Payment Transactions Research Articles

Digitalization of Madrasah Financial System in Managing Financial Transparency and Accountability

This article aims to analyze the application of financial system digitization at MAN Kota Mojokerto in managing the transparency and accountability of madrasah financial management, in an effort to simplify and speed up the payment transaction process, MAN Kota Mojokerto uses the Infra digital application which allows payment of SPP, infaq, books, and other fees to be made online. Through this system, it is expected to reduce the potential for recording errors, improve operational efficiency, and ensure more transparent and accountable financial management. This article uses a descriptive qualitative method with data collection through observation, interviews, and documentation. The results show that the use of the Infra digital application makes it easier for parents to make payments, and makes it easier for the committee treasurer to monitor and report financial transactions. The implementation of digitalization has also proven effective in improving accountability, as every transaction is neatly recorded and can be accessed easily by related parties. In conclusion, the implementation of financial system digitization at MAN Kota Mojokerto has contributed greatly to realizing more transparent and accountable financial management, which has a positive impact on the quality of education management in the madrasah.

Renewable energy in chemical industrial buildings for cost performance

Due to their potential benefits for a variety of industries, blockchain technologies have recently attracted a lot of attention from the scientific community as well as the business community. Blockchain provides distributed, secure, permissioned transactional ledgers, that successfully deal with these problems. The purpose of this study is to present a new conceptual framework that combines blockchain technology with building information modeling. This framework is specifically designed for smart contracts and digital transactions in the chemical industry's retrofitting of green buildings. Within this particular context, the main goals are to improve cost-effectiveness, bolster cybersecurity measures, improve information sharing and management, expedite payment transactions, and advance sustainability. In Cilegon, Banten, Indonesia, a chemical facility was the study's location. The study also makes use of partial least squares structural equation modeling.

EFFECTIVENESS OF THE REGULATORY ENFORCEMENT FOR AML IN UKRAINE: IS IT ALL QUIET ON THE FINANCIAL FRONT?

The relevance of studying the effectiveness of the existing financial monitoring system, particularly the adequacy of its regulatory framework, is driven by the intensification of processes related to the legalization of criminal proceeds involving financial institutions. This includes the entrenchment of shadow schemes in payment transactions, expansion of money laundering channels, and terrorism financing. Regulatory gaps have also emerged in overseeing the cryptocurrency market and digital financial services. This study aims to systematize the legal and regulatory framework and evaluate the effectiveness of the financial monitoring system, outlining prospects for further research. The research methodology involves balanced summarization, specification, systematization, generalization, and statistical analysis. Macroeconomic prerequisites for enhancing financial monitoring include socio-economic, political, and moral-ethical factors. The study notes that the effectiveness of anti-money laundering and counter-terrorist financing efforts is not always clear-cut, such as the unclear relationship between the intensity of measures and their effectiveness in preventing regulatory violations and the lack of accurate information about potential offences before disclosure. An objective understanding of financial monitoring effectiveness can be achieved through integral assessments. A methodology for calculating an integral indicator of effectiveness is proposed, which identifies weaknesses in the existing system. The need for new measures to strengthen the coordination of the financial monitoring system, especially under martial law, is emphasized. Based on the research results, recommendations for improving the effectiveness of the financial monitoring mechanism are formulated, including the introduction of artificial intelligence technologies for identifying financial transactions; the use of machine learning technologies; enhancement of monitoring in the cryptocurrency market; strengthening the oversight of transactions related to international terrorism; and developing an effective mechanism to combat financial crimes. These proposals may be useful for financial monitoring and economic security agencies in Ukraine.

