallet. An E-wallet is a software-based product that uses internet signal, and Indonesia is starting to recognize it as a digital payment instrument. Implementing electronic money activities reduces cash circulation, referred to as a less-cash society, and makes payment efficient. In general, an e-wallet is an application based on a server, and using it requires a connection with the publisher first. However, the emergence of various kinds of e-wallets at this time is not a solution to reduce the problem but creates complaints on the usage. The current free-market era creates market competition and causes many business actors to only care about profit. Business actors mostly ignore the interests of consumers. Based on this condition, this research intends to deeply examine the legal protection form for e-wallet consumers in Indonesia. This study will use normative/doctrinal legal research methods to answer the existing problems. According to the Indonesian Consumer Protection Law, every e-wallet consumer has the right to get legal protection as a sense of security in making transactions. Consumers of e-wallets who received non-conformance services can sue for their losses legally through court or out of court under the Indonesian Consumer Protection Law provisions.

PERSEPSI MAHASISWA UNIVERSITAS SILIWANGI MENGENAI PENGGUNAAN E-WALLET (SHOPEE PAY) SEBAGAI ALAT PEMBAYARAN NON TUNAI

This study aims to determine student perceptions of Siliwangi University regarding the use of e-wallet (Shopee Pay) as a non-cash payment instrument. The research method used is descriptive qualitative research. The data collection technique is by means of a survey in the form of a questionnaire instrument which is then distributed via google form. Simple random sample was used as a sampling technique of 35 respondents. The indicators used to see the perception are the perception of convenience, the perception of usefulness or benefit, and the last is the perception of risk. This study shows the results that perceived convenience shows 97.85% of students agree that e-wallet (Shopee Pay) provides many conveniences, perceptions of usefulness or benefits show 95.23% of students provide benefits in transaction activities, risk perceptions show 68% of student responses regarding e-wallet (Shopee Pay) is low risk. Judging from the interest in transactions, it shows that 92% of students are interested in transacting via e-wallet in the form of Shopee Pay. Hence, the use of e-wallet in Siliwangi University students is influenced by these three perceptions.

KEABSAHAN STABLE COIN DALAM SISTEM PEMBAYARAN TERINTEGRASI

The non-cash payment instrument that is currently widely used is electronic money. The electronic currency that is currently developing is Stable coin as an answer to the obstacles faced by the payment system where it still relies on third parties as payment product issuing companies but regulations still show inconsistencies in the regulation. The research problem formulation in this article is what are the juridical implications for the validity of transactions using stable coins in a payment system that is integrated with a foreign exchange transfer system. The type of research in this article uses normative juridical research with interpretation analysis techniques on legal materials. The results of the study indicate that the use of stable coins for remittance purposes and foreign trade is legal, as long as the parties agree to use stable coins as a closed loop payment instrument in the system. The use of stable coins in remittances is only limited as a means of intermediary for remittances, but if the use of stable coins is limited it will have negative implications for growth supporting institutions of remittances.

Development of the Payment Cards Market in Poland in the Era of the Covid-19 Pandemic

Abstract Research background: In the era of the COVID-19 pandemic, the tendency of bank customers to use mobile banking is increasing. This is primarily due to the perceived ease and benefits of its use and the subjective assessment of the level of security of such a system. The main goal will therefore be to create such a mobile banking system, which in the era of pandemics, in addition to an easy-to-use interface, will also offer increasingly advanced technological solutions that will provide the customer with a high level of security. In order to meet the expectations of customers, banks will continue to develop and improve the most popular channels of distribution of their services, which are undoubtedly payment cards. Purpose: The purpose of this article is to define and classify non-cash payment instruments on the Polish banking services market in the COVID-19 pandemic era. Research methodology: To examine the current situation prevailing in the payment card market, as well as the factors determining the development of non-cash payments and the direction of future changes in the COVID-19 pandemic era. The research used models of development tendency (trend), and then applied them to forecast changes that will take place on the payment cards market in Poland at the end of 2021 and in 2022. The analysis was carried out using the STATISTICA 13.3 program. Results: a payment card is one of the best options for obtaining cash and every year the traditional cash in the wallet is being displaced more and more by “plastic money”. Novelty: Furthermore, technological advances will bring new solutions to the payment card market and at the same time the e-money market will develop.

