Consumer Legal Protection Principles of Billing Mechanism by Digital Financial Service Provider: a Prescriptive Fintech Law Study in Indonesia

Abstract

Financial Technology or Fintech currently grows rapidly in Indonesia. The total of loan disbursement reached 155,902.55 Million IDR in the end of 2020. Alongside with it‟s development this digital tool like two blades which has negative and positive aspects. This research tries to explore the philosophy of consumer protection in online lending practices and investigate the consumer protection in the online loan collection mechanism by digital financial service providers in Indonesia. Through using some theory and literatures such as the justice theory, consumer protection, economic and law morality, digital document and supported by several primary and secondary legal materials to explain and answer the research question. The research method is the prescriptive by combining the types of doctrinal, reform-oriented, and theoretical research. The results obtained by the author found similarities between dispute resolution from the perspective of the consumer protection act with the arbitration protection law and alternative dispute resolution which both provide legal certainty to the parties