New Australian consumer payments regulation likely

Significance Market sectors under scrutiny include buy-now-pay-later (BNPL) platforms, cryptocurrency exchanges and digital wallets. All have seen a recent leap in popularity, driven in part by COVID-related concerns but mostly by the mainstream interest in alternative payment methods, leaving regulators concerned. Impacts The Treasurer is likely to gain extended powers to plug gaps in regulatory policy and address convergence issues. Liquidity concerns over cryptocurrency trading could be overcome through a central bank digital currency. Concerns over lost tax revenue and consumer protection, as well as the need to contain market risk, are driving reform efforts.

IMPACT OF DIGITAL WALLETS ON CONSUMER BEHAVIOR IN INDIA

In todays tech-driven world, digital wallets such as Paytm, GPay, MobiKwik, and so on, are gaining immense popularity among consumers. With economies becoming digital as more and more consumers opt for computerized alternatives to the traditional leather wallet, the industry has become a profitable base for potential investors. In India, specifically, the growth of digital wallets has been propelled by the demonetization policy, which significantly reduced the volume of currency in circulation, implemented by the government in 2016. One of the major consequences of an increase in the popularity of digital wallets has been a shift in the behaviors and spending habits of consumers, particularly in India, where the transition to a cashless economy has been considerably rapid. The goal of this study is to assess the apparent impact of the transition to digital economies on consumer behavior, and the various factors associated with this shift. This assessment was made by surveying users of digital wallets, between the ages 18 and 65, to seek their responses on how shifting to digital wallets has impacted them, their spending habits, etc. The responses were closely analyzed and interpreted to come to a conclusion.

Pemanfaatan Teknologi Digital Wallet Sebagai Solusi Alternatif Pembayaran Modern: Literature Review

Financial technology innovation in the form of digital wallets is very interesting to the public. The efficiency offered from this payment system makes people start to switch from conventional payments to digital payments. In addition, many other factors influence multi-generational people using digital wallets as an alternative to their daily payments. The use of digital wallets is currently widely applied to online transportation transactions, purchases in e-commerce, to food and beverage delivery services. The method used in this study is a method of literature study with the goals to find out the development of digital wallet usage in the community from various journals sourced from Scopus and several websites that have been analyzed and processed by researchers into a literature review study. From the results obtained, it can be concluded that from year to year there is an increase in the number of digital wallet users, especially in Indonesia. Moreover after the Covid-19 pandemic, the number of digital wallet users is increasing because people have to avoid physical contact so that more transactions with digitally.Abstrak: Inovasi teknologi keuangan berupa digital wallet sangat manarik perhatian masyarakat. Efisiensi yang ditawarkan dari sistem pembayaran ini membuat masyarakat mulai beralih dari pembayaran konvensional ke pembayaran digital. Selain itu banyak faktor lain yang mempengaruhi para multi generasi menggunakan digital wallet sebagai alternatif pembayaran sehari-hari mereka. Penggunaan digital wallet saat ini banyak diterapkan untuk transaksi transportasi online, pembelian di e-commerce, hingga jasa pesan antar makanan dan minuman. Metode yang digunakan pada penelitian ini yaitu metode studi literatur dengan tujuan untuk mengetahui perkembangan penggunaan digital wallet di masyarakat dari berbagai jurnal yang bersumber dari Scopus dan beberapa website yang telah dianalisis dan diolah peneliti menjadi sebuah kajian literature review. Dari hasil yang didapatkan dapat disimpulkan bahwa dari tahun ke tahun terjadi peningkatan jumlah pengguna digital wallet, khususnya di Indonesia. Apalagi setelah pandemi Covid-19, jumlah pengguna digital wallet semakin meningkat karena masyarakat harus menghindari kontak fisik sehingga lebih banyak melakukan transaksi secara digital.

