E-Money And Its Potential To Change The Role Of Cash In The Payment System: Opportunities And Challenges

Abstract

The purpose of this study is to determine how the opportunities and challenges of e-money and its potential in changing the role of cash in the payment system. This research is a descriptive qualitative research. data collection is obtained from secondary sources. Secondary sources are obtained from a review of books, journals, scientific articles, and other documents reinforced by several opinions from several researchers' previous research results or literature reviews. The findings of this study indicate that e-money users have a positive opportunity as a means of payment. The use of e-money can provide opportunities for the growth of MSMEs which have an impact on national economic growth, as well as having a positive impact on issuing institutions and the government with its various policies. Besides, there are various challenges in using e-money as a means of payment. Not all businesses can support and accept payment transactions through e-money due to business concepts that must be unique and flexible in responding to maintenance and maintenance activities, as well as challenges from the community itself that the payment system using electronic money is still somewhat primitive and does not support all phases of the system.