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

<div class="WordSection1"><p class="abstrak"><em>This study aims to determine the implementation of QRIS as measured by the existence and urgency as a payment digitalization medium to support the Digitalization of MSMEs in the context of Indonesia's economic recovery. This research is a literature study that was analyzed using a qualitative-descriptive approach with secondary data sources originating from journals and reports related to the Digitalization of MSMEs. The results and discussion of this research, that the QRIS launched by Bank Indonesia can help MSME actors adapt to existing conditions. QRIS as a MSME survival strategy is carried with the theme EXCELLENCE (UNiversal, Easy, Profit and Direct). The theme was taken because the use of QRIS is easy and practical, namely by scanning the QR code that has been provided by the merchant. QRIS has been officially launched and supervised under Bank Indonesia. The easy use of QRIS provides benefits for both merchants and buyers, especially for users of non-cash payment applications. For merchants, QRIS is useful in terms of increasing sales, practicality, branding, saving, avoiding counterfeit money, segregating business funds, and credit profiles. QRIS are flexible, safe and practical so that QRIS can become the driving force in the acceleration of digitalization for economic recovery.</em><em></em></p><p class="abstrak" align="left"> </p><p class="abstrak">Penelitian bertujuan untuk mengetahui implementasi dari QRIS yang diukur dari eksistensi serta urgensi sebagai media digitalisasi pembayaran guna mendukung digitalisasi UMKM dalam rangka pemulihan perekonomian Indonesia. Penelitian ini merupakan penelitian studi pustaka yang dianalisis dengan menggunakan pendekatan kualitatif-deskriptif dalam menjelaskan fenomena terkait implementasi QRIS pada UMKM. Sumber data yang digunakan adalah sumber data sekunder yang berasal dari jurnal maupun laporan terkait dengan digitalisasi UMKM. Hasil dan pembahasan dari penelitian ini, bahwa QRIS yang diluncurkan oleh Bank Indonesia dapat membantu adaptasi pelaku UMKM terkait kondisi yang ada. QRIS sebagai strategi bertahan UMKM ini diusung dengan tema UNGGUL (UNiversal, GampanG, Untung dan Langsung). Tema tersebut diambil karena penggunaan QRIS yang mudah dan praktis, yaitu dengan melakukan scan pada QR code yang sudah disediakan oleh merchant. QRIS telah resmi diluncurkan dan diawasi dibawah Bank Indonesia. Penggunaan QRIS yang mudah memberikan manfaat baik bagi merchant maupun kepada pembeli terutama bagi pengguna aplikasi pembayaran non tunai. Bagi merchant, QRIS bermanfaat dalam segi, peningkatan penjuala, praktis, branding, hemat, penghindaran uang palsu, pemisahan dana usaha, dan credit profile. Bagi pengguna, manfaat QRIS berupa, fleksibel, aman dan praktis. Dalam hal ini, maka dapat dikatakan QRIS sebagai pendorong percepatan digitalisasi guna pemulihan ekonomi.</p><p class="abstrak"> </p></div>

Pengaruh Iklan Cash Card Terhadap Minat Mahasiswa Febi UIN Sumatera Utara

This research is motivated by increasingly rapid technologicaldevelopments, especially in the economic field, namely the paymentsystem. The card acts as a non-cash payment instrument and makesit easier for the public to make transactions or transfers betweenindividuals. This shows that people have switched from cashpayments to non-cash payments which will have an impact on thecurrent formula for money supply. Stability of money demand inpotential member states is imperative for the feasible commonmonetary policy. This study aims to determine the level of influenceof cash card advertising (atm card) on the interest of Islamiceconomics students at UIN North Sumatra and to determine whetheror not there is an effect of cash card advertising on the interests ofstudents of Febi UIN North Sumatra. The research method used is aquantitative method. Collecting data distributing respondentsIslamic economics S1 Stambuk 2019.. Research data collection usesthe questionnaire method with the Likert scale method and is givento 100 respondents. In this study, the data analysis techniques usedwere descriptive analysis and uji t using SPSS 15.0. The results ofthis study indicate that the effect of cash card advertising on theinterest of Islamic economics students at FEBI UIN North Sumatrais 15.49%. After passing several tests, it can be concluded that theeffect of cash card advertising is significant or there is a positiveinfluence on student interest

Does receiving a basic income encourage citizens to turn out to vote? Evidence from mayoral and general elections in Brazil

Political theorists and enthusiasts of basic income programs advocate that receiving an unconditional, periodic, and nonwithdrawable cash payment can encourage voter turnout by freeing citizens' time, energy, and cognitive bandwidth. This paper provides the first quantitative assessment of this argument by studying Renda Básica de Cidadania (RBC) -- currently the largest basic income program in Latin America. RBC pays a monthly transfer equivalent to 15% (R$170 approx. US$35) of the national minimum wage to 42,000 (25%) of individuals living in Maricá, Brazil. Estimates from a difference-in-differences design show a substantive increase in voter turnout after the adoption of the basic income. Besides turnout, the RBC is also associated with a reduction of invalid votes -- which tends to signal voters' lack of information about candidates or their dissatisfaction with the candidate pool. These effects appear in local and general elections and are robust across different models.

