Non-cash Payment Instruments Research Articles

Analysis of the Impact of Digitalization of the Financial Sector on Inflation in Indonesia Using the Vector Error Correction Model Method

Digitalization of the financial sector through non-cash payment instrument means brings many benefits to the Indonesian economy, but also has consequences behind it. This research aims to determine the effect of non-cash payment instruments consisting of electronic money and card payment on inflation in Indonesia using the Vector Error Correction Model (VECM) method. The results of this research show that shocks in the value of electronic money transactions and card payments have a positive effect on inflation in line with the quantity theory of money. This paper concludes that the digitalization of the financial sector gives impacts on inflation in Indonesia, so the government should prepare appropriate policies to balance the positive effects on economic growth and the negative effects on inflation.

Protection of Electronic Money Saving Customers At the Bank

Currently developing again with the emergence of a new payment instrument in the form of a certain amount of money stored in an electronic media owned by someone, this payment instrument is known as Electronic Money. As a means of payment, the acquisition and use of Electronic Money (e-money) can be considered quite easy. Prospective holders or users only need to deposit a certain amount of money to the issuer or through issuing agents and the total value of the money will be digitally stored in electronic media. The problems raised in this paper are regarding the characteristics and status of electronic money as a non-cash payment instrument in banking products and the urgency of legal protection against stored customer electronic money. This type of thesis research uses normative juridical research. The results of this study are that electronic money is essentially cash that is converted into electronic data that is stored on storage media on cards in the form of chips or servers belonging to electronic money holders. The value of the electronic money is also recorded on electronic media managed by the issuer of electronic money. Payment transactions with electronic money are carried out by transferring funds electronically at merchant payment terminals (merchant), by directly reducing the value of electronic money on electronic media managed by electronic money holders. The status of the value of money received by the electronic money issuer, both for the results of the electronic money issuance and refilling, is a float fund, which is the obligation of the electronic money issuer to electronic money holders and traders at the time of billing reconciliation by the merchant to the electronic money issuer and the urgency of guaranteeing funds Customers using electronic money by customer fund guarantee institutions (LPS) have not yet reached the point where they really need them. Because currently existing regulations regarding electronic money, both those regulated by Bank Indonesia Regulations and Financial Services Authority Regulations are still able to protect the rights of customers who use electronic money, but it is possible that in the future IDIC will guarantee the funds of electronic money customers. Considering the very rapid development of electronic money users and the very large circulation of money, then of course LPS can be present as a guarantee institution, of course with updated regulations. And at this time LPS is also reviewing with OJK about the need for LPS to be present as a guarantor of electronic money customer funds.

Pengaruh Alat Pembayaran Non Tunai Terhadap Permintaan Uang Kartal Di Indonesia

The aim of the research is to evaluate the effect of using non-cash payment instruments on the demand for currency in Indonesia. Time series data is used in the time period 2009 to 2023 with monthly observations. The analysis approach uses the Error Correction Model (ECM) to assess the correlation between variables in the short and long term. The estimation results confirm that the use of ATM/debit cards has a positive and significant impact on the need for currency, both in the short and long term. In contrast, credit card use shows a negative and significant impact on the need for currency in both time periods. Meanwhile, the use of e-money does not have an impact in the short term, but has a positive impact in the long term on the need for paper money in Indonesia. Therefore, this research suggests that Bank Indonesia should encourage more use of electronic payment tools to encourage people to reduce the use of currency, and promote the concept of a society that uses less cash (less cash society).