Analisis Minat Penggunaan Dompet Digital LinkAja dengan Pendekatan Technology Acceptance Model (TAM) di Bandung

The purpose of this study is to analyze the factors that influence the intention to use of digital wallets with an expanded approach of technology acceptance model by adding subjective norms and perceived security as exogenous variables. Subjective norms variable is hypothesized either directly or indirectly through the endogenous variables in TAM to influence intention to use, while perceived security variable is hypothesized to have a direct effect. The hypotheses that have been submitted forms a theoretical framework as structural equation model (SEM). Empirical data was collected through an online survey of 233 respondents who answered 23 questionnaire questions in full. The selection of respondents is determined by purposive—non-probability sampling approach from active users of LinkAja in Bandung whose population is not yet known. The software used to perform the statistical tests of informing that all indicators used meet the criteria of validity and reliability, the ten hypotheses submitted are all accepted based on the t-significance test and strong determining factor. The five TAM variables and their expansion have a positive and significant effect on the intention to use. The biggest influence of antecedent variables on the intention to use sequentially is subjective norms, perceived usefulness, attitude, perceived ease of use, and the smallest is perceived security. In increasing the intention to use, operators should prioritize on increasing subjective norms from prospective users, such as testimonials from role models about the ease of use, convenience, and attractiveness of the digital wallets.

The Effect of Transaction Experience Using Digital Wallets on User Satisfaction in Millennial Generation

The purpose of this study to determine the effect after transaction failure and after failure recovery on the transaction experience, the effect after transaction failure and recovery from transaction failure using digital wallets on user satisfaction, especially in the millennial generation. The population of this study is all digital wallet users in the DKI Jakarta province with a total sample of 94 digital wallet users. The sampling method uses purposive sampling with the criteria of digital wallet users who have made transactions for at least 1 year, this is intended so that these respondents already have transaction experience and are at least 17 years old. Meanwhile, the data processing used Structural Equation Modeling analysis software Lisrel. The results showed: (1) Transaction failure affects the transaction experience of digital wallet users; (2) Transaction failure recovery will affect the transaction experience of digital wallet users; (3) Transaction experience affects the satisfaction of digital wallet users; (4) Transaction failure has no effect on digital wallet user satisfaction; (5) Transaction failure recovery affects the satisfaction of digital wallet users. The novelty of this research is transaction failure has no effect on digital wallet user satisfaction. In addition, the benefits that are felt are far greater than the failures that are experienced, especially when recovery from failure is carried out quickly and precisely.

A STUDY ON CONSUMER PREFERENCE TOWARDS DIGITAL WALLETS DURING COVID 19 PANDEMIC

The ongoing spread of COVID-19 has become one of the biggest threats to the global economy and financial markets. To contain the impact of coronavirus outbreak, India, just like many countries across the globe, is taking several measures; including a nationwide lockdown, limiting movement of the entire population, shutting down public places and transports, urging the public to stay indoors, maintaining social distancing and developing work from home culture. During the period of lockdown, usage of digital wallets has increased. The digital wallet is a leading concept in India that has been beating credit card handling and is gradually beginning to swap the old traditional payment methods. The Digital wallets are virtual wallets; where one can easily store cash for making offline and online payments. Digital wallet app growth point outs the increasing need for efficient payment methods. These offer a much more secure and faster way for engaging transactions. The start- ups and large corporate businesses are also continuously on the lookout for customer-friendly technologies, thereby giving more value and convenience to the customers; especially during COVID-19 era, to retain old and attract new customers. This study was carried out to find out the factors, which affect consumer preference and frequency of usage towards digital wallets. Using a structured questionnaire with the help of ‘Google form’, the primary data was collected from a sample of 115 respondents. ANOVA and frequency analysis were used to find out the factors that affect the consumer preference and impact of various factors on consumer preference towards digital wallets were also analyzed.