Persepsi Penggunaan Uang Elektronik QRIS Pada Generasi Milenial di DKI Jakarta

QRIS (Quick Response Code Indonesian Standard) is a metamorphosis of a payment instrument that is becoming a trend among millennials. The millennial generation who has high mobility and is completely connected to the internet and digital media has great potential to become the main users of QRIS. The study was conducted to analyze the perceptions (maslahah, ease of use, word of mouth, and risk) that influence the decision to use QRIS electronic money in the millennial generation in DKI Jakarta. The research method uses a quantitative descriptive approach with a sample of 96 millennial generation respondents who know and have experience using QRIS electronic money. The sample is determined by non-probability (accidental sampling). The data were statistically analyzed using the IBM SPSS Statistics software version 28. The results showed that there was a simultaneous and partial significant effect on the variables of perception of maslahah, ease of use and risk on the decision to use QRIS electronic money in the millennial generation in Jakarta, but the perception of word of mouth generally partial effect is not significant.

PERTANGGUNGJAWABAN PIDANA PIHAK KREDITUR YANG MEMPEKERJAKAN DEBTCOLLECTOR DALAM PENYELESAIAN KREDIT MACET

In this study, it will examine the criminal liability of creditors who employ debtcollectors in collecting bad debts. Card-Based Payment Instruments (APMK) regulated in PBI (Bank Indonesia Regulation) Number 14 of 2012, one example of a payment instrument that is often used by the public is the use of Credit Cards. With this payment instrument, it can pose several risks for the community, a problem that often occurs is delays or overdue in paying credit card bills. Until it finally causes credit bottlenecks in payments and also the nominal collection that is increasing due to late fees. The existence of credit congestion can cause other problems for the creditor and the debtor. In general, in the event of a bad debt, the creditor will use the services of a Debtcollector as a third party to collect debts. Debtcollector as a third party charged by the creditor (bank) in collecting debts to the debtor, but the power of attorney that has been given makes the debtcollector do various ways of collecting. There are some debt collection individuals who commit arbitrary acts or unlawful acts in collection. In this study, it uses normative juridical research methods with a statutory approach and a conceptual approach. The results of this study show that the form of criminal liability of creditors who employ debtcollectors can be in the form of imprisonment and/or fines of a certain amount of money for compensation to the aggrieved party. It has not been clearly regulated in the laws and regulations regarding the form of criminal liability of creditors in hiring debtcollectors who commit unlawful acts at the time of debt collection.

Kajian Yuridis Penggunaan Koin Kripto sebagai Alat Pembayaran di Indonesia

The presence of crypto coins as a new thing in society certainly requires an attitude from a legal aspect. The rapid development of crypto coins makes many people believe that crypto coins will become a means of payment in the future. This study aims to determine the regulation of payment instruments in Indonesia and the legal consequences if crypto coins are used as payment instruments in Indonesia. This research is normative legal research, namely research with studies through literature studies based on primary and secondary legal materials. The problem approach used is a statutory approach and a conceptual approach. The results of this study show concretely that crypto coins are illegal means of payment. The use of crypto coins as a means of payment in Indonesia is not in accordance with the law and is an act that is against the law so it can have legal consequences. Crypto coins do not have a legal basis to be used as a means of payment in Indonesia. Payments using crypto coins that are prohibited by law are considered illegal payments so they can get sanctions.

India’s Digital Payment Landscape – An Analysis

Purpose: The Indian payments sector is undergoing far reaching changes, with digital payments capturing a sizable slice of the cake in recent years. The changes began from a fully cash economy to a less-paper-currency system. The Reserve Bank of India and its nodal agencies are working hard to make the digital India goal, a reality. Nearly one billion cards and more than two billion Prepaid Payment Instruments (PPI) such as online wallets, mobile applications, e-wallets, and digital payment modalities have pushed India into one of the world’s fastest growing and largest digital payment ecosystem. In fact, an exponential increase in internet infrastructure boosted e-commerce. Unified Payment Interface, popularly known as UPI, is regarded as a revolutionary payment solution in the market for facilitating retail digital payments. The main objective of this paper is to identify innovations in India’s digital payment landscape in a phased manner. While doing so, it also analyses the payment facilitating industry by applying PESTEL model to identify political, economic, technological, environmental and legal factors. Design/Methodology/Approach: This study examines India's digital payment landscape in terms of its gradual progress. Using the PESTEL model, it also analyses external factors that contribute to a less cash economy. Secondary sources were used to gather data for the study, which included reports, circulars, rules, and statements made by the Reserve Bank of India and other relevant organisations. Findings/Results: According to the study, India's digital payment segment has seen tremendous success since the implementation of UPI by the National Payment Corporation of India (NPCI) in 2016. The government's Direct Benefit Transfer (DBT) programme enabled the country to achieve financial inclusion of all citizens having access to banking services. Government legislation, regulator intent, social behaviour, increased smartphone usage, lower internet costs, and others significantly impacted the growth of the digital payment industry by ensuring secure, faster, cost-effective, and secure payment solutions. Originality/Value: This study examines the digital payment industry in India using the PESTEL methodology, which allows us to see the industry from all sides. Paper Type: Industry Analysis-based Research Case Study.