ANALISIS PENGARUH INSTRUMEN PEMBAYARAN NON-TUNAI (APMK DAN UANG ELEKTRONIK) TERHADAP MONEY MULTIPLIER

The increasing use of non-cash payment instruments in Indonesia, such as Card Payment Instrument (APMK) and electronic money, shows public awareness and confidence in switching from cash. This has an impact on the money multiplier. The money multiplier plays an important role in the formation of money supply and monetary control. The stability of the money multiplier can provide greater opportunities for Bank Indonesia to implement policies effectively in influencing the supply of money in circulation so the ultimate goal of monetary aggregates can be achieved and a conducive atmosphere for the economy is created. This research aims to determine the influence of ATM+Debit card, credit card and electronic money variables on the money multiplier in Indonesia. In connection with this, the author uses the Error Correction Model (ECM) as an analysis method in this research. The research results show that the Card Payment Instrument (APMK) variable through the nominal transactions of ATM+Debit card and credit card and the nominal transactions of electronic money have significant positive effect on the value of the money multiplier in Indonesia in both the short and long term. It means when the nominal variable for ATM+Debit card, credit card, and electronic money transactions increases, the value of the money multiplier will also increase and vice versa. The increasing use of non-cash payment instruments in Indonesia, such as Card Payment Instrument (APMK) and electronic money, shows public awareness and confidence in switching from cash. This has an impact on the money multiplier. The money multiplier plays an important role in the formation of money supply and monetary control. The stability of the money multiplier can provide greater opportunities for Bank Indonesia to implement policies effectively in influencing the supply of money in circulation so the ultimate goal of monetary aggregates can be achieved and a conducive atmosphere for the economy is created. This research aims to determine the influence of ATM+Debit card, credit card and electronic money variables on the money multiplier in Indonesia. In connection with this, the author uses the Error Correction Model (ECM) as an analysis method in this research. The research results show that the Card Payment Instrument (APMK) variable through the nominal transactions of ATM+Debit card and credit card and the nominal transactions of electronic money have significant positive effect on the value of the money multiplier in Indonesia in both the short and long term. It means when the nominal variable for ATM+Debit card, credit card, and electronic money transactions increases, the value of the money multiplier will also increase and vice versa.

Analysis of The Influence Of Perceive of Benefit, Digital Security, and Perceived Ease of Use on Intention To Purchase Using the Digital Wallet Application

This research aims to determine how the convenience, security, benefits, and rewards of e-wallets influence consumer buying interest. This type of research is descriptive with a quantitative approach. The population in this research is all people who use e-wallets. The sampling technique employed in this study is the accidental sample method. The number of samples in this research was 100. Researchers obtained primary data from this research through interviews and questionnaire results. This research analysis uses several hypothesis tests using Partial Least Squares (PLS). Based on the research results, four dominant aspects have the potential to influence consumer purchasing interest in e-wallets. The ease of use of e-wallets, which enable transactions for various needs with just one application on a smartphone, increases consumer buying interest because it eliminates the need to carry cash, credit cards, or debit cards physically. Although the security factor is a priority, the security offered by e-wallets with security codes or pins does not yet significantly influence consumer buying interest. Financial benefits such as discounts or cashback offered by e-wallets are not the main factors influencing consumer buying interest because other factors, such as payment capacity and the amount of discounts from other non-cash payment instruments, are more significant. Rewards such as discounts and promos provided by e-wallets also do not significantly increase consumer buying interest because they are considered less critical than rewards from other non-cash payment tools.

STATUS HUKUM TRANSAKSI GO-PAY PERSPEKTIF ISLAM

E-money (electronic money) is present as an alternative non-cash payment instrument, especially for micro payments to retail. The emergence of e-money in Indonesia was motivated by the Bank Indonesia Regulation Number 11/12 / PBI / 2009 as one of the supporters of the Bank Indonesia agenda to create a less cash society in Indonesia. E-money itself aims to make it easier for humans to carry out all kinds of economic transactions in their lives, especially for micro payments.
 One electronic money that has obtained a license (permit) from Bank Indonesia is the Go-Pay owned by the company PT Dompet Karya Anak Bangsa. The Bank Indonesia permit was submitted on September 29, 2014. Go-Pay is the result of the development of payment technology, namely electronic money virtual where Go-Pay is not in the form of card pay but in the form of a Go-Jek account. Go-Pay is believed to be a form of payment that makes it easier for the customer to pay for various transactions in the Go-Jek application, because with this mechanism the customer does not need to provide cash and pay in cash. Even customers can easily refill balance or top-up balance to a Go-Pay account.
 One of the discussions in the community regarding transactions using Go-Pay is a discount. Some scholars say that the discount is an additional benefit called usury, while others say the added benefit of discounting is not a form of usury.Based on the background that has been stated, the formulation of the problem in this study is how the legal status of Go-Pay transactions in the Islamic perspective is associated with the existence of additional benefits?
 To answer this problem, library research with a normative qualitative approach is conducted and processing techniques and data analysis use qualitative methods.
 The results of this study are that the contract that occurs between the issuer and the Go-Pay user when the user performs top-up is the contract wadi'ah (deposit) or qardh contract (accounts payable). The discount in transactions using Go-Pay does not include usury, because the discount is not given by Go-Pay as a publisher but by Go-Jek as the owner of the application where Go-Pay and Go-Jek are two different entities.

