Analysis of Payment System Factors towards the Intention of Fintech Payment: A Case study of OVO Customer in Indonesia

Abstract

Payment Financial Technology (FinTech) has rapidly developed in Indonesia. In this case, Payment FinTech enables people to perform the transaction comfortably, such as for electricity bill payment, food ordering, and purchasing the game accessories. However, FinTech payment emerges the issues to the customer as well. In this part, several problems are encountered by Fintech payment system. In this background, the payment system in Indonesia is regulated by the central bank. Technically, the payment must comply with the four principles of payment system such as secure, effective, fairness, and customer protection. Therefore, this quantitative research explores the four principles of payment system towards the intention of the FinTech payment system, especially for OVO customers. SPSS application facilitates the process, and the linear regression technique applies to analyze the data based on the model. The process is conducted partially and simultaneously. The partial result of the research indicates the efficiency variable and fairness variable that has a significant influence on the intention of the utilization. However, the concurrent process for all variables presents a considerable result of the intention of the utilization factor. The research results significantly contribute to future improvement feedback and development in the industry.