Article Sidebar

Download
PDF
Statistic
Read Counter : 251 Download : 154

Main Article Content

Abstract

This study aims to analyze the trends in digital payment usage, the key factors influencing adoption, and the roles of Perceived Usefulness and Perceived Ease of Use in driving user interest. A systematic literature review approach was employed, analyzing scholarly articles from the past decade (2014–2024), focusing on technological, behavioral, cultural, and regulatory aspects influencing digital payment adoption. The findings reveal that digital payment adoption has proliferated and is driven by technological advancements such as blockchain, regulatory support, and economic incentives. Perceived Usefulness emerges as a primary factor, offering benefits such as efficiency, cost savings, and enhanced financial inclusion. Meanwhile, Perceived Ease of Use, including intuitive interfaces and AI-based support, strengthens user engagement. This study highlights the importance of user-friendly and locally adaptive service designs. Practically, the findings provide strategic guidance for service providers and policymakers to prioritize intuitive designs, robust security frameworks, and digital literacy programs to foster the development of an inclusive and sustainable digital payment ecosystem.

Keywords

Trends digital payment services Causes digital payment services Digital payment adoption

Article Details

References

  1. As’ad, A., Brasit, N., Muis, M., & Umar, F. (2024). uNVEILING THE ANTECEDENTS OF SuSTAINABLE PERFORMANCE: INSIGHTS FROM HOSPITALITY INDuSTRY MANAGERS.
  2. Abdulai, M. G., Dary, S. K., & Domanban, P. B. (2024). Adoption of digital payment platforms and trade credit activities among informal firms in Ghana. Heliyon, 10(11), e32302. https://doi.org/10.1016/j.heliyon.2024.e32302
  3. Adhikary, A., Diatha, K. S., Borah, S. B., & Sharma, A. (2021). How does the adoption of digital payment technologies influence unorganized retailers’ performance? An investigation in an emerging market. Journal of the Academy of Marketing Science, 49(5), 882–902. https://doi.org/10.1007/s11747-021-00778-y
  4. Ahamad, S. S. (2022). A Novel NFC-Based Secure Protocol for Merchant Transactions. IEEE Access, 10, 1905–1920. https://doi.org/10.1109/ACCESS.2021.3139065
  5. Aji, H. M., Berakon, I., Muafi, & Kholid, M. N. (2019). The Moderating Role of Knowledge about Riba on Intention to Use E-Money: Findings from Indonesia. 2019 IEEE 6th International Conference on Industrial Engineering and Applications, ICIEA 2019, 588–593. https://doi.org/10.1109/IEA.2019.8714982
  6. 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
  7. Amrita, N. D. A., Supartha, I. W. G., Giantari, I. G. A. K., & Ekawati, N. W. (2022). Attitude based on Tri Kaya Parisudha in increasing intention to reuse e-money. International Journal of Data and Network Science, 6(4), 1115–1124. https://doi.org/10.5267/j.ijdns.2022.7.008
  8. Ariffin, F. Bin, Ishii, K., Sato, M., & Ochiai, S. (2021). The effectiveness of the e-money incentive mechanism in promoting separation of recyclables at source in Malaysia. Journal of Material Cycles and Waste Management, 23(1), 371–385. https://doi.org/10.1007/s10163-020-01107-1
  9. Arora, A. K., Panchal, A., Gupta, V. P., & Sharma, D. (2023). Digital payment apps: perception and adoption – a study of higher education students. International Journal of Enterprise Network Management, 14(1–2), 122–138. https://doi.org/10.1504/IJENM.2023.130774
  10. Banerjee, A. K., & Pradhan, H. K. (2024). Influence of demographic profiles in adoption of digital payment system in India: a multigroup invariance analysis. Technology Analysis and Strategic Management, 36(10), 2285–2301. https://doi.org/10.1080/09537325.2022.2132928
  11. Broby, D. (2021). Financial technology and the future of banking. Financial Innovation, 7(1). https://doi.org/10.1186/s40854-021-00264-y
  12. Carli, F., & Uras, B. R. (2024). E-money, risk-sharing, and welfare. European Economic Review, 169(July 2023), 104832. https://doi.org/10.1016/j.euroecorev.2024.104832
  13. Chaudhry, S. A., Farash, M. S., Naqvi, H., & Sher, M. (2016). A secure and efficient authenticated encryption for electronic payment systems using elliptic curve cryptography. Electronic Commerce Research, 16(1), 113–139. https://doi.org/10.1007/s10660-015-9192-5
