Strengthening the Islamic Digital Payment System Through Sharia Electronic Wallet (E-Wallet)

Bella, Firsty Izzata; Efendi, Nadya Fira

doi:10.18860/ed.v9i2.11451

Cited by 6 publications

(3 citation statements)

References 15 publications

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“…The pursuit of Sharia digital payments has prompted the National Sharia Economy and Finance Committee (KNEKS) to orchestrate discussions with key stakeholders including Bank Mandiri Syariah, BNI Syariah, BRI Syariah, BTN Syariah, and PT Finarya -the entity overseeing LinkAja, a state-owned enterprise's digital payment system. This collaborative effort envisions the development of a Sharia-compliant digital payment application, fortified by Sharia Banks serving as Custodian Banks [22]. This symbiotic alliance not only augments Islamic financial services but also bolsters the growth of a halal lifestyle within Indonesian society.…”

Section: The Prospects and Challenges Of Sharia Digital Economy Innov...mentioning

confidence: 99%

Addressing Cybercrime in the Sharia Digital Wallet Industry: A Legal Perspective in the Indonesian Context

Hamsin,

Halim,

Anggriawan

2023

E3S Web Conf.

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The advent of Sharia digital payments in Indonesia's Islamic economics represents a transformative leap. While this innovation offers a plethora of advantages, exercising prudence is imperative, given the potential risks that overlooking certain dimensions might entail, particularly in the realms of cybercrime and data misuse. Critical focal points encompass compliance, security, and the protection of personal data. To tackle these concerns comprehensively, this paper delves into the regulatory landscape governed by the Indonesian government regarding data privacy for users of Islamic e-wallets. Moreover, it navigates through the potential pitfalls and challenges associated with Islamic digital payments, with a spotlight on data safeguarding and the specter of cybercrime. Employing a normative methodology encompassing statutory, case-based, and conceptual approaches, the study reveals that the utilization of Sharia e-wallets in Indonesia harmonizes with the Islamic principles expounded in the Fatwa of the National Sharia Council. The government has further fortified its stance with robust regulations for safeguarding personal data, facilitated by institutional collaboration involving Bank Indonesia and the Financial Services Authority. Nevertheless, diligent attention remains a prerequisite to guarantee the adherence of Sharia digital payment operators to the existing legal framework.

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Section: The Prospects and Challenges Of Sharia Digital Economy Innov...mentioning

confidence: 99%

Addressing Cybercrime in the Sharia Digital Wallet Industry: A Legal Perspective in the Indonesian Context

Hamsin,

Halim,

Anggriawan

2023

E3S Web Conf.

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“…Digital payments, rely on online systems, electronic devices, as well as the internet to move money safely and effectively rather than actual cash or conventional payment methods like cheques or money orders. These include credit cards, online banking, and mobile wallets (Bella and Efendi, 2021;Sultana, 2023). It is critical to address security with digital payment systems, such as data breaches, identity theft, and online fraud.…”

Section: Introductionmentioning

confidence: 99%

Reflections on promotion of digital payments among smallholder tea farmers in kanungu district

Turyatemba,

Turyasingura,

Hamed

et al. 2023

SVU-International Journal of Agricultural Sciences

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The study aimed to reflect on the promotion of digital payments among smallholder tea farmers in Kanungu District, Uganda. The study was guided by specific objectives, namely, investigating the effect of digital payments on financial deepening, assessing the effect of inflation rates on Uganda's economic literacy, determining the influence of per capita income on Uganda's economic literacy, and evaluating the effect of foreign direct investment on Uganda's economic literacy. The study used a descriptive research design utilizing a quantitative approach. The average cash payment was 3,862,241,831 before the introduction of digital payments such as mobile money and banks and after the introduction of digital systems, the cash payment decreased significantly to 3,895,754. However, after introducing digital systems, the payment of smallholder farmers increased significantly from 2,379,988,876 to 2,500,825,890 which implies that there was a huge improvement as well as an increase in the profitability rate of the factory. There was a strong significant negative relationship between digital payments and gross domestic product (-0.768). Understanding the factors that influence the adoption of digital payments can assist in identifying the obstacles that hinder some societal groups from using digital financial services. Then, specific actions can be developed by policymakers as well as financial institutions to encourage financial inclusion. The flexibility of the created models to satisfy the requirements of agricultural stakeholders and to react to their limits is crucial for the success of innovative tools in rural areas.

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“…Then the form of cashback can be replaced with points given by the seller, which can then be donated through crowdfunding platforms such as Kitabisa, Ammana, and so on. Ergo, the points awarded can also be used as sellers as a Corporate Social Responsibility program (Bella & Efendi, 2021).…”

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confidence: 99%

An Analysis of Islamic Business Ethics in E-Wallet in Indonesia with A Case Study of Go-Pay

Minarni

Asnawi

2022

J. Islam. Econ. Lariba

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This article aims to examine the E-wallet business from the perspective of Islamic Business Ethics. The reality in E-wallet transactions still raises pros and cons in terms of its validity according to the Islamic framework. This study uses a qualitative descriptive method and a phenomenological approach. The tendency of people in the industrial era 4.0 to use digital-based application services requires proper literacy for short and long term goals. The results of this study indicate that various types of E-wallet applications, one of which is Go-Pay, allegedly still contain things that are contrary to Islamic Business Ethics. This can be seen, among other things, in the provision of special discounts or free shipping for Go-Pay application users, as well as the deposition of user balances in conventional banks (ribawi banks). Contemporary scholars who argue that this transaction is permissible argue because the transaction uses a wadi'ah contract and is in the framework of paying ujrah in advance. Whereas the scholars who forbid the transaction argue that the transaction contract is qardh (debt receivable) so that if it brings out benefits in it then it is included in usury. In implementing Islamic business ethics in e-wallet cases, e-wallet users must pay attention to the validity of the contract according to Islam and the purpose of the transaction according to maslahah. As for e-wallet suppliers, they must prioritize aspects of transaction legitimacy, product halalness, honesty, responsibility and trustworthiness.

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Strengthening the Islamic Digital Payment System Through Sharia Electronic Wallet (E-Wallet)

Cited by 6 publications

References 15 publications

Addressing Cybercrime in the Sharia Digital Wallet Industry: A Legal Perspective in the Indonesian Context

Addressing Cybercrime in the Sharia Digital Wallet Industry: A Legal Perspective in the Indonesian Context

Reflections on promotion of digital payments among smallholder tea farmers in kanungu district

An Analysis of Islamic Business Ethics in E-Wallet in Indonesia with A Case Study of Go-Pay

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