Sinergi Pemanfaatan Big Data dengan Sharing Data Privacy Pengguna: Efek Menawarkan Kompensasi dalam Meyakinkan Pengguna E-Wallet

The development of digital payment transactions through the adoption of e-wallets has a significant impact on the utilization of big data by companies and user data security systems. The purpose of this study is to ascertain how providing users with financial incentives and control over data use will enhance their willingness to divulge personal information to businesses. Additionally, assessing the variables that may affect a person's willingness to divulge personal information. 130 members of Generation Z in Surabaya who have utilized ShopeePay provided the data for this study. To evaluate the suggested hypotheses and examine the correlations between variables, the data were analyzed using SEM-PLS modeling with Smart-PLS 3 software. According to the study's findings, providing financial incentives and control over data use as compensation can make people more ready to divulge personal information. However, perceived data sensitivity does not reduce the willingness to share personal information. The mediation relationship was identified, where perceived data sensitivity did not mediate control compensation. This shows that providing compensation in the form of control compensation and monetary compensation has a major influence in motivating individual preferences for sharing user personal data.

Pendampingan Pembuatan Aplikasi Sistem Pembayaran Digital (Qris) Pada Umkm Toko Kelontong

Community service activities aim to increase understanding and knowledge about digital or non-cash payment systems. This service was carried out at the MSMEs of the "Bu Yani" Grocery Store located in Karanglo, Argomulyo, Sedayu District, Bantul Regency and the MSMEs of the "Bu Ratmi" Grocery Store located in Balong, Kaligintung, Temon District, Kulon Progo Regency. The stages used in service activities are 1. Observation, 2. Presentation, 3. Training and Mentoring, 4. Evaluation. The result of this service activity is that MSME actors already understand QRIS and its benefits as an effective means of payment transactions, and the two grocery store MSMEs already have a new payment instrument with non-cash payments.

PENGARUH KEBIJAKAN BIAYA MERCHANT DISCOUNT RATE QRIS TERHADAP OMZET DI KANTIN

Financial Technology (Fintech) has changed the way business actors access financial services, manage finances, and interact with potential buyers. The presence of the Quick Response Code Indonesian Standard (QRIS) makes it easy to carry out non-cash payment transactions. However, unfortunately, using QRIS costs a Merchant Discount Rate (MDR) with the policy set by Bank Indonesia regarding MDR fees of 0.3% for every transaction > IDR 100,000 with QRIS payments as a payment channel for micro businesses. Micro business actors in the Brawijaya University Malang canteen must be prepared to face adjustments to the amount of MDR fees in the QRIS payment system. This researcher aims to determine the effect of MDR costs on turnover in the Brawijaya University Malang canteen. This research is quantitative research using simple linear regression analysis techniques for cross section data with a sample of 50 canteens at Brawijaya University, Malang. This research resulted in the conclusion that QRIS Merchant Discount Rate fees have no influence on turnover in the Brawijaya University Malang canteen. Keywords: Financial Technology, Merchant Discount Rate, Quick Response Code Indonesian Standard, Micro Business

A Temporal Graph Network Algorithm for Detecting Fraudulent Transactions on Online Payment Platforms

A temporal graph network (TGN) algorithm is introduced to identify fraudulent activities within a digital platform. The central premise is that digital transactions can be modeled via a graph network where various entities interact. The data used to build an event-based temporal graph (ETG) were sourced from an online payment platform and include details such as users, cards, devices, bank accounts, and features related to all these entities. Based on these data, seven distinct graphs were created; the first three represent individual interaction events (card registration, device registration, and bank account registration), while the remaining four are combinations of these graphs (card–device, card–bank account, device–bank account, and card–device–bank account registration). This approach was adopted to determine if the graph’s structure influenced the detection of fraudulent transactions. The results demonstrate that integrating more interaction events into the graph enhances the metrics, meaning graphs containing more interaction events yield superior fraud detection results than those based on individual events. In addition, the data used in this work correspond to Latin American payment transactions, which is relevant in the context of fraud detection since this region has the highest fraud rate in the world, yet few studies have focused on this issue.