FACTORS DETERMINING STUDENTS DECISION TO USE DIGITAL WALLETS

This study aims to find out what factors determine student decisions to use digital wallets. This study uses a qualitative approach to identify variables and a quantitative to classify variables into factors. This study took students studying in Indonesia as a sample, and 11 students underwent interviews and 309 students who became questionnaire respondents. After conducting the interview, 36 variables appear. Only 18 variables meet the value of communalities for further analysis to determine the factors determining the decision using the Exploratory Factor Analysis technique. The results of this study found that six factors determine the decision to use digital wallets by students, namely Primary Needs, Utilities Spending, Convenience, Education, E-Commerce, and Behavioral Shifting. The factor that most influences students' decisions to use digital wallets is the Primary Needs. Keywords : Behavioral Shifting, College Student, Convenience, Digital Wallets, E-Commerce, Education, Primary Needs, Utilities Spending

MODERATING STRUCTURAL EQUATION MODELING DENGAN PARTIAL LEAST SQUARE PADA PEMODELAN PENERIMAAN DAN PENGGUNAAN DOMPET DIGITAL DI KOTA SEMARANG

Digital wallets (e-wallets) are a technology that provides a new perspective for the public on non-cash payments that are far more practical and secure in transactions. The purpose of this study is to determine the factors that influence the success or failure of implementing digital wallets (e-wallets) using the variant-based Structural Equation Modeling method (Partial Least Square). In this decade, an approach has been developed that allows the relationship between an independent variable to the dependent variable which is influenced by other latent variables called Moderating Structural Equation Modeling (MSEM), so this study uses MSEM by measuring it using the ping method. The results of the analysis show that the factors that influence acceptance defined as interest in using the technology are social influences, faciliating conditions and consumer habits. Meanwhile, the factors that influence the use of digital wallets which are defined as usage behavior are interest in use and conditions that facilitate. The use of digital wallets (e-wallets) is also indirectly influenced by social influences, conditions that facilitate and consumer habits. the factor of supporting facilities from the issuer of digital wallets (e-wallets) is a factor that affects directly and indirectly the use of digital wallets (e-wallets). Analysis of Moderating Structural Equation Modeling (MSEM) using the ping method results that experience does not affect the acceptance and use of digital wallets (e-wallets) as moderation Keywords: Acceptance and Use Model, Digital Wallet (E-wallet), Partial Least Square, Moderating Structural Equation Modeling.

Penerapan Literasi Keuangan Dalam Memahami Financial Technology

Financial Technology (Fin Tech) is a form of technology-based financial service that is developing in the world. The purpose of Financial Technology is to facilitate the transaction process between buyers and sellers and to reduce gaps or fraud in the transaction process. However, the gap of financial knowledge, especially digital financial technology, is wide and deep. Therefore the importance of financial knowledge (financial literacy) to the community is a necessity to be carried out synergistically by stakeholders including regulators, relevant ministries / government bodies, industry associations and fintech actors, financial service institutions and others. In addition to fintech products such as digital wallets that are well known to the public, an important element in the management of knowledge is to explain aspects of transparency regarding business processes and risks of fintech. Based on this phenomenon, the community service team of the University of Pamulang S1 Accounting Study Program has conducted online counseling via the zoom application for RT 03 Residents of Villa Mellia Housing, Gunung Sindur District, Bogor Regency as a concern for the importance of understanding the use of fintech in daily life in the era globalization with digital wallets with the importance of applying good financial literacy.

MOTIVATION OF THE USE OF DIGITAL WALLETS IN YOUNG GENERATIONS IN THE TIME OF THE COVID-19 PANDEMIC

This study aims to analyze how the Technology Acceptance Model which consists of Percieved usefulness, Perceived Ease of use, Privacy and Security, and additional variable "Promotion Programs" affect behavior intention in using e-wallets or digital wallets in the current pandemic era. A total of 394 respondents aged 16-30 years old who use e-wallets in Yogyakarta were sampled in this study. The results using the SEM test show that perceived usefulness and behavioral intention have a significant effect. Meanwhile, Perceived Ease of use, Privacy and Security, and promotional programs are not significant on E-Wallets Usage.