Implementation of QRIS-Based Payments Towards the Digitalization of Indonesian MSMEs

Sari, Arum Candra; Adinugraha, Hendri Hermawan

doi:10.30983/es.v5i2.5027

Cited by 13 publications

(15 citation statements)

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“…QRIS provides convenience to the entire population, making transactions easier, faster, and more secure. (Kurniawati et al, 2021;Puspitasari & Salehudin, 2022;Sari & Adinugraha, 2022) Bank-based electronic money has become widely used by the Indonesian population as a payment feature, and it is commonly known as "e-toll" because of its initial use. The government introduced this card as the sole transaction method for toll road users across the entire Indonesian territory (Simanjuntak et al, 2022;Suharyo et al, 2018).…”

Section: Resultsmentioning

confidence: 99%

Authority and Dynamics of Compliance to Resolve Sharia Digital Finance Disputes in Indonesia

Abdul Mujib

2023

hikmatuna

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This article focuses on analyzing the urgency of authorities in adapting technology to modern financial services. Conventional financial institutions (existing institutions) are entering a new era, where all financial transaction activities are connected to technology. The development of digital financial services such as electronic money (digital payments) and digital funds (crowdfunding) creates very fierce competition in today's modern financial services industry. The main problem that arises in the adaptation of information technology in financial services is legal certainty and protection for parties involved in digital financial transactions. This research analyzes the development trend of digital financial services in Indonesia. In addition, this study shows the efforts made by regulators in anticipating legal problems. Views on Islamic digital financial dispute resolution approaches and procedures are also the focus of discussion in this article. The method used in this study is literature research. This research uses an exploratory normative legal approach. Data collection techniques are carried out by observing, reviewing, and analyzing textual information which is then adapted as the main data in the discussion of this research topic. Data was collected from a literature review in the form of library materials or secondary data related to digital finance. This research produced several findings, namely: 1) the urgency of the authority in controlling the implementation of Islamic digital finance by presenting special regulations to minimize disputes between the parties. 2) Sharia digital financial platforms are ensured to have maximum Sharia compliance tools through Sharia compliance audits under the control of the authority.

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Section: Resultsmentioning

confidence: 99%

Authority and Dynamics of Compliance to Resolve Sharia Digital Finance Disputes in Indonesia

Abdul Mujib

2023

hikmatuna

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“…In addition, this aligns with the trend that the crisis will increase giving behavior because people's psychology to donate is affected. One of the interesting innovations in Indonesia regarding waqf is Cash Waqf Linked Sukuk (CWLS) (Sari & Adinugraha, 2021). The CWLS program is a direct link between Sukuk and Waqf, creating programs supporting the country's finances and development while improving society through philanthropy.…”

Section: The Role and Impact Of Islamic Social Finance In Indonesiamentioning

confidence: 99%

Islamic social finance in Indonesia: Opportunities, challenges, and its role in empowering society

Adinugraha

Shulhoni

Achmad

2023

RISFE

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Purpose – This study identifies and analyzes Islamic social finance's potential, opportunities, challenges, roles, and impacts in empowering people in Indonesia.Methodology – This research used descriptive and explorative qualitative methods with a systematic literature review. This study used data analysis techniques and content analysis. Findings – This research shows enormous potential for Islamic social finance in Indonesia. Indonesia’s opportunity as a country that has the largest Muslim population in the world and has a large market potential for Islamic social finance. Challenges in developing Islamic social finance, namely the low support for Islamic social finance, the absence of Islamic banks that have maximum assets, the lack of qualified Islamic economic, human resources in the field of Islamic social finance, and the low capacity of research and development of Islamic social finance. Islamic social finance is oriented toward social welfare. This is concrete evidence of its strategic role in community empowerment and poverty alleviation in Indonesia. Islamic social finance is proven to be the main instrument that has a central role in sustainable poverty alleviation that impacts the benefit of all society. Implications – Islamic social finance should integrate with other Islamic philanthropic institutions domestically and globally to expand its impact in empowering people in Indonesia.Originality – This highly structured and in-depth literature review examines and describes the potential, opportunities, challenges, roles, and impacts of Islamic social finance.

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“…Referring back to the R-DT Model (Muditomo & Wahyudi, 2020), SMEs in Indonesia can use QRIS to accelerate digital transformation by collaborating with PJSP as a strategic partner to go digital and digitize their operations. More research has been discovered in the field of use (Candra Sari & Hermawan Adinugraha, 2022;Mahyuni & Setiawan, 2021;Nada et al, 2021;Sihaloho et al, 2020;Yuningsih et al, 2021).…”

Section: Financial Inclusionmentioning

confidence: 99%

Digital Transformation of Small Medium Enterprises: A Descriptive Analysis of Quick Response Indonesia Standard Data

Muditomo

Setyawati

2022

jamburaequilib.j

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The purpose of this study is to explain the digital transformation of Indonesian micro and medium enterprises (SMEs) through descriptive data analysis on the implementation of the Indonesian quick response standard (QRIS) through the end of 2021. The implementation of QRIS in Indonesia increases literacy and electronic financial inclusion among Indonesian SMEs, attempting to make it easier for the government to conduct better monitoring of SME transactions. The development of QRIS, which began in 2019, has proven to be capable of improving the documentation of digital financial inclusion of SMEs with 14.78 million merchants, the majority of whom are SME merchants, specifically micro business merchants (UMI), small business merchants (UKE), and medium business merchants (UME). Similarly, SMEs dominate in terms of volume and nominal transactions. This descriptive analysis will provide an overview of the evolution of SME digitization in Indonesia, which market players and regulators can use to develop policies and strategies for the future of SMEs.

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Implementation of QRIS-Based Payments Towards the Digitalization of Indonesian MSMEs

Cited by 13 publications

References 0 publications

Authority and Dynamics of Compliance to Resolve Sharia Digital Finance Disputes in Indonesia

Authority and Dynamics of Compliance to Resolve Sharia Digital Finance Disputes in Indonesia

Islamic social finance in Indonesia: Opportunities, challenges, and its role in empowering society

Digital Transformation of Small Medium Enterprises: A Descriptive Analysis of Quick Response Indonesia Standard Data

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