  14. Chen, B., & Ren, J. (2022). Does the Adoption of Digital Payment Improve the Financial Availability of Farmer Households? Evidence from China. Agriculture (Switzerland), 12(9). https://doi.org/10.3390/agriculture12091468
  15. Davoodalhosseini, S. M., & Rivadeneyra, F. (2020). A policy framework for e-money. Canadian Public Policy, 46(1), 94–106. https://doi.org/10.3138/cpp.2019-010
  16. Dehghan, F., & Haghighi, A. (2015). E-money regulation for consumer protection. International Journal of Law and Management, 57(6), 610–620. https://doi.org/10.1108/IJLMA-06-2014-0042
  17. Denyer, D., & Tranfield, D. (2009). Producing a systematic review.
  18. Dimitrova, I. (2024). Barrier-breakers ’ influence on full-adoption of digital payment methods. 34(7), 139–159. https://doi.org/10.1108/INTR-11-2022-0886
  19. Dimitrova, I., & Öhman, P. (2024). Flip that coin: Barriers, barrier-breakers, and full-adoption of digital payment methods. Journal of Consumer Behaviour, August 2023, 2367–2378. https://doi.org/10.1002/cb.2343
  20. Fadhilah, I., & Aruan, D. T. H. (2023). Understanding consumer adoption and actual usage of digital payment instruments: comparison between Generation Y and Generation Z. International Journal of Electronic Marketing and Retailing, 14(1), 1. https://doi.org/10.1504/ijemr.2023.10050665
  21. Fatonah, S., Yulandari, A., & Wibowo, F. W. (2018). A Review of E-Payment System in E-Commerce. Journal of Physics: Conference Series, 1140(1). https://doi.org/10.1088/1742-6596/1140/1/012033
  22. Frączek, B., & Urbanek, A. (2021). Financial inclusion as an important factor influencing digital payments in passenger transport: A case study of EU countries. Research in Transportation Business and Management, 41(April 2020). https://doi.org/10.1016/j.rtbm.2021.100691
  23. FEB Unair. (2024, May 29). “Systematic Literature Review Melalui Watase Uake Untuk Pengembangan Penelitian” Hima S3 Ilmu Ekonomi Universitas Airlangga. https://feb.unair.ac.id/news-download/news-mahasiswa/hima-s3-ie/8761-systematic-literature-review-melalui-watase-uake-untuk-pengembangan-penelitian-hima-s3-ilmu-ekonomi-universitas-airlangga.html
  24. Gafeeva, R., Hoelzl, E., & Roschk, H. (2018). What else can your payment card do? Multifunctionality of payment modes can reduce payment transparency. Marketing Letters, 29(1), 61–72. https://doi.org/10.1007/s11002-017-9445-2
  25. Herdiyanto, D. W., Setiabudi, D., & Chaidir, A. R. (2020). Electronic transaction system for user authentication and e-payment application based on RFID smart card. AIP Conference Proceedings, 2278(October). https://doi.org/10.1063/5.0014687
  26. Jiang, Y., Ahmad, H., Butt, A. H., Shafique, M. N., & Muhammad, S. (2021). QR digital payment system adoption by retailers: The moderating role of COVID-19 knowledge. Information Resources Management Journal, 34(3), 41–63. https://doi.org/10.4018/IRMJ.2021070103
  27. Khando, K., Gao, S., Islam, S. M., & Salman, A. (2021). Enhancing employees information security awareness in private and public organisations: A systematic literature review. Computers & Security, 106, 102267. https://doi.org/https://doi.org/10.1016/j.cose.2021.102267
  28. Ladkoom, K., & Thanasopon, B. (2020). Factors influencing reuse intention of e-payment in Thailand: A case study of promptpay. ICEIS 2020 - Proceedings of the 22nd International Conference on Enterprise Information Systems, 1(Iceis), 743–750. https://doi.org/10.5220/0009410407430750
  29. Lakhaiyar, S., & Mani, M. (2022). Factors influencing adoption of digital payment systems during COVID-19. International Journal of Sociotechnology and Knowledge Development, 14(1), 1–3. https://doi.org/10.4018/IJSKD.315292
  30. Lotz, S., & Vasselin, F. (2019). a New Monetarist Model of Fiat and E-Money. Economic Inquiry, 57(1), 498–514. https://doi.org/10.1111/ecin.12714
  31. Milne, A. (2023). Argument by False Analogy: The Mistaken Classification of Bitcoin as Token Money. Journal of Money, Credit and Banking, 0(0). https://doi.org/10.1111/jmcb.13061
  32. Ng, W. K., Chen, S., Chen, W. H., Chen, C. L., & Jiang, J. L. (2024). Mobile Payment Innovation Ecosystem and Mechanism: A Case Study of Taiwan’s Servicescapes. Journal of Theoretical and Applied Electronic Commerce Research, 19(1), 633–653. https://doi.org/10.3390/jtaer19010034