ANALISIS DAMPAK DIGITALISASI SISTEM KEUANGAN INDONESIA TERHADAP PERMINTAAN UANG KARTAL

The growth of technology that has an impact on the financial world causes people's responses to change so, research about the effect of digitization of the Indonesian financial system on the demand for cash with a research period from 2018 to 2022 using the Autoregressive Distributed Lag (ARDL) method by secondary data is carried out. The results showed that in the short term, the previous period of cash, credit cards, electronic money in 2022 and 2020 also inflation negatively affected the demand for cash. While in the long run, only the transaction value of ATM/Debit cards and credit cards have a negative effect on changes in Y. Increased use of non-cash payment instruments that are able to reduce the composition of cash for daily transactions must be accompanied by improved payment system policies, the legalization of digital rupiah and support for improving public financial literacy.

Analisis Efektivitas Penggunaan Quick Response Code Indonesian Standard (QRIS) sebagai Alat Pembayaran Non Tunai pada Bank Syariah Indonesia KCP Godean 2

Sulistiani Arianti Putri, Dhidhin Noer Ady Rahmanto Universitas Alma Ata Yogyakarta 192100137@almaata.ac.id ABSTRACT The purpose of this study was conducted to find out and examine how effective the use of the Quick Response Code Indonesian Standard (QRIS) feature at Bank Syariah Indonesia KCP Godean 2 is to use it as a non-cash payment instrument. This type of research is included in field research, which means explaining and describing conditions and phenomena more clearly related to the situation that occurs, therefore the type of research used is a type of qualitative research through interviews and documentation. The subjects in this study were Branch Managers, Consumer Branch Relations Managers, Funding and Transaction Staff, Customer Service and customers who use QRIS BSI KCP Godean 2. The results of this study indicate that the effectiveness of using QRIS as a non-cash payment tool has been running effectively, this is evidenced with the fulfillment of 3 aspects of effectiveness (source approach, process approach and target approach). Meanwhile, the performance effectiveness of Islamic banks in implementing QRIS shows the fulfillment of two of the three approaches, namely the source approach and the process approach. For one other measure of effectiveness, it is considered that it cannot be fulfilled, namely the target approach because it cannot achieve the results or outputs that have been previously set. The cause of BSI KCP Godean 2 not achieving results or output was the lack of availability of Human Resources (HR). Even so, statements from customers regarding service quality are quite good and satisfying. Keywords: Effectiveness, Usage, Performance, Standard Indonesian Quick Response Code

Analysis of the Impact of APMK & UE as a Non-Cash Payment Instrument on Indonesia’s Economic Growth

Rapid technological developments encourage payment systems to be more effective and efficient for the community. At this time the payment system has developed into a non-cash basis. The non-cash Payment System consists of Card-Based Payment Instruments, namely ATM/Debit Cards and Credit Cards, as well as Electronic Money (E-money). The purpose of this research is to find out whether the non-cash payment system affects economic growth in Indonesia. This research uses quantitative methods and secondary data obtained from Bank Indonesia and the Central Statistics Agency (BPS) for the 2009-2021 period. The analytical method used is multiple linear regression analysis using SPSS version 27. The results show that simultaneously transaction values for Debit Cards, Credit Cards and Electronic Money affect economic growth in Indonesia. Meanwhile, partially, the transaction value of Debit Cards and Credit Cards has a significant influence on economic growth. However, the value of Electronic Money transactions does not affect economic growth.

Pengaruh Panic Buying, Kemudahan Cashless terhadap Perilaku Konsumtif pada Keluarga Muslim di Kota Medan


 
 Currently, non-cash payment instruments are increasingly in demand because they make it easier for the public to make them more effective and efficient than using conventional payment instruments. Cashless society is a financial transaction by means of electronic payments in economic activities as a substitute for cash payments. A cashless society has the same goal in carrying out financial transactions using debit, credit or electronic methods that can be accessed via gadgets to make it easier for consumers. We can also feel the development of technology that continues to advance to facilitate people's lives in terms of transactions. This research uses quantitative methods. The results show that variable X, namely panic buying and cashless payments, has a significant effect on variable Y, namely the level of consumption.
 Keywords: panic buying, cashless payment, consumptive behaviour

Analisis Faktor – Faktor yang Mempengaruhi Minat Penggunaan Uang Elektronik (LinkAja)

Payment systems have been evolving along with technological developments, from the barter system in ancient times to today’s non-cash payment instruments. Electronic money is the newest non-cash payment instrument. The purpose of this paper is to explore the factors that influence postgraduate students’ intention to use LinkAja Application. This research was done in Padang, West Sumatra. A questionnaire was developed from the 160 postgraduate students from three universities in Padang who have LinkAja accounts yet or experience before. The model used here had been developed from the Technology Acceptance Model integrated with the perceived risk theory, five specific risk–performances, financial, security/privacy, social, and time risk was tested on a sample of postgraduate students to explain postgraduate student’s behavioral intention to use LinkAja. A quantitative research method was employed utilizing the survey method. Data were analyzed using the Structural Equation Model technique. The results reveal that perceived usefulness and perceived ease of use consistently have significant and positive impacts on behavioral intention to use LinkAja. However, perceived risk has no significant impact on behavioral intention to use LinkAja. This study confirmed the TAM model is important factor for predicting postgraduate students’ behavioral intention to use LinkAja in Padang Universities.

