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Analyzing The Development of Cashless Society Using the Structural Equation Modeling

Economics Development Analysis Journal · Vol. 13 No. 4 (2025)

DOI
10.15294/edaj.v13i4.15874
ISSN
2502-2725, 2252-6560
Published
2025-03-24
Publisher
Universitas Negeri Semarang
Language
eng

Abstract

Payment systems continue to evolve alongside advancements in information technology, driving the digitization of financial services and payment instruments. This study examines the influence of Psychological, Socio-Cultural, and Personal Factors on adopting electronic money and the growth of a cashless society, with Financial Technology as a moderating variable. The research involved 1,000 Bank BNI customers in the Jabodetabek area (Jakarta, Bogor, Depok, Tangerang, and Bekasi) actively using BNI Mobile Banking services. The analytical methods employed include Discourse Network Analysis and Structural Equation Modeling to develop a comprehensive analysis model. The results indicate that psychological and personal factors—such as motivation, perception, learning, positive attitude, modern lifestyle, and openness to change—significantly influence electronic money usage. However, socio-cultural factors do not exhibit a significant impact, primarily due to persistent cash usage habits and a lack of trust in technology. This study highlights the need for financial education to promote awareness of electronic money benefits and security, develop tailored financial products, and enhance regulatory collaboration between the government and relevant institutions.

Keywords

Collaboration network of the authors

33 authors · 103 co-authorship links

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

  • University of Brawijaya
  • Universitas Halu Oleo
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Atiek IrianyUniversity of Brawijaya4
Lalu Ramzy RahmandaAffiliation unknown2
Lalu Ramzy RahmandaAffiliation unknown2
Dea Saraswati PramaningrumUniversity of Brawijaya2
Ani Budi AstutiUniversity of Brawijaya2
Fachira Haneinanda JuniantoUniversity of Brawijaya2
Rinda Lolita MelanwatiUniversity of Brawijaya1
Henny PramoedyoUniversity of Brawijaya1
Dwi Ayu LusiaUniversity of Brawijaya1
Karen SematheaAffiliation unknown1
Achmad EfendiAffiliation unknown1
Karen SematheaAffiliation unknown1
Achmad EfendiAffiliation unknown1
Hanifa SepriadiAffiliation unknown1
Adji Achmad Rinaldo FernandesAffiliation unknown1
Hanifa SepriadiUniversity of Brawijaya1
Cindy Rudiat SekarsariUniversity of Brawijaya1
Adji Achmad Rinaldo FernandesUniversity of Brawijaya1
Ni Wayan Surya WardhaniUniversity of Brawijaya1
Nabila Ayunda SoviaAffiliation unknown1
Rimba HamidUniversitas Halu Oleo1
Herni HerniAffiliation unknown1
MAULIDIYAH -Affiliation unknown1
HALIMATUSSADIYAH -Affiliation unknown1
FITRI SUSANTIAffiliation unknown1
ANSHARULLAH -Affiliation unknown1
Dahlia Gladiola Rurina MenufanduAffiliation unknown1
Rahma FitrianiAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/journals/edaj/oai, first harvested 5 Nov 2026, last seen 5 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en">Analyzing The Development of Cashless Society Using the Structural Equation Modeling</dc:title>
	<dc:creator xml:lang="en">Nurdin, Muhammad</dc:creator>
	<dc:creator xml:lang="en">Fernandes, Adji</dc:creator>
	<dc:creator xml:lang="en">Sumarminingsih, Eni</dc:creator>
	<dc:creator xml:lang="en">Solimun</dc:creator>
	<dc:creator xml:lang="en">Ullah, Muhammad</dc:creator>
	<dc:subject xml:lang="en">Cashless Society</dc:subject>
	<dc:subject xml:lang="en">Discourse Network Analysis</dc:subject>
	<dc:subject xml:lang="en">Financial Technology</dc:subject>
	<dc:subject xml:lang="en">Mobile Banking</dc:subject>
	<dc:subject xml:lang="en">Structural Equation Model</dc:subject>
	<dc:description xml:lang="en">Payment systems continue to evolve alongside advancements in information technology, driving the digitization of financial services and payment instruments. This study examines the influence of Psychological, Socio-Cultural, and Personal Factors on adopting electronic money and the growth of a cashless society, with Financial Technology as a moderating variable. The research involved 1,000 Bank BNI customers in the Jabodetabek area (Jakarta, Bogor, Depok, Tangerang, and Bekasi) actively using BNI Mobile Banking services. The analytical methods employed include Discourse Network Analysis and Structural Equation Modeling to develop a comprehensive analysis model. The results indicate that psychological and personal factors—such as motivation, perception, learning, positive attitude, modern lifestyle, and openness to change—significantly influence electronic money usage. However, socio-cultural factors do not exhibit a significant impact, primarily due to persistent cash usage habits and a lack of trust in technology. This study highlights the need for financial education to promote awareness of electronic money benefits and security, develop tailored financial products, and enhance regulatory collaboration between the government and relevant institutions.</dc:description>
	<dc:publisher xml:lang="en">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2025-03-24</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://journal.unnes.ac.id/journals/edaj/article/view/15874</dc:identifier>
	<dc:identifier>10.15294/edaj.v13i4.15874</dc:identifier>
	<dc:source xml:lang="en">Economics Development Analysis Journal; Vol. 13 No. 4 (2024): Economics Development Analysis Journal</dc:source>
	<dc:source>2502-2725</dc:source>
	<dc:source>2252-6560</dc:source>
	<dc:source>10.15294/edaj.v13i4</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/journals/edaj/article/view/15874/3339</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2025 Economics Development Analysis Journal</dc:rights>
</oai_dc:dc>