Tata Kelola Dompet Digital di Indonesia dalam Perspektif Local Institution pada Global Value Chain Digital
Keywords:
digital wallet, governance, local institutions, digital Global Value Chain, Indonesia
Abstract
The rise of digital wallets in Indonesia is a significant component of the nation's digital economic transformation and its growing involvement in global economic networks. This expansion is influenced not only by technological advancements and market dynamics but also by the influence of local institutions in regulating digital financial services. This research explores the governance of digital wallets in Indonesia through the lens of a digital Global Value Chain (GVC), concentrating on the roles of Bank Indonesia and the Financial Services Authority as domestic regulatory bodies. The study employs a qualitative analytical-descriptive method, utilizing secondary data gathered from regulatory documents, institutional reports, and pertinent academic literature. The data are examined using thematic qualitative analysis, with the digital GVC framework serving as a conceptual tool. The results reveal that the regulatory and supervisory frameworks established by Bank Indonesia and the Financial Services Authority act as governance mechanisms that facilitate Indonesia's integration into the global digital GVC. While these frameworks offer institutional certainty and create opportunities for functional advancement among local digital wallet providers, they also lead to market concentration and the potential perpetuation of hierarchical dependency within the digital GVC structure. In summary, the study underscores that the path of digital wallet development and the distribution of its economic benefits in Indonesia are heavily influenced by the design and capacity of local institutions.
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References
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Kai, M., XU, Q., Sibt e Ali, M., Bhat, M. A., Rehman, A., & Janjua, L. razzak. (2026). Digitalization and institutional quality as drivers of global value chains: evidence from ASEAN using CS-ARDL Analysis. Humanities and Social Sciences Communications. https://doi.org/10.1057/s41599-025-06421-3
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Khando, K., Islam, M. S., & Gao, S. (2023). The Emerging Technologies of Digital Payments and Associated Challenges: A Systematic Literature Review. 15(1). https://doi.org/10.3390/fi15010021
Kumoro, C. J., Ryandini, E. Y., & Samin, N. (2024). Faktor-Faktor Yang Mempengaruhi Adopsi Pembayaran QR Code (QRIS) di Toko Fisik. Journal of Innovation in Management, Accounting and Business, 3(2), 97–112. https://doi.org/10.56916/jimab.v3i2.865
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Mujito Mujito, Syamsurizal, & Noorsidi Aizuddin Bin Hj. Mat Noor. (2024). Influence of Digital Trust and Transparency on Customer Loyalty in Online Banking Services during Rapid Technological Change. Management Dynamics: International Journal of Management and Digital Sciences, 1(3), 11–20. https://doi.org/10.70062/managementdynamics.v1i3.447
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Nasser, F., & Ouerghi, F. (2024). The role of institutions in logistics performance as a new road toward GVC participation. Transnational Corporations Review, 16(4). https://doi.org/10.1016/j.tncr.2024.200092
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Sholikah, M., Wibowo, E., Sumpah Pemuda No, J., Kec Banjarsari, K., & Surakarta, K. (2025). Pengaruh Literasi Keuangan Digital, Persepsi Kemudahan dan Gaya Hidup Gen Z terhadap Minat Penggunaan E-Wallet Shopeepay (Survei pada Mahasiswa Prodi Manajamen Fakultas Ekonomi dan Bisnis Universitas Slamet Riyadi Surakarta). Jurnal Riset Manajemen Dan Ekonomi, 2, 19–41. https://doi.org/10.54066/jrime-itb.v3i2.3145
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Soliman, S., Papanastassiou, M., & Saka-Helmhout, A. (2023). The role of subsidiaries in Global Value Chains (GVCs): An institutional voids perspective on LVC upgrading and integration. Journal of International Management, 29(2). https://doi.org/10.1016/j.intman.2022.101003
Statista. (2025, November). Number of mobile wallet users in Indonesia from 2020 to 2023, with forecasts until 2028. Statista. https://www.statista.com/statistics/1327354/indonesia-mobile-wallet-users/
Sudiarto, H., Kosasih, J. I., & Arjaya, I. M. (2023). Regulation of Wechat Pay and Alipay Electronic Money Transactions in the Perspective of Indonesian State Sovereignty. INTERNATIONAL JOURNAL OF MULTIDISCIPLINARY RESEARCH AND ANALYSIS, 6(5). https://doi.org/10.47191/ijmra/v6-i5-01
