“…This theory and reasoning are consistent with the empirical findings of previous research. Although some previous studies did not focus on digital finance and MSME financial behavior, several studies have shown that fintech payments have a positive effect on financial behavior (Huda & Risman, 2024;Erlangga & Krisnawati, 2020;Mukti et al, 2022), digital finance has a positive effect on transactions (Lahusa, 2023;Putri et al, 2022;Kamela et al, 2022). Therefore, the first hypothesis is as follows: H1: Digital Finance has a positive effect on financial behavior of MSMEs Although the management of MSMEs, especially MSEs, tends to be carried out by the business owners themselves, they are also managers, therefore MSME financial management can be influenced by managerial biases.…”