THE IMPACT OF DIGITAL FINANCIAL LITERACY ON CONSUMER PROTECTION, INVESTOR SECURITY, AND FINANCIAL TRANSACTIONS IN INDONESIA
DOI:
https://doi.org/10.53840/ijiefer165Keywords:
Impact, Digital Financial Literacy, Consumer Protection, Investor Security, Financial TransactionAbstract
This study examines the influence of digital financial literacy on consumer protection, investor security, and financial transactions in Indonesia. As digital financial services rapidly expand across the country, understanding the level of financial literacy among consumers becomes crucial. This study explores how adequate digital financial literacy enhances consumer protection by empowering individuals to make informed financial decisions and protect themselves against potential risks. Moreover, it investigates the correlation between digital financial literacy and investor security, highlighting the role of education in mitigating investment-related vulnerabilities. Furthermore, this study analyzes the impact of digital financial literacy on the efficiency and safety of financial transactions, emphasizing the importance of education in promoting secure and efficient financial practices. The findings underscore the need for targeted educational programs and policy initiatives aimed at improving digital financial literacy to foster a more secure and resilient financial ecosystem in Indonesia.
Downloads
References
Anakpo, G., Xhate, Z., & Mishi, S. (2023). The policies, practices, and challenges of digital financial inclusion for sustainable development: The Case of the Developing Economy. FinTech, 2(2), 327–343. https://doi.org/10.3390/FinTech2020019
Bakar, N. M. A., Yasin, N. M., Razali, S. S., & Teong, N. S. (2019). The role of financial regulator in protecting bank consumers from unfair contract terms: The Case of Malaysian Islamic Banks. Emerging Issues in Islamic Finance Law and Practice in Malaysia, 91–115. https://doi.org/10.1108/978-1-78973-545-120191012
Biancone, P. Pietro, Saiti, B., Petricean, D., & Chmet, F. (2020). The bibliometric analysis of Islamic banking and finance. Journal of Islamic Accounting and Business Research, 11(9), 2069–2086. https://doi.org/10.1108/JIABR-08-2020-0235
Hasan, Z. (2020). The impact of covid-19 on Islamic banking in Indonesia During the pandemic era. Journal of Entrepreneurship and Business, 8(2), 19–32. https://doi.org/10.17687/jeb.0802.03
Hasan, Z. (2022). Prospect of Islamic electronic money in Indonesia : Case Study on the LinkAja Application. Jurnal Ekonomi Syariah Indonesia, XII(1), 1–13.
Hasan, Z., Rosiana, M., & Putri, N. (2021). Islamic banking in Indonesia and globalization in era 4 . 0. Management Research Journal, 10(2), 103–111.
Ishak, M. S. I., & Rahman, M. H. (2021). Equity-based Islamic crowdfunding in Malaysia: a potential application for mudharabah. Qualitative Research in Financial Markets, 13(2), 183–198. https://doi.org/10.1108/QRFM-03-2020-0024
Khan, A. G. (2016). Electronic Commerce: A study on benefits and challenges in an emerging economy. Type: Double Blind Peer Reviewed International Research Journal Publisher: Global Journals Inc, 16(1).
Koskelainen, T., Kalmi, P., Scornavacca, E., & Vartiainen, T. (2023). Financial literacy in the digital age—A research agenda. Journal of Consumer Affairs, 57(1), 507–528. https://doi.org/10.1111/joca.12510
Kraus, S., Jones, P., Kailer, N., Weinmann, A., Chaparro-Banegas, N., & Roig-Tierno, N. (2021). Digital transformation: an overview of the current state of the art of research. SAGE Open, 11(3), 1–15. https://doi.org/10.1177/21582440211047576
Mavlutova, I., Volkova, T., Natrins, A., Spilbergs, A., Arefjevs, I., & Miahkykh, I. (2020). Financial sector transformation in the era of digitalization. Estudios de Economia Aplicada, 38(4). https://doi.org/10.25115/EEA.V38I4.4055
Nurcahyo, R., Prabuwono, A. S., Fainusa, A. F., Wibowo, N., Habiburrahman, M., & Hindriyandhito, K. (2023). Enhancing User Satisfaction in Indonesia’s e-wallet Market: A Comprehensive Analysis of Factors and Priorities. Human Behavior and Emerging Technologies, 2023, 1–19. https://doi.org/10.1155/2023/8864865
Ozili, P. K. (2021). Financial inclusion and legal system quality: are they correlated? Journal of Money and Business, 1(2), 84–101. https://doi.org/10.1108/jmb-10-2021-0041
Personal, M., & Archive, R. (2018). Qualitative Research Methodology in Social Sciences and Related Subjects. Journal of Economic Development, Environment and People, 7(85654), 23–48.
Rahayu, I., & Prasetyatama, G. (2021). Determinants of the intention to continue using e–wallet during the covid–19 pandemic. Journal of Contemporary Accounting, 3(2), 53–63. https://doi.org/10.20885/jca.vol3.iss2.art1
Rusydiana, A. S., Rahmawati, R., & Shafitranata, S. (2021). DEA on Islamic Banking: A Bibliometric Study and Critical Perspective. Library Philosophy and Practice, May.
Soemitra, A., Irawan, D., & Fitrah, R. (2021). Electronic money in Islamic View: Literature Study. International Journal of Engineering Technology Research & Management, 05(08), 58–67.
Takidah, E., & Kassim, S. (2021). Determinants of Islamic financial inclusion in Indonesia : A demand-side analysis. Journal of Islamic Finance, 10(2), 38–52.
Widyastuti, U., Respati, D. K., Dewi, V. I., & Soma, A. M. (2024). The nexus of digital financial inclusion, digital financial literacy and demographic factors: lesson from Indonesia. Cogent Business and Management, 11(1). https://doi.org/10.1080/23311975.2024.2322778
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Zulfikar Hasan

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.