Non–cash payments in international business between Russia and China

Innovation is the first driver of development. The integration of the payment industry and mobile operations, the Internet, e–commerce, and other industries has created new opportunities for innovation and the development of payment services. Banking financial institutions, being the main part of the payment services market, assume the role of the main provider of non>cash payment services. The integration of non–cash payment instruments and bank management functions continues to deepen, and industry applications are becoming more mature. Through cooperation and exchange between China and Russia, as well as the development of the cultural economy, tourism, trade and other areas, Russia has adopted such Chinese non–cash payment methods as Alipay, WeChat and UnionPay. This has played an active role in improving the diversification of the transaction channels of two peoples, as well as in personalization and simplification of payment instruments, and it is very consistent with the requirements of convenience and efficiency of modern payments.

HUBUNGAN PERTIMBANGAN MANFAAT DAN RISIKO, ALAT PEMBAYARAN, DAN TEMPAT BERBELANJA DENGAN PERILAKU KONSUMEN MENJAGA PROTOKOL KESEHATAN

During the pandemic, consumers are advised to pay attention to health protocols regarding product consumption This study aims to determine the relationship between preferences of evaluating benefit or risk, selection of payment instruments, and places to shop with considerations of health protocols in consumption behavior. To test the hypothesis that payment instruments and places to shop affect the consideration of health protocols in consumer behavior, an online survey was distributed to 1058 participants with age 18-25 years who are currently living in Jakarta, Bogor, Depok, Tangerang, and Bekasi. Responses were analyzed using the Spearman Rank correlatio method. The results showed that the use of cash has a significant relationship with cognitive, affective and behavior dimensions of the health protocol consideration on consumption behavior. However, with the cognitive dimension of health protocol consideration on consumption behavior, the use of cash is negatively correlated. Meanwhile, the choice to shop online has a significant positive correlation with all dimensions of health protocol considerations on consumption behavior. The results indicate that promoting cashless and online consumption are inline with supporting health protocols consideration on consumption behavior.

EU: Prohibition of charges for the use of payment instruments and payment services

EU: Prohibition of charges for the use of payment instruments and payment services

Perspective from E-Service Quality Barriers: Important Factors to Avoid to Increase Actual Usage of Transportation Apps in Indonesia

In the midst of the Covid 19 pandemic in Indonesia, forcing everyone to do everything from home. This has become easier due to rapid advances in technology and information. Recently, developments in technology and information have encouraged the development of payment instruments into e-money. The development of e-money in Indonesia itself can be said to be growing rapidly. It has an impact on the competition in the e-money industry which is getting tougher every year. Therefore, it is important for the e-money industry to continue to increase actual usage, in order to remain competitive in the midst of fierce competition in the e-money industry. In this study, respondents collected were 150 users of Go-Pay in Surabaya according to the characteristics of respondents using snowball technique. Based on data analysis is that from six proposed hypotheses, all hypotheses are supported.

ANALISIS FAKTOR MINAT MASYARAKAT SEMARANG DALAM PENGGUNAAN GOPAY SEBAGAI DIGITAL PAYMENT

This study aims to analyze the interest of the Semarang city’s community in using GOPAY as a digital payment based on the Technology Acceptance Model (TAM). The TAM approach was chosen because TAM is the most widely used model in predicting the acceptance of information technology and has proven to be a very useful theoretical model in helping to understand and explain user behavior in the implementation of using GOPAY as a digital payment. Nowadays, people who used to use cash payment (cash based) have now started to recognize and use non-cash payments (non-cash) in carrying out various payment transaction activities. One of the non-cash payment instruments that is currently developing is electronic money, one of which is GOPAY.
 The sample of this study was 100 people in the city of Semarang. The data analysis technique is multiple linear regression. The results of the research are Perceptions of Benefits, Perceptions of Ease, User Attitudes, and Perceptions of Security that have a positive effect on interest in using GOPAY as a digital payment.

Solutions to Non - cash payment development in Viet Nam

The paper studies the performance of non-cash payment in Vietnam recently in terms of payment channels, payment instruments, infrastructure and organizations involved in providing payment services, payment intermediary services and payment transmission systems. Based on the current situation and the analysis of non-cash payment limitations, the author proposes orientations and some solutions (to the Government and State authorities, to commercial banks, other payment intermediaries, and payment intermediary service providers) in order to develop non-cash payments in Vietnam in the coming time.