Non-linear pricing in E-commerce: an exploration

PurposeTo understand the new non-linear pricing in E-commerce. The present paper aims to put forth an idea of using tie-in agreement in the electronic commerce market in the name of trust in India. According to the Indian antitrust law, tie-in agreement is not allowed to use as compulsory in an offer to the buyer. This means that a tie-in agreement cannot be a compulsion or only an option to the buyer. This means it can be an extra option.Design/methodology/approachThe paper shows that using this logic the sellers are giving two options simultaneously to the buyer: (1) a commodity with a tie-in agreement and (2) the same commodity without a tie-in agreement. Therefore, there are two price mechanisms that are present. Now it is the decision of the buyer to choose between the two. These two price mechanisms create a new variable called trust. If the buyer selects the first option, then that buyer will not be treated as a trustworthy buyer, but in the second case, the buyer would be treated as a trustworthy or the affianced buyer. Therefore, the buyer would be leaning toward the second option. The paper proves that in the second option it would be difficult to minimize the consumer expenditure. As a result, there would be a situation of non-linear pricing in the name of trust which is hidden in the offer. The present work gives both theoretical models and empirical justifications.FindingsWe find that E-wallet is often used when a consumer orders food online but offline cash payment is preferred. Therefore, the offer does matter for the consumer. Hence, the offer can be used to make a tie-in arrangement. Therefore, even if there is a tie-in arrangement in online food servicing applications, the Competition Commission of India can restrict such practices as for illegal tying, the firm has to have the monopoly power in one market and there should be compulsory tie-arrangement in another market. But it does not mean that E-wallet tie-arrangement cannot be ignored as the monopoly power in the online food servicing market can influence the market share in the E-wallet market. Tie-in arrangement is also important, as the consumer has to spend more under cashback offer conditions which reduce the long-run gain of consumers.Originality/valueThe paper considered trust as a new element in forming non-linear pricing. This is new to this literature.

How Does FinTech Affect Consumer Non-cash Payment Satisfaction? The Moderating Role of Financial Knowledge

As the merger of innovations from developing financial services for the twenty-first century, FinTech has brought payment methods into a new and electronic era, and non-cash payment is gradually becoming the mainstream for transaction activities. This study empirically investigates the effects of FinTech on consumer non-cash payment satisfaction, and the moderating role of financial knowledge is examined as well. Utilizing the data from the China Household Finance Survey in 2017, the results indicate that the use of FinTech can significantly promote consumer satisfaction towards non-cash payment. The mechanism analysis specific to the moderating role also shows that financial knowledge positively contributes to the impacts of FinTech on consumer non-cash payment satisfaction. The findings of this study imply that financial service providers are recommended to promote their facilities to meet consumers’ increasing demand for financial services. Besides, consumers should also take the initiative to improve their financial knowledge to better integrate non-cash payment into life and enjoy the satisfaction brought by FinTech.

Increasing the share of non–cash payments and settlements in the Kyrgyz Republic

The paper considers the payment system of the Kyrgyz Republic in the light of integration into the EAEU. The development of non–cash payment markets in the EAEU member states differs significantly. The level of development of the payment system in Kyrgyzstan is not high; significantly higher levels of this branch development in the union are noted in Russia and Kazakhstan.

The Effects of Non-Cash Transactions on Consumer Satisfaction (A Case Study on Consumers of the Oro-Oro Dowo Market, Malang)

The Internet of think is considered incredibly adaptable in the present digital world, one of which is non-cash payments, making it easier, faster, and decreasing human errors. It is not surprising that the government is now promoting Gerakan Nasional Non-Tunai (GNNT) program by ratifying a new application owned by one of the BUMN subsidiaries to enable payment transactions. The GNNT is now being encouraged in many sectors of Indonesian needs, including traditional markets. The objectives of this study were: 1) identifying the consumer characteristics who uses non-cash payment applications in Oro-Oro Dowo market Malang, and 2) investigating the impact of service quality, product image, and promotion on consumer satisfaction as non-cash payment application users. The research site was in Oro-Oro Dowo market, Malang. It is the first traditional market to employ non-cash payments as a payment option, with the research period beginning in April 2020. This study had 100 participants selected through the distribution of questionnaires. The data analysis employed Partial Least Squares-Structural Equation Modeling. The findings showed that the majority of respondents who use non-cash applications were female consumers (76%), had an average age of 20-25 years (47%), had undergraduate education (46%), worked as private employee (37%), and had an average income of < Rp2.000.000 (37%). The path coefficient test revealed that product image and promotion variables had a significant effect on consumer satisfaction as they had a sig value of > 0.05 while the application service variable had a sig value greater than 0.05, it had a negligible effect on consumer satisfaction.

ELECTRONIC PAYMENT AND ECONOMIC GROWTH IN INDONESIA

The purpose of this study is to investigate the effect of non-cash payment transactions on economic growth in Indonesia and to see the responses from supporting variables, such as the velocity of money and the price of transactions. This study involves a Vector Error Correction Model (VECM) analysis tool, using monthly time series data during 2009: 1 – 2017: 12. The results show that the payment instrument affects economic growth, especially the Card-Based Payment Instrument (CBPI). In addition, there are changes to the velocity of money and prices caused by the increase in the use of non-cash payment instruments. Keywords: Electronic Payment, Economic Growth, Vector Error Correction Model (VECM)JEL: E4; C51