Solution for Public Smart Dispenser Using Digital Payment Based on the Fingerprint Minutiae Algorithm

Technological advancements have significantly focused on secure and efficient digital payments. In the context of Public Smart Dispensers (PSDs), using authentication and verification in payment transactions is crucial to address security concerns, enhance transaction efficiency, and provide a better user experience. This study employs minutiae algorithms for the fingerprint identification and verification process. Fingerprint identification utilizes the crossing number method, while fingerprint verification uses a validation score. If the validation score exceeds the threshold of >80, fingerprint verification is considered successful; conversely, verification is deemed unsuccessful if the validation score is <80. Through testing, biometrics as a payment method was conducted 100 times, resulting in an accuracy rate of 94% with an identification response time of approximately two or three seconds. The research findings demonstrate the practicality of implementing fingerprint biometric payment methods with minutiae algorithms on Public Smart Dispenser payment systems in the field of digital payments and technology. This enables fast and efficient transactions, significantly reducing the risk of fund misuse. Consequently, users can easily access water through Public Smart Dispensers, underscoring the real-world applicability and relevance of this solution. Implementing this technology can enhance user comfort and security while expediting the transaction process, which is crucial for public use. Therefore, this research makes a significant contribution to the advancement of fingerprint-based payment technology on public smart dispensers.

Near-Field Communication (NFC) Cyber Threats and Mitigation Solutions in Payment Transactions: A Review.

Today, many businesses use near-field communications (NFC) payment solutions, which allow them to receive payments from customers quickly and smoothly. However, this technology comes with cyber security risks which must be analyzed and mitigated. This study explores the cyber risks associated with NFC transactions and examines strategies for mitigating these risks, focusing on payment devices. This paper provides an overview of NFC technology, related security vulnerabilities, privacy concerns, and fraudulent activities. It then investigates payment devices such as smartphones, contactless cards, and wearables, highlighting their features and vulnerabilities. The study also examines encryption, authentication, tokenization, biometric authentication, and fraud detection methods as risk mitigation strategies. The paper synthesizes theoretical frameworks to provide insights into NFC transaction security and offers stakeholder recommendations.

Literature Review: Analysis of QRIS Implementation as a Digital Payment Tool for MSMEs

Technological developments have penetrated the payment transaction sector. In particular, contactless payment methods have experienced very rapid development. The public has been introduced to a cashless society. In response to this development, Bank Indonesia issued a regulation on the implementation of one QR code that can be used in various payment applications called the Quick Response Indonesian Standard (QRIS). This article is a literature study that describes the implementation of QRIS as a digital payment tool for MSMEs in Indonesia. Through the analysis of relevant documents and literature, the findings of the article show that the implementation of QRIS provides many benefits, such as ease of transactions and transaction recording, practicality and safety from the circulation of counterfeit money. However, there are still several obstacles in its implementation. Therefore, it is hoped that the QRIS program will continue to innovate and optimize services to achieve inclusive and sustainable economic growth.

Analysis of The Influence of The Value of Non-Cash Payment Transactions on The Amount of Money Supply in Indonesia

This literature explains the influence of credit card, debit card, and e-money transaction values on Indonesia’s M1 and M2 money supplies. Time series data from January 2010 to August 2023 are used taken from the official websites of Bank Indonesia and the Central Statistics Agency . The Vector Error Correction Model (VECM) is the analysis method employed. According to the study’s findings, the M1 and M2 money supply is significantly impacted by the value of debit card transactions in both the short and long term. While it has a large short-term impact on M1 and M2, the credit card transaction value variable has a negligible long-term impact on M2. In addition, the value of e-money transactions demonstrates that they have a large impact on M1 both in the short and long terms. On the other hand, it has a significant impact on M2 in the short term but not on M2 in the long run.

