STRENGTHENING THE ISLAMIC DIGITAL PAYMENT SYSTEM THROUGH SHARIA ELECTRONIC WALLET (E-WALLET)

Firsty Izzata Bella, Nadya Fira Efendi

Abstract


The objective of this research is to propose a strategy to strengthen the islamic digital wallet or electronic wallet (e-wallet) in Indonesia to compete with its conventional counterparts. Qualitative research methods with study literature were chosen to explore previous research that had been discussed on e-wallets particularly from the Islamic perspective both at global and national levels through reputable journals, reports, and other supportive documents. The results depicted that the Islamic e-wallet can be optimized through four points, namely promotion, education, collaboration, and trust but remained fulfilling sharia compliance so that the values of Islamic teachings are not vanished. Promotions in the form of cashback can be substituted for points to be converted into donations through the Islamic crowdfunding platform. Education can be improved through social media platforms. The way is by coordinating with Islamic public figures, collaboration with merchants and service providers. Finally increasing trust by safeguarding user data and funds.


Keywords


E-Wallet; Digital Payment System; Electronic Money

Full Text:

PDF

References


Aji, H. M., Berakon, I., & Riza, A. F. (2020). The effects of subjective norm and knowledge about riba on intention to use e-money in Indonesia. Journal of Islamic Marketing, 12(6), 1180–1196. https://doi.org/10.1108/JIMA-10-2019-0203

Aji, H. M. (2019). E-Money and ‘riba’: Understanding the business model. The Jakarta Post. https://www.thejakartapost.com/academia/2019/04/ 08/e-money-and-riba-understanding-the-business-model.html

Akmal, H., Mellina, T., Jamal, M., Zarkasyi, H. F. (2020). Konsep Penjagaan Terhadap Harta Dalam Wisata Syariah. IJTIHAD, 14(1), 1–20. https://doi.org/10.21111/ijtihad.v14i1.4501

Alam, M. M., Awawdeh, A. E., & Muhamad, A. I. B. (2021). Using e-wallet for business process development: challenges and prospects in Malaysia. Business Process Management Journal, 27(4), 1142-1162. https://doi.org/10.1108/BPMJ-11-2020-0528

Ali, M., Raza, S. A., Khamis, B., Puah, C. H., & Amin, H. (2021). How perceived risk, benefit and trust determine user Fintech adoption: a new dimension for Islamic finance. Foresight, 23(4), 403–420. https://doi.org/10.1108/FS-09-2020-0095

Amelia, Fitri; Fikriyah, K. (2020). Hubungan Promo Cashback

Terhadap Loyalitas Pelanggan Muslim Surabaya Dalam Pelayanan Digital Wallet Ovo. Jurnal Ekonomika Dan Bisnis Islam, 3(2), 108–115.

Bakar, N. A., Rosbi, S., & Uzaki, K. (2020). E-Wallet Transactional Framework for Digital Economy : A Perspective from Islamic Financial Engineering. International Journal of Management Science and Business Administration, 6(3), 50–57. https://doi.org/10.18775/ijmsba.1849-5664-5419.2014.63.1005

Bank Indonesia. (2018). Peraturan Bank Indonesia Nomor 20/6/PBI/2018 tentang Uang Elektronik. In Bank Indonesia.

Bank Indonesia. (2020a). Daftar Penerbit Uang Elektronik. https://www.bi.go.id/id/statistik/sistem-pembayaran/uang-elektronik/contents/penyelenggara uang elektronik.aspx

Bank Indonesia. (2020b). Total Transaksi Uang Elektronik. https://www.bi.go.id/id/statistik/sistem-pembayaran/uang-elektronik/contents/transaksi.aspx

Darmansyah, F. B. A., Hendratmi, A., & Aziz, P. F. (2020). Factors determining behavioral intentions to use Islamic financial technology: Three competing models. Journal of Islamic Marketing. 12(4), 794-812. https://doi.org/10.1108/JIMA-12-2019-0252

Djamaluddin, S., Hidayanto, A. N., & Wardhani, S. (2016). Perception of beneficiaries towards adoption of e-money in the distribution of social assistance in Indonesia. Economic Journal of Emerging Markets, 8(1), 13–24. https://doi.org/10.20885/ejem.vol8.iss1.art2

Firpo, J. (n.d.). E-Money – Mobile Money – Mobile Banking – What’s the Difference? World Bank Blogs. Retrieved July 3, 2020, from https://blogs.worldbank.org/psd/e-money-mobile-money-mobile-banking-what-s-the-difference

Forrester Research. (2017). The Next Phase Of Digital Wallet Adoption (Issue September).

