Online Payment: Individual Characteristics and Digital Financial Inclusion in OIC Countries

Al Hashfi, Rizqi Umar; Zusryn, Alyta Shabrina; Khoirunnisa, Novi Lailatul; Listyowati, Ammelia Rizza Fitri Ayu

doi:10.21098/jimf.v6i4.1148

Jurnal SINTA 1

Online Payment: Individual Characteristics and Digital Financial Inclusion in OIC Countries

Journal of Islamic Monetary Economics and Finance · Vol. 6 No. 4 (2020) · hlm. 767–788

DOI: 10.21098/jimf.v6i4.1148
ISSN: 2460-6618, 2460-6146
Terbit: 2020-09-15
Penerbit: Bank Indonesia
Bahasa: eng

Abstrak

Digital financial inclusion (DFI) is a prominent issue in the digital era, since it focuses on the use of technology to serve unbanked people at low cost. The adoption of mobile money platforms that allow users to make efficient peer-to-peer and real-time transactions is one aspect of the DFI agenda. This study aims to investigate the determinants of mobile money usage using data derived from the 2017 Global Financial Inclusion survey conducted by the World Bank and Gallup and applying probit regression and the Heckman selection model to check robustness. Even though access to a financial institution is relatively low, the percentage of mobile money usage in Organisation of Islamic Cooperation (OIC) countries is slightly higher than in non-OIC countries and worldwide. The rate of adoption of mobile money is higher for individuals making online transactions, with more educated and more prosperous males tending to be more included in the use of digital financial services. The U-shape hypothesis for the relationship between age and the use of mobile money is not supported. Our research contributes to the theoretical development of the Unified Theory of Acceptance and Use of Technology 2 in illustrating the use of mobile technology. The empirical results are recommended for use by practitioners, regulators and policymakers in creating and fostering a sound ecosystem for digital finance development.

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Abdul Qoyum	Afiliasi tidak diketahui	1
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Sumber metadata: OAI-PMH (metadata jurnal) http://www.jimf-bi.org/index.php/JIMF/oai, pertama di-harvest 9 Nov 2026, terakhir terlihat 9 Nov 2026.

Metadata asli (oai_dc)

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	<dc:title xml:lang="en">Online Payment: Individual Characteristics and Digital Financial Inclusion in OIC Countries</dc:title>
	<dc:creator xml:lang="en">Al Hashfi, Rizqi Umar</dc:creator>
	<dc:creator xml:lang="en">Zusryn, Alyta Shabrina</dc:creator>
	<dc:creator xml:lang="en">Khoirunnisa, Novi Lailatul</dc:creator>
	<dc:creator xml:lang="en">Listyowati, Ammelia Rizza Fitri Ayu</dc:creator>
	<dc:subject xml:lang="en">Digital Financial Inclusion</dc:subject>
	<dc:subject xml:lang="en">Mobile Money</dc:subject>
	<dc:subject xml:lang="en">Online Payment</dc:subject>
	<dc:subject xml:lang="en">OIC Countries</dc:subject>
	<dc:description xml:lang="en">Digital financial inclusion (DFI) is a prominent issue in the digital era, since it focuses on the use of technology to serve unbanked people at low cost. The adoption of mobile money platforms that allow users to make efficient peer-to-peer and real-time transactions is one aspect of the DFI agenda. This study aims to investigate the determinants of mobile money usage using data derived from the 2017 Global Financial Inclusion survey conducted by the World Bank and Gallup and applying probit regression and the Heckman selection model to check robustness. Even though access to a financial institution is relatively low, the percentage of mobile money usage in Organisation of Islamic Cooperation (OIC) countries is slightly higher than in non-OIC countries and worldwide. The rate of adoption of mobile money is higher for individuals making online transactions, with more educated and more prosperous males tending to be more included in the use of digital financial services. The U-shape hypothesis for the relationship between age and the use of mobile money is not supported. Our research contributes to the theoretical development of the Unified Theory of Acceptance and Use of Technology 2 in illustrating the use of mobile technology. The empirical results are recommended for use by practitioners, regulators and policymakers in creating and fostering a sound ecosystem for digital finance development.</dc:description>
	<dc:publisher xml:lang="en">Bank Indonesia</dc:publisher>
	<dc:date>2020-09-15</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://jimf-bi.org/JIMF/article/view/1148</dc:identifier>
	<dc:identifier>10.21098/jimf.v6i4.1148</dc:identifier>
	<dc:source xml:lang="en">Journal of Islamic Monetary Economics and Finance; Vol. 6 No. 4 (2020); 767 - 788</dc:source>
	<dc:source>2460-6618</dc:source>
	<dc:source>2460-6146</dc:source>
	<dc:source>10.21098/jimf.v6i4</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://jimf-bi.org/JIMF/article/view/1148/828</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2020 Rizqi Umar Al Hashfi, Alyta Shabrina Zusryn, Novi Lailatul Khoirunnisa, Ammelia Rizza Fitri Ayu Listyowati</dc:rights>
</oai_dc:dc>