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Amelia, R. V., Renie, E., Yustiloviani, Y., & Alfiander, D. (2022). PERLINDUNGAN HUKUM TERHADAP PENGGUNA E-WALLET DALAM SISTEM PEMBAYARAN DIGITAL DI INDONESIA. JISRAH: Jurnal Integrasi Ilmu Syariah, 4(3), 361. https://doi.org/10.31958/jisrah.v4i3.11741
Amendolagine, V., Presbitero, A. F., Rabellotti, R., & Sanfilippo, M. (2019). Local sourcing in developing countries: The role of foreign direct investments and global value chains. World Development, 113, 73–88. https://doi.org/10.1016/j.worlddev.2018.08.010
Ashri, A. F. (2025, January). Penggunaan Dompet Digital Indonesia Terbesar pada 2025, Apa yang Harus Diantisipasi? Kompas . https://www.kompas.id/artikel/penggunaan-e-wallet-indonesia-terbesar-pada-2025-apa-yang-harus-diantisipasi
Bank Indonesia. (2026, January 22). BI Perkuat Struktur Industri Sistem Pembayaran Untuk Mewujudkan Ekonomi Digital Yang Andal. Bank Indonesia. https://www.bi.go.id/id/publikasi/ruang-media/news-release/Pages/sp_281626.aspx
Barbero, J., & Crespo, E. R. (2020). The Role of Institutional Quality on Participation in Global Value Chains. Cuadernos Economicos de ICE, 2020(100), 35–57. https://doi.org/10.32796/cice.2020.100.7117
Beheri, T., Simbawa, H., & Husain, M. K. (2024). Consumer Trust in Digital Payment Systems. In Journal of Information Systems Engineering and Management (Vol. 2025, Issue 42s). https://www.jisem-journal.com/
Christian, R., Az Zam Zami, A., Finda, N., Mahmud, S., & Sari Dewi, R. (2025). CONSUMER PROTECTION IN DIGITAL PAYMENT TRANSACTIONS AND FINTECH CREDIT: RISK ANALYSIS AND REGULATION.
De Marchi, V., & Alford, M. (2022). State policies and upgrading in global value chains: A systematic literature review. Journal of International Business Policy, 5(1), 88–111. https://doi.org/10.1057/s42214-021-00107-8
Dharma, A., Sekolah, N., Ilmu, T., & Wiyatamandala, E. (2020). An Overview of the Development Electronic Wallet in Encouraging Economic Growth in the Indonesian Territory (Vol. 18, Issue 2). www.bi.go.id
Maria, E., Micelli, S., Menesello, L., & Brocca, S. (2022). GVC-Oriented Policies and Urban Manufacturing: The Role of Cities in Global Value Chains. Sustainability (Switzerland), 14(1). https://doi.org/10.3390/su14010478
Fatorachian, H., O’Higgins, B., Maldonado, A., Lyons, C., Willis, H., Abbott, L., & Brooks, M. (2025). Navigating the challenges of FinTech startups in the B2C market. Cogent Business and Management, 12(1). https://doi.org/10.1080/23311975.2024.2446696
Ferdyan Putri, Z. Q., & Efawati, Y. (2025). Exploring the Impact of Customer Data Security on Consumer Trust in Gojek’s Digital Services. International Journal Administration, Business & Organization, 6(1), 136–145. https://doi.org/10.61242/ijabo.25.332
Fintechnews. (2026, January). 5 Top E-Wallets in Indonesia and What They’re Best For (2026). Fintechnews. https://fintechnews.id/top-e-wallets-in-indonesia-best-for/
Firmansyah, R., & Putra, C. (2023). The Influence of Ease of Use, Usefulness, Trust, Attitude on Intention in Small, Micro and Medium Enterprises in Tangerang. JSSBS (Journal of Social Sciences and Business Studies), 1(4), 123–127. http://gemapublisher.com/index.php/jssbs
Galang, J., & Ramdhan, H. (2022). Analysis of the Acceptance Level of E-Wallet as a Non-cash Payment Method among Indonesian Students. IAIC Transactions on Sustainable Digital Innovation (ITSDI), 5. http://aptikom-journal.id/index.php/itsdi/article/view/611
Go, R. Y., Aini, N., Mutiarani, T., Yolanda, R. O., & Sarbinny, N. (2025). The Role of Digital Payment Technology in Improving Retail Operational Efficiency: A Review. KERNEL: Jurnal Riset Inovasi Bidang Informatika Dan Pendidikan Informatika, 6(1), 43–51. https://doi.org/10.31284/j.kernel.2025.v6i1.7774
Gusti, G. P., & da, H. (2023). DIGITAL COMMERCE TRANSFORMATION: A STUDY ON THE IMPACT OF E-MONEY, E-WALLET, AND E-COMMERCE USE ON CONSUMER AND FINANCIAL BEHAVIOR. Malaysian E Commerce Journal, 7(1), 50–53. https://doi.org/10.26480/mecj.01.2023.50.53
Hadi, K. S. (2022). FAKTOR KEMAJUAN TEKNOLOGI DAN SUMBER DAYA MANUSIA TERHADAP PENINGKATAN PENDAPATAN UMKM ERA REVOLUSI 4.0. Ikatan Penulis Mahasiswa Hukum Indonesia Law Journal, 9(1). https://doi.org/10.33366/ref.v9i2.2758
Hong, J., & Zhou, C. (2020). Influence of local institutional profile on global value chain participation: An emerging market perspective. Chinese Management Studies, 14(3).