  33. Pei, Y., Wang, S., Fan, J., & Zhang, M. (2015). An empirical study on the impact of perceived benefit, risk and trust on E-payment adoption: Comparing quick pay and union pay in China. Proceedings - 2015 7th International Conference on Intelligent Human-Machine Systems and Cybernetics, IHMSC 2015, 2, 198–202. https://doi.org/10.1109/IHMSC.2015.148
  34. Polasik, M., Piotrowska, A. I., Wisniewski, T. P., Kotkowski, R., & Lightfoot, G. (2015). Price fluctuations and the use of bitcoin: An empirical inquiry. International Journal of Electronic Commerce, 20(1), 9–49. https://doi.org/10.1080/10864415.2016.1061413
  35. Putrevu, J., & Mertzanis, C. (2024). The adoption of digital payments in emerging economies: challenges and policy responses. Digital Policy, Regulation and Governance, 26(5), 476–500. https://doi.org/10.1108/DPRG-06-2023-0077
  36. Rahmi, A., & Adhy, S. (2019). Analysis of Server-Based Electronic Money Acceptance Using Partial Least Square Method. ICICOS 2019 - 3rd International Conference on Informatics and Computational Sciences: Accelerating Informatics and Computational Research for Smarter Society in The Era of Industry 4.0, Proceedings, 1–6. https://doi.org/10.1109/ICICoS48119.2019.8982382
  37. Ravikumar, T., & Prakash, N. (2022). Determinants of adoption of digital payment services among small fixed retail stores in Bangalore, India. International Journal of Business Innovation and Research, 28(3), 319–346. https://doi.org/10.1504/IJBIR.2022.124123
  38. Riskinanto, A., Kelana, B., & Hilmawan, D. R. (2017). The Moderation Effect of Age on Adopting E-Payment Technology. Procedia Computer Science, 124, 536–543. https://doi.org/10.1016/j.procs.2017.12.187
  39. Sahi, A. M., Khalid, H., Abbas, A. F., & Khatib, S. F. A. (2021). The evolving research of customer adoption of digital payment: Learning from content and statistical analysis of the literature. Journal of Open Innovation: Technology, Market, and Complexity, 7(4), 230. https://doi.org/10.3390/joitmc7040230
  40. Sethaput, V., & Adsavakulchai, S. (2021). E-Payment and It’s Effects on Cash in Thailand. Proceeding of the 2021 9th International Electrical Engineering Congress, IEECON 2021, Cic, 460–463. https://doi.org/10.1109/iEECON51072.2021.9440063
  41. Siagian, H., Tarigan, Z. J. H., Basana, S. R., & Basuki, R. (2022). The effect of perceived security, perceived ease of use, and perceived usefulness on consumer behavioral intention through trust in digital payment platform. International Journal of Data and Network Science, 6(3), 861–874. https://doi.org/10.5267/j.ijdns.2022.2.010
  42. Susanto, P., Hoque, M. E., Hashim, N. M. H. N., Shah, N. U., & Alam, M. N. A. (2022). Moderating effects of perceived risk on the determinants–outcome nexus of e-money behaviour. International Journal of Emerging Markets, 17(2), 530–549. https://doi.org/10.1108/IJOEM-05-2019-0382
  43. Taneja, S., Ali, L., Siraj, A., Ferasso, M., Luthra, S., & Kumar, A. (2024). Leveraging Digital Payment Adoption Experience to Advance the Development of Digital-Only (Neo) Banks: Role of Trust, Risk, Security, and Green Concern. IEEE Transactions on Engineering Management, 71, 10862–10873. https://doi.org/10.1109/TEM.2024.3395130
  44. Widayat, W., Masudin, I., & Satiti, N. R. (2020). E-Money payment: Customers’ adopting factors and the implication for open innovation. Journal of Open Innovation: Technology, Market, and Complexity, 6(3). https://doi.org/10.3390/JOITMC6030057
  45. Xia, H., Gao, Y., & Zhang, J. Z. (2023). Understanding the adoption context of China’s digital currency electronic payment. Financial Innovation, 9(1). https://doi.org/10.1186/s40854-023-00467-5
  46. Yang, K., Hu, M., Jia, Z., Gong, B., & Zhang, X. (2019). An Association Ring Signature for Block Chain E-Money Transactions. Wuhan University Journal of Natural Sciences, 24(2), 169–175. https://doi.org/10.1007/s11859-019-1382-x
  47. Zhang, X., Tang, S., Zhao, Y., Wang, G., Zheng, H., & Zhao, B. Y. (2017). Cold hard E-cash: Friends and vendors in the venmo digital payments system. Proceedings of the 11th International Conference on Web and Social Media, ICWSM 2017, Icwsm, 387–396. https://doi.org/10.1609/icwsm.v11i1.14873