The impact of pandemic COVID-19 on digital payment: Case study on electronic money in Indonesia
List of Authors
  • Dr. Raden Aswin Rahadi, S.T., MBA , Triaji Pambudi

Keyword
  • E-money, Electronic Payment System, Demand for Money, Covid-19

Abstract
  • This paper aims to determine the demand for e-money due to pandemic Covid-19 in Indonesia. The approach used is by analysing 12 papers related to the demand for e-money or electronic payment system due to pandemic, making synthesis from the collected papers and find the results for each related paper. This study aims to find the conceptual model for the demand for e-money due to Covid-19 in Indonesia. This study found that e-money can be affected by the money supply, electronic data capture, other non-cash payment (debit card and credit card), and the customer income. Due to the spread of covid-19, many people think that avoiding physical contact with cash and any payment methods could reduce the spread of Covid-19. In the future, the quantitative research process can be conducted in Indonesia to testify and improve this paper's conceptual model.

Reference
  • 1. Antara. (2020). OJK Pastikan Transaksi Digital Aman di Masa Pandemi. Medcom July 17. Viewed September 4, 2020 at https://www.medcom.id/ekonomi/keuangan/8N00lZ5N-ojk-pastikan-transaksi-digital-aman-di-masa-pandemi

    2. Bitrus, Yamden Pandok. (2011). The determinants of the demand for money in developed and developing countries. Journal of Economics and International Finance Vol. 3 (15), pp. 771–779

    3. Bank Indonesia. (2020). Indonesia Financial Statistics

    4. Bank Indoensia. (2020). Payment System Statistics

    5. Direktorat Akunting dan Sistem Pembayaran (DASP). (2013). Pengantar Sistem Pembayaran. Bank Indonesia. Jakarta.

    6. Gusti, Girang Permata. (2020). Is There Any Impact Of Electronic Money To Increase Knowledge Of Financial Literacy?: In The Pandemic Situation Of Covid-19 In Pontianak City. Malaysian E Commerce Journal, 4(2): 48-53.

    7. Hidayati, Siti., Nuryanti, Ida., Firmansyah, Agus., Fadly, Aulia., & Darmawan, Isnu Yuwana. 2006. Kajian Operasional E-money. Bank Indonesia. Jakarta.

    8. Insukindro. (1999). Pemilihan dan Bentuk Fungsi Ekonomi Empirik dengan Pendekatan Koreksi Kesalahan. Jurnal Ekonomi dan Bisnis Indonesia, Vol. 14 No.1.

    9. Istanto, Lasondy & Fauzie, Syarief. (2014). Analisis Dampak Pembayaran Non Tunai Terhadap Jumlah Uang Beredar Di Indonesia. Jurnal Ekonomi dan Keuangan, Vol. 2. No. 10, Hal. 610-621.

    10. Mankiw, N. Gregory. (2006). Makroekonomi Edisi Keenam. Penerbit Erlangga. Jakarta.

    11. Marshall, Michael. and Coke, Oma. 2016. A Sectoral Analysis of E-Money Consumption and Growth. Social and Economic Studies 2 & 3 Page: 69 – 98

    12. Mbuguah, Samuel. and Karume, Simon. (2013). Trends in Electronic Money Transfer in Kenya. Journal of Emerging Trends in Computing and Information Sciences, Vol. 4, No. 1

    13. Miftahudin, H. (2020). BI: Pembayaran Digital Naik 65% Selama Pandemi. Medcom, July 7, Viewed September 4, 2020 at https://www.medcom.id/ekonomi/ekonomi-digital/4KZRrOgK-bi-pembayaran-digital-naik-65-selama-pandemi

    14. Mohannad, A. D., Constantinovits, M., Arqawi, S., & Daragmeh, A. (2021). The role of Fintech in predicting the spread of COVID-19. Banks and Bank Systems, 16 2021(1), 1-16. http://dx.doi.org/10.21511/bbs.16(1).2021.01

    15. Moore, M. (2020). Internet penetration in Southeast Asia 2020, by country. Statista, July 23, Viewed September 20, 2020 at https://www.statista.com/statistics/487965/internet-penetration-in-southeast-asian-countries/

    16. Pantelimon, F., Georgescu, T., & Posedaru, B. (2020). The Impact of Mobile e-Commerce on GDP: A Comparative Analysis between Romania and Germany and how Covid-19 Influences the e-Commerce Activity Worldwide. Informatica Economica, 24(2), 27-41. http://dx.doi.org/10.24818/issn14531305/24.2.2020.03

    17. Pramono, Bambang, dkk. (2006). Dampak Pembayaran Non Tunai terhadap Perekonomian dan Kebijakan Moneter. Bank Indonesia Working Paper No. 11

    18. Pratiwi, Nur Fitri. (2015). Pengaruh Persepsi Kemudahan dan Persepsi Kemanfaatan Terhadap Minat Konsumen Menggunakan Kartu BRIZZI PT. Bank Rakyat Indonesia (PERSERO), Tbk Makasar. Skripsi. Jurusan Manajemen Universitas Hasanuddin. Makasar.

    19. Prinz, Aloys. (1999). Money In The Real And The Virtual World: E-Money, C-Money And The Demand For Cb-Money. Netnomics: Economic Research and Electronic Networking 11 – 35.

    20. Ramdhani, G. (2020). Tren Transaksi Digital di Masa Pandemi, ShopeePay Cetak Perkembangan Paling Pesat. Liputan6. August 10. Viewed September 4, 2020 at: https://www.liputan6.com/bisnis/read/4325564/tren-transaksi-digital-di-masa-pandemi-shopeepay-cetak-perkembangan-paling-pesat

    21. Sukirno, Sadono. (2009). Mikroekonomi Teori Pengantar Edisi Ketiga. PT RajaGrafindo Persada. Jakarta.

    22. Sumolang, Richard Matias. (2015). Analisis Permintaan Uang Elektronik (E-Money) di Indonesia. Skripsi. Jurusan Ilmu Ekonomi Universitas Hasanuddin. Makasar. Viewed October 27, 2020 at https://docplayer.info/45730674-Skripsi-analisis-permintaan-uang-elektronik-e-money-di-indonesia.html