An ESG-Compliant Framework for Fraud Detection in Online Payments Using Data Privacy and Machine Learning

Purpose: The purpose of this paper is to analyze the role of machine learning (ML) in fraudulent online payment transaction detection across industries, with a specific focus on integrating Environmental, Social, and Governance (ESG) principles to bring sustainability and ethics in fraud detection. Methodology: This study reviews the effectiveness of machine learning (ML) techniques in real-time fraud detection, presenting the efficiency of different ML techniques across industries and how those techniques can be modified to apply the principles of ESG. It checks on ethical practices concerning data, compliance with data privacy, and sustainable management, further investigating how effectively ML-driven frameworks can support fraud detection without compromising the standards of ESG. Findings: The study finds that integrating ESG principles within machine learning frameworks for fraud detection enhances both the effectiveness and ethical alignment of these systems. ML models not only support real-time fraud detection but also reinforce sustainable data management and governance practices, providing businesses with an advanced approach to mitigating cyber risks while upholding ESG commitments. Unique Contribution to Theory, Practice, and Policy: This paper contributes by advancing ESG-integrated frameworks for fraud detection, offering a sustainable and ethical model for using ML in financial systems. In practice, it provides actionable insights for industries seeking to align fraud prevention with ESG goals. The paper also suggests policy considerations, advocating for stronger ethical standards and data governance in ML applications for fraud detection.

The Essence of Commercial Bank, principles and functions

The paper describes the relevance of the topic, sets the goal and objectives, specifies the theoretical and methodological foundations, specifies that the banking system guides the country's payments and settlements system, defines the essence, principles and functions of a commercial bank. The banking system is a wide range of diverse services, starting from traditional savings-loan and settlement-cash operations, ending with modern monetary credit and financial instruments. The bank is an intermediary link that attracts the temporarily free resources of economic subjects and supplies them to those subjects of the economy who experience a temporary shortage of these resources. The bank assumes the risk of non-return of resources. The effective operation of the payment system in any country requires the improvement of settlement operations and their technologies. Banks are the centers through which the majority of settlement and payment transactions are carried out. Settlements and payments of an individual or a legal entity, as well as of the entire economy, are carried out through banks. The theoretical and methodological basis of the work is - the researches of Georgian and foreign scientists on the regulation of the banking sector, the analytical works of various authors, the information-statistical and analytical materials of the National Bank of Georgia. Key words: Banking system, active bank transactions, passive operations.

SOCIALIZATION AND TRAINING ON THE USE OF QUICK RESPONSE CODE INDONESIAN STANDARD (QRIS) FOR DIGITAL PAYMENTS IN UMKM HUTAN BAMBU BEKASI

The use of digital transactions for non-cash payments can support MSME businesses to survive and develop in the era of internet technology. One of them is Bank Indonesia (BI) encouraging UMKM players such as those in tourist attractions to carry out digital payment transactions using the Quick Response Code Indonesian Standard (QRIS) as a more efficient non-cash payment system. This research aims to support the quality development of MSME businesses which needs to be carried out in training on the use of QRIS as a more efficient non-cash payment system. Socialization and training activities on the use of QRIS show that UMKM Hutan Bambu Bekasi business actors in the Bekasi UMKM Hutan Bambu Bekasi have not yet implemented a digital payment system because the tourist attraction is still relatively new and the UMKM are just starting out, apart from the tourist location being in the village. This makes this activity very useful for increasing productivity for UMKM Hutan Bambu Bekasi

The Impact of Perceived Ease, Usefulness, and Risk on Decisions to Use Brimo QRIS (Case Study in Central Java and Implications for Management)

Digital payment transactions and the widespread use of electronic devices are hallmarks of the cashless society that is emerging in tandem with the Fourth Industrial change and the change in financial technology. This study aims to examine how people in Central Java perceive the ease, benefits, and hazards of using QRIS, and how these factors influence their decision-making process. This study used a casual associative design and was quantitative in nature. This study used purposive sampling, which selects a population subset according to norms. One hundred people participated in this study. This study included multiple linear regression, hypothesis testing, classical assumption testing, and instrument testing. With a simultaneous test value of 70.201 and a Ftable value of 2.70, along with partial test values of the three variables exceeding the t table value of 1.986, this study concludes that perceptions of convenience, benefits, and risk significantly impact the decision to use BRImo QRIS in Central Java.