The Role Sharia Fintech Support Sustanaible Development Goals Program (SDGs)

Abstract
 Islamic finance products are increasingly varied, including the presence of shariah fintech. The development of sharia fintech has a role in supporting the Sustainable Development Goals (SDGs. This study aims to determine the development of sharia fintech, and to determine the role sharia fintech in supporting the SDGs program. This type of research is literature study with the nature of the research is qualitative. This study uses descriptive qualitative data analysis techniques. The results of this study indicate the development sharia fintech assets in December 2020 amounting to 74,677,072,107, growing to reach 47.53 percent, with the number of sharia fintech lending actors 10. Types of sharia fintech are peer to peer landing (P2P), payment instruments, and crowdfunding. Sharia fintech has a role in supporting the SGDS program on several objectives, especially related to the economy, such as decent work and economic growth, poverty reduction, hunger reduction, and the realization of prosperity.

Pemahaman Masyarakat Muslim Menengah Kebawah Merespon Gerakan Nasional Non Tunai Bank Syariah

The issues discussed in this study are how the practice of transactions using a non-cash payment system and how the understanding of the lower middle class Muslim community regarding the payment system using non-cash in Islamic Banking in the Kekalik Kebon Community, West Pagesangan Village, Mataram, West Nusa Tenggara. The purpose of this study is to find out the practice of transactions using non-cash payment systems and to find out the understanding of the middle and lower Muslim community regarding payment systems using non-cash. In this study, the researcher used a descriptive qualitative approach, one of the methods used was to conduct interviews. The result is that most of the lower middle class Muslim community have known, used, and understood non-cash payment instruments as an alternative to cash. Factors that encourage and motivate people to use non-cash payment instruments include security, convenience, speed, and efficiency factors. However, the public still does not fully understand the non-cash payment system due to the lack of direct information and the lack of direct socialization in the Kekalik Kebon Community, West Pagesangan Village, Mataram, West Nusa Tenggara. This non-cash payment system is very useful for the community in conducting transactions if they are in a different place, because they do not require additional money to meet. The public only knows the term for transacting at ATMs but does not know the term at all about the National Non-Cash Movement. Actually, if people understand more about the National Non-Cash Movement This will make it easier for people to carry out transactions directly in their daily lives.

PENGARUH INTEGRATED MARKETING COMMUNICATIONS (IMC) TERHADAP MINAT TOP UP SALDO PENGGUNA OVO DI MALL OF SERANG

Digital payment instruments are used by the people of Indonesia as a means of payment in buying and selling transactions. Because digital payment instruments are new, companies therefore use this opportunity as a marketing communication tool that can reach broad marketing using Integrated Marketing Communications (IMC), such as Advertising, Sales Promotions, Public Relations, Internet Marketing, Personal Selling and Direct Marketing with the aim to attract shopping interest in the community, so it is easy to understand and interesting for marketing communications. The purpose of this study was to determine the effect of Integrated Marketing Communications (IMC) on the interest of top up the balance of OVO users at the Mall of Serang. This study uses a quantitative research method that explains or illustrates the effect of integrated marketing communications (IMC) on the interest of top-up the balance of OVO users, using McGuire's Information-Processing theory. Sampling in this study using accidental sampling technique. From the results of a simple correlation analysis, it is found that the effect of integrated marketing communications (IMC) on the interest of top up the balance of OVO users is 41.2% and the rest is influenced by other factors. The regression equation Y = 2.065 + 0.551X. The value of t = 8.211 is greater than the value of t table (two-tailed test), namely with α 0.1 and dk = (n-2) 98-2, then t table = 1,290 (interpolation results) then Hi: accepted means that there is a positive influence between integrated marketing communications (IMC) to interest top up OVO user balances.

Retail payment strategies: The approach in Portugal compared with the European Commission and the Eurosystem

In November 2020, the Portuguese Payment Systems Forum issued the Portuguese Retail Payments Strategy | Horizon 2022. The strategy has been formulated to support the implementation of secure, efficient and innovative payment solutions, while promoting broad accessibility to retail payment services. As this paper will discuss, the strategy envisions 42 initiatives for stakeholders in the payments market. These initiatives fall under four pillars: (1) ensuring consumers are better informed about the payment instruments available to them; (2) fostering the benefits of digital transformation; (3) contributing to a regulatory framework that promotes innovation and efficiency; and (4) driving the adoption of safer payment solutions. This paper describes key initiatives under these pillars, and reports on how the strategy is progressing towards its goals.