Ipsos. (2020). Ipsos Media Conference - Strategi Menang Tanpa Bakar Uang. Retrieved July 3, 2020, from https://www.ipsos.com/en-id/ipsos-media-conference-strategi-menang-tanpa-bakar-uang

Jones, N., Borgman, R., & Ulusoy, E. (2015). Impact of social media on small businesses. Journal of Small Business and Enterprise Development, 22(4), 611–632. https://doi.org/10.1108/JSBED-09-2013-0133

Keegan, B. J., & Rowley, J. (2017). Evaluation and decision making in social media marketing. Management Decision, 55(1), 15–31. https://doi.org/10.1108/MD-10-2015-0450

Komite Nasional Keuangan Syariah. (2018). Masterplan Ekonomi Syariah Indonesia 2019-2024. In Kementerian Perencanaan Pembangunan Nasional/ Badan Perencanaan Pembangunan Nasional.

Putra, H. D., Kusumawati, A., Astuti, E. S., & Abdillah, Y. (2020). Effect of brand trust and commitment of a mobile wallet in Indonesia. Utopia y Praxis Latinoamericana, 25(Extra 2), 397–405. https://doi.org/10.5281/ zenodo.3815290

Putra, H. D., Astuti, E. S., Kusumawati, A., & Abdillah, Y. (2020). Knowing the reasons of using E money LinkAja in Indonesia. Talent Development and Excellence, 12(3), 242–250.

Rafdinal, W., & Senalasari, W. (2021). Predicting the adoption of mobile payment applications during the COVID-19 pandemic. International Journal of Bank Marketing. https://doi.org/10.1108/IJBM-10-2020-0532

Reskyana, N. C. (2020). Analysis of Factors Affecting Continuance Usage Intention of LinkAja Applications. Almana: Jurnal Manajemen Dan Bisnis, 4(1), 17–28.

Samsumar, L. D. (2016). Konsep Dan Tantangan Penggunaan Teknologi E-Money Sebagai Alat Pembayaran Alternatif Di Indonesia. METHODIKA: Jurnal Teknik Informatika Dan Sistem Informasi, 2(1), 102–107.

Susanto, P., Hoque, M. E., Hashim, N. M., Shah, N. U., & Alam, M. N. (2020). Moderating effects of perceived risk on the determinants – outcome nexus of e-money behaviour. International Journal of Emerging Markets. https://doi.org/10.1108/IJOEM-05-2019-0382

Ulfi, I. (2020). Tantangan Dan Peluang Kebijakan Non-Tunai: Sebuah Studi Literatur. Jurnal Ilmiah Ekonomi Bisnis, 25(1), 55–65. https://doi.org/10.35760/eb.2020.v25i1.2379

Utami, M. C. (2019). Implementasi Analytical Hierarchy Process (AHP) Dalam Pemilihan E-Wallet Untuk Mahasiswa. Jurnal Ilmiah Matrik, 21(3), 259–265. https://doi.org/10.33557/jurnalmatrik.v21i3.730

Hootsuite. (2020). DIGITAL 2020: INDONESIA. https://datareportal.com/reports/digital-2020-indonesia

Widyastuti, K., Handayani, P. W., Wilarso, I. (2017). Tantangan dan Hambatan Implementasi Produk Uang Elektronik di Indonesia: Studi Kasus PT XYZ. Jurnal Sistem Informasi (Journal of Information System), 13(1), 38–48.

Yin, R. K. (2014). Case Study Research Design and Methods (5th Editio). SAGE Publications.

Zulni, D., A., & Achiria, S. (2020). Implementation of Islamic Business Ethics in Digital Wallet: Literature Review Approach. EkBis: Jurnal Ekonomi Dan Bisnis, 3(1), 232–241. https://doi.org/10.14421/EkBis.2019.3.1.1181




DOI: https://doi.org/10.18860/ed.v9i2.11451

Refbacks

  • There are currently no refbacks.


Bookmark and Share


Editorial Office:
Megawati Soekarnoputri Building
Faculty of Economics
E-mail: eldinar@uin-malang.ac.id
Universitas Islam Negeri Maulana Malik Ibrahim Malang

E-ISSN 2622-0083 

Creative Commons License
El Dinar under a CC BY SA 4.0 International License.

Member of:

 

Indexed By:

 

 


View My Stats

 

Flag Counter