CUSTOMER PERCEPTION; E-WALLET USED AS A NON-CASH PAYMENT TOOL

This study aims to determine customer perceptions of Haus! Siwalankerto regarding the use of e-wallets as non-cash payments. The method used in this study is a qualitative method with excavation techniques through interviews. Retrieval of data in this study using informants as many as seven customers. This research provides valuable insights for stakeholders, including e-wallet companies, merchants, and local governments, in increasing e-wallet adoption in Haus! Siwalankerto. The indicators used to see perceptions are perceptions of convenience, usability and risk. This research shows that: First, Perceived Convenience, most customers agree that e-wallets provide many conveniences; Second, Perceived Usefulness shows that the majority of customers agree that during payment transactions they use e-wallets; Third, Risk Perception shows that a small proportion agree that e-wallet payments are very low risk. Research show, it can be seen from the large number of customer interests, it shows that almost all use e-wallet payments as a non-cash payment instrument. Then the use of e-wallets on Haus! Siwalanketo is influenced by these three perceptions.

PERAN FINTECH, INKLUSI KEUANGAN DAN LITERASI KEUANGAN TERHADAP KINERJA DALAM KESIAPAN DUKUNG CASHLESS SOCIETY SEKTOR USAHA MIKRO KECIL MENENGAH KABUPATEN BEKASI

ABSTRACT - Less cash society is a term used by Bank Indonesia in relation to a non-cash society, where groups of people are used to using non-cash payment instruments, especially in economic activities. Cash payments which were the main means of transaction have now been shifted to non-cash payments based on cards, electronic and paper. With the change in the non-cash payment system, it brought several conveniences to the community and this was able to encourage Bank Indonesia to create a less cash society. This research aims to analyze the role of fintech on MSMEs in Bekasi Regency, analyze the impact of financial inclusion on MSMEs in Bekasi Regency and analyze the effect of financial literacy on MSMEs in Bekasi Regency. The research method in this study uses a quantitative approach. With the sampling technique using dsample used using non-probability sampling techniques. The population in this research were SMEs in Bekasi Regency, with a total sample of 100 SMEs in Bekasi Regency. Analysis using SPSS version 23.0. With the results of the study, namely that there is no impact of fintech on MSME performance, there is a significant influence between financial inclusion on financial performance and there is an impact of financial literacy on MSME performance.

Analisis Efektivitas Penggunaan Quick Response Code Indonesian Standard (QRIS) sebagai Alat Pembayaran Non Tunai pada Bank Syariah Indonesia KCP Godean 2

The purpose of this study was conducted to find out and examine how effective the use of the Quick Response Code Indonesian Standard (QRIS) feature at Bank Syariah Indonesia KCP Godean 2 is to use it as a non-cash payment instrument. This type of research is included in field research, which means explaining and describing conditions and phenomena more clearly related to the situation that occurs, therefore the type of research used is a type of qualitative research through interviews and documentation. The subjects in this study were Branch Managers, Consumer Branch Relations Managers, Funding and Transaction Staff, Customer Service and customers who use QRIS BSI KCP Godean 2. The results of this study indicate that the effectiveness of using QRIS as a non-cash payment tool has been running effectively, this is evidenced with the fulfillment of 3 aspects of effectiveness (source approach, process approach and target approach). Meanwhile, the performance effectiveness of Islamic banks in implementing QRIS shows the fulfillment of two of the three approaches, namely the source approach and the process approach. For one other measure of effectiveness, it is considered that it cannot be fulfilled, namely the target approach because it cannot achieve the results or outputs that have been previously set. The cause of BSI KCP Godean 2 not achieving results or output was the lack of availability of Human Resources (HR). Even so, statements from customers regarding service quality are quite good and satisfying.
 Keywords: Effectiveness, Usage, Performance, Standard Indonesian Quick Response Code