Hong, J., Zhou, C., & Wang, R. (2020). Influence of local institutional profile on global value chain participation: An emerging market perspective. Chinese Management Studies, 14(3), 715–735. https://doi.org/10.1108/CMS-09-2019-0319
Husain, N. (2024). PERAN OTORITAS JASA KEUANGAN (OJK) DALAM MENGATASI KEJAHATAN DIGITAL STUDI KASUS KEBOCORAN DATA PADA BANK SYARIAH INDONESIA. Jurnal Ganec Swara, 19. http://journal.unmasmataram.ac.id/index.php/GARA
Johan, E. S. (2025). Peran Otoritas Jasa Keuangan terhadap Perlindungan Keamanan dan Kerahasiaan Data Pribadi Nasabah Pada Produk Perbankan di Era Digital. MAHALINI:Journal of Business Law, 3(1).
Kai, M., XU, Q., Sibt e Ali, M., Bhat, M. A., Rehman, A., & Janjua, L. razzak. (2026). Digitalization and institutional quality as drivers of global value chains: evidence from ASEAN using CS-ARDL Analysis. Humanities and Social Sciences Communications. https://doi.org/10.1057/s41599-025-06421-3
Khaerunnisa, R. (2025, December 24). Mitigasi risiko pembiayaan digital, OJK rilis aturan soal “paylater.” ANTARA NEWS. https://www.antaranews.com/berita/5320627/mitigasi-risiko-pembiayaan-digital-ojk-rilis-aturan-soal-paylater/?utm_source=chatgpt.com
Khando, K., Islam, M. S., & Gao, S. (2023). The Emerging Technologies of Digital Payments and Associated Challenges: A Systematic Literature Review. 15(1). https://doi.org/10.3390/fi15010021
Kumoro, C. J., Ryandini, E. Y., & Samin, N. (2024). Faktor-Faktor Yang Mempengaruhi Adopsi Pembayaran QR Code (QRIS) di Toko Fisik. Journal of Innovation in Management, Accounting and Business, 3(2), 97–112. https://doi.org/10.56916/jimab.v3i2.865
Laksamana, R. (2024). Wallet Digital Cross-Generation in the Acceleration of Digital Economic Transformation. Jurnal Ilmiah Ekonomi Islam, 10(1), 925. https://doi.org/10.29040/jiei.v10i1.11672
Maslahah, & Sulistiawati. (2024). Pentingnya Regulasi dalam Mendukung Transformasi Digital di Industri Keuangan (Fintech). SANTRI : Jurnal Ekonomi Dan Keuangan Islam, 2(6), 315–327. https://doi.org/10.61132/santri.v2i6.1144
Muhamad, N. (2023, June). E-Wallets: Indonesia’s Most Popular Digital Payment Method for Online Shopping. Katadata. https://databoks.katadata.co.id/en/technology-telecommunications/statistics/5ec97fa4c38fa8b/e-wallets-indonesias-most-popular-digital-payment-method-for-online-shopping
Mujito Mujito, Syamsurizal, & Noorsidi Aizuddin Bin Hj. Mat Noor. (2024). Influence of Digital Trust and Transparency on Customer Loyalty in Online Banking Services during Rapid Technological Change. Management Dynamics: International Journal of Management and Digital Sciences, 1(3), 11–20. https://doi.org/10.70062/managementdynamics.v1i3.447
Nadeem, M., Jun, Y., Niazi, M., Tian, Y., & Subhan, S. (2021). Paths of economic development: a global evidence for the mediating role of institutions for participation in global value chains. Economic Research-Ekonomska Istrazivanja , 34(1), 687–708. https://doi.org/10.1080/1331677X.2020.1804426
Nasser, F., & Ouerghi, F. (2024). The role of institutions in logistics performance as a new road toward GVC participation. Transnational Corporations Review, 16(4). https://doi.org/10.1016/j.tncr.2024.200092
Nathanael, B. S., Ridorti, A., Fitriadi, D., & Sari, D. (2025). Peran Otoritas Jasa Keuangan (OJK) dalam Mengawasi dan Mengatur Implementasi Danantara. Eksis: Jurnal Ilmiah Ekonomi Dan Bisnis, 16(1), 42. https://doi.org/10.33087/eksis.v16i1.498
Oluka, A. (2024). The Impact of Digital Platforms on Traditional Market Structures. Economic of Enterprise: Economics and Management of Enterprise.