Sistem Informasi Pengelolaan Lapangan Bulu Tangkis “Wirda Buana” Berbasis Java Netbean

This study aims to design a management system on the Wirda Buana badminton court into an applied system in order to simplify the process of recording field rentals. The main problem in this research is the management process which is currently still manual. The rental process is carried out by recording the file of prospective tenants in a book, making it difficult for officers to copy the file of renting customers. Payment transaction that are only recorded in the book result in frequent miscalculations and make the reporting not on time. The file of this study were obtained from the results of observations and interviews. In the process consists of planning, analysis, design and implementation of the system. The results of this study are an information system for badminton court management based on java netbeans with this information system, it is expected to make it easier for admins to manage field rental data as well as owners in monitoring the course of field rental activities.

Implementation of Digital Payment in Mitigation of Fraud Risk at Hotel Conrad Bali

This study aims to be a fraud risk mitigation strategy in managing payment transactions. This study is a qualitative study. Data collection by interviews, documentation studies, and observations. Data analysis techniques used in this study are data reduction, data presentation, and drawing conclusions. The results of this study indicate that digital payments in payment transactions at Conrad Bali use internet banking. Conrad Bali conducts a longitudinal risk evaluation to identify fraud and applies a clear separation of duties. Conduct routine audits of security systems and internal controls to ensure employee effectiveness. Authorization is carried out with three security procedures, namely transaction maker (account payable and paymaster), approver/checker (chief accountant, OIBH, director of finance, and general manager) and releaser (general manager and owner).

Adoption of E-Wallets among Students: Trust and Social Influence in E-Commerce

E-commerce introduces the e-wallet payment transaction system as an innovation that offers convenience and security for consumers in purchasing goods and services online. This research explores the influence of trust in social environments in fostering the intention of students in Central Java, Indonesia, to use e-wallets, utilizing technology theories such as the Technology Acceptance Model (TAM). A quantitative study was conducted through an online survey among students. Purposive sampling was employed as the sampling technique, and data were analyzed using the Partial Least Squares (PLS) approach within Structural Equation Modeling (SEM) analysis. The study found that the factors of trust and social influence significantly impact the intention to use e-wallets, with trust even playing a supportive role in fostering this intention alongside other factors. These findings will assist service providers in enhancing e-wallet services with new innovations tailored to user needs.

CLASSIFICATION OF LEGAL PROVISIONS REGULATING RELATIONS, THE OBJECT OF WHICH IS ELECTRONIC AND DIGITAL MONEY

The article is devoted to the classification of legal provisions regulating relations, the object of which is electronic and digital money. It was determined that legal provisions are the first element of the mechanism of legal regulation of relations, the object of which is electronic and digital money. The legal rules establishing the procedure for the provision of financial payment services by electronic money issuers for the issuance of electronic money and the execution of payment transactions with them (regulatory legal rules) are differentiated into the following groups: legal rules establishing the procedure for opening and maintaining electronic wallets; legal rules establishing requirements for issuers of electronic money and their commercial agents; legal rules establishing the procedure for issuing electronic money; legal rules establishing the procedure for repayment of electronic money; legal rules establishing restrictions on the use of electronic money; legal rules establishing the specifics of performing payment transactions with electronic money. Legal rules regulating relations, the object of which is digital money (regulatory legal rules), are differentiated into the following groups: legal rules establishing the procedure for issuing digital money; legal rules establishing the procedure for storing digital money; legal rules establishing the procedure for repayment of digital money; legal rules establishing the specifics of performing payment transactions using digital money. It is proved that the system of atypical legal provisions regulating relations, the object of which is electronic and digital money, is not extensive (its truncated), since it does not include various types of prescriptions that do not have specific rules of behavior.

Implementation of the Pieces Method at Levelovo Application User Satisfactiont

Technological advances in payment systems replace the role of cash to non-cash forms that are more efficient and economical. One application that has become an alternative choice for many people in making non-cash payment transactions is the OVO application. This research uses the PIECES method which aims to determine the level of satisfaction of OVO application users in Tebat Agung Village based on performance, information, economics, control and security, efficiency and service (service). The results of this research show that the OVO application received an average total score of 3.40, which shows that users are very satisfied with the OVO application in Tebat Agung Village