Efektivitas Quick Response Code Indonesian Standard (QRIS) Dipasar Atas Kota Bukittinggi Ditinjau Dari Ekonomi Islam

QRIS is a non-cash payment instrument in the form of a QR code developed by Bank Indonesia and the Indonesian Payment Association. With the existence of QRIS, Bank Indonesia hopes to facilitate public transactions and not be left behind by technology. As a Muslim community, especially in Pasar Atas, Bukittinggi, we must understand how the law uses QRIS. because everything we do must be based and not deviate from the teachings of Islam. The aim of this research is to find out how the effectiveness of using the Quick Response Code Indonesian Standard (QRIS) in buying and selling transactions at Pasar Atas Kota Bukittinggi is viewed from an Islamic economic perspective. This type of research is a qualitative descriptive method by collecting data through interviews with traders and buyers who shop at Pasar Atas Kota Bukittinggi. The results of this study indicate that QRIS users receive many benefits, such as facilitating transactions, not having difficulty finding small money, reducing the spread of counterfeit money, not reducing the value of money and there are still many benefits received by QRIS users. Therefore it can be said that QRIS is more effective.

Konsep dan Teori Permintaan Uang dalam Perspektif Islam

The demand for money is closely related to the purchasing power of the people in a country. The purchasing power of money in a country is influenced by inflation, when there is an increase in inflation, then with it there will be a decrease in the purchasing power of the money, while when there is a decrease in inflation, the opposite will happen, namely the occurrence of greed for the purchasing power of money. The demand for money, in addition to being influenced by inflation, is also influenced by non-cash payment instruments, which are increasingly diverse in type, making a negative effect on the demand for money, because transactions with non-cash have resulted in a lack of demand for money. A lot of the money that is scattered is already available.

Dampak Sistem Pembayaran Non Tunai terhadap JUB (M1) di Indonesia 2019-2021

The aim of this study is to evaluate the impact of non-cash payment instruments such as debit cards, e-money, and credit cards on Money Supply (M1). The research employs multiple linear regression analysis and e-views 9 data analysis tools. The results of this study indicate that debit cards have a positive and significant impact on the Money Supply (M1). In contrast, credit cards negatively and significantly impact the Money Supply (M1). On the other hand, e-money also has a positive and significant impact on the Money Supply (M1). Therefore, the conclusion drawn is that all independent variables in this study have a substantial impact on the Money Supply (M1).

Analysis of the Use of Non-Cash Payment Instruments in Realizing A Less Cash Society in the Environment

The purpose of this study is to determine the partial and simultaneous influence between promotional attractiveness, product knowledge, benefit perception and income level with the use of non-cash payment instruments, and also to determine the effect of using non-cash payment instruments in realizing a less cash society. The population is all lecturers in PTKIN and PTKIS Riau Province totaling 954 with samples calculated based on the formula of Issac & Michael resulting in a sample of 211 respondents. The sampling method uses Cluster Proportional Random Methode. And the data is analyzed with Analysis Path. The results showed that partially or simultaneously the variables of promotional attractiveness (X1), product knowledge (X2), benefit perception (X3), and income level (X4) had a positive and significant effect on the use of non-cash payment instruments (Y) with the contribution of independent variables to the dependent variable of 73.37%, and the remaining 26.63% influenced by other variables. While the variable use of non-cash payment instruments (Y) has a positive and significant effect on the variable less cash society, with a contribution value of 47.61% while the remaining 52.4% is influenced by other factors outside this study.

Analisis Pengaruh Transaksi Non Tunai Terhadap Peredaran Uang Tunai di Indonesia

This study aims to determine the effect of non-cash payment instruments on cash circulation, analyze variables that affect the decline in cash use in Indonesia such as ATM/debit, credit cards, e-money and mobile banking. This study uses secondary data in the form of time series and the model used in this study is the ECM approach to determine the correlation between ATM/debit cards, credit cards, e-money and digital banking on cash circulation. The results showed that ATM/debit cards have a significant positive effect on cash circulation in the long and short term. In the long and short term credit cards have a significant negative effect on cash circulation. In the long and short term, electronic money has a significant negative effect on cash circulation. Mobile Banking has an insignificant negative effect on cash circulation in the long and short term. Based on the results of statistical tests, the variables of ATM/debit cards, credit cards, e-money, and mobile banking simultaneously affect the circulation of cash in Indonesia.

ANALISIS FAKTOR MINAT MASYARAKAT SEMARANG DALAM PENGGUNAAN GOPAY SEBAGAI DIGITAL PAYMENT TECHNOLOGY ACCEPTANCE MODEL

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.