Pahlevi, R. (2022, March). Pasar E-Wallet Indonesia Diproyeksikan Capai US$70 Miliar pada 2025. Katadata. https://databoks.katadata.co.id/ekonomi-makro/statistik/699ccd21d4e8aa6/pasar-e-wallet-indonesia-diproyeksikan-capai-us70-miliar-pada-2025#:~:text=Pasar%20E%2DWallet%20Indonesia%20Diproyeksikan%20Capai%20US$70%20Miliar%20pada%202025
Peraturan Bank Indonesia Nomor 10 Tahun 2025 Tentang Pengaturan Industri Sistem Pembayaran (PBI PISP), Bank Indonesia (2025). https://www.bi.go.id/id/publikasi/peraturan/Pages/PBI_102025.aspx
Peraturan Bank Indonesia Nomor 18/40/PBI/2016, Bank Indonesia (2016).
Sandbukt, S. (2022). Circuit Board Money: An Infrastructural Perspective on Digital Payments: Finance. In The Palgrave Handbook of the Anthropology of Technology (pp. 757–775). Springer Nature. https://doi.org/10.1007/978-981-16-7084-8_39
Sholikah, M., Wibowo, E., Sumpah Pemuda No, J., Kec Banjarsari, K., & Surakarta, K. (2025). Pengaruh Literasi Keuangan Digital, Persepsi Kemudahan dan Gaya Hidup Gen Z terhadap Minat Penggunaan E-Wallet Shopeepay (Survei pada Mahasiswa Prodi Manajamen Fakultas Ekonomi dan Bisnis Universitas Slamet Riyadi Surakarta). Jurnal Riset Manajemen Dan Ekonomi, 2, 19–41. https://doi.org/10.54066/jrime-itb.v3i2.3145
Silalahi, A., & Hermansyah, E. O. (2025). Peran Ojk Dikaitkan Penanggulangan Pinjaman Online Berbasis Teknologi (Fintech) Illegal. 11(2), 277–294. https://doi.org/10.31599/sasana.v11i2.4650
Soliman, S., Papanastassiou, M., & Saka-Helmhout, A. (2023). The role of subsidiaries in Global Value Chains (GVCs): An institutional voids perspective on LVC upgrading and integration. Journal of International Management, 29(2). https://doi.org/10.1016/j.intman.2022.101003
Statista. (2025, November). Number of mobile wallet users in Indonesia from 2020 to 2023, with forecasts until 2028. Statista. https://www.statista.com/statistics/1327354/indonesia-mobile-wallet-users/
Sudiarto, H., Kosasih, J. I., & Arjaya, I. M. (2023). Regulation of Wechat Pay and Alipay Electronic Money Transactions in the Perspective of Indonesian State Sovereignty. INTERNATIONAL JOURNAL OF MULTIDISCIPLINARY RESEARCH AND ANALYSIS, 6(5). https://doi.org/10.47191/ijmra/v6-i5-01
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Published
2025-12-31
How to Cite
Maghfiroh, M., & Kusuma, A. (2025). Tata Kelola Dompet Digital di Indonesia dalam Perspektif Local Institution pada Global Value Chain Digital. Madani Jurnal Politik Dan Sosial Kemasyarakatan, 17(03), 389-408. Retrieved from https://e-jurnal.unisda.ac.id/index.php/MADANI/article/view/12357
Section
Articles
