Digital Payment Adoption Research of SMEs in Emerging Countries: A Systematic Literature Review

Andika Febrianto · Ellyas C Alviano Rani Siga · Desi Maya Kristin · Muhammad Rafli Kana Pratama

6 citations0/0 files storedInternational Conference on Informatics, Multimedia, Cyber and Information System (ICIMCIS)

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Technology Adoption and User Behaviour FinTech, Crowdfunding, Digital Finance Health, Technology, Consumer Behavior

Abstract

The adoption of digital payment solutions has become increasingly important as the business landscape continues to shift towards a more digital-centric environment. SMEs are the backbone of many emerging economies, contributing significantly to employment and GDP (Gross Domestic Product) [1]. Their integration into the digital payment ecosystem not only streamlines their financial operations but also enhances their competitiveness on a global scale. This abstract underlines the factors driving digital payment adoption, including the need for financial inclusion and the increasing demand for cashless transactions. It then pivots to address the core problem [2]: the glaring disparity in digital infrastructure. The primary research interest is to explore the factors influencing the adoption of digital payment methods by these SMEs, along with the challenges and opportunities they encounter. This Systematic Literature Review (SLR) uses descriptive analysis to review the factors of digital payment adoption in SMEs. Based on a search for the keyword Digital Payment Adoption of SMEs via Google Scholar yielded 2,650 studies on March 24, 2023. The search results found 88 articles. After eliminating and analyzing several titles and abstracts, 53 research articles were found suitable from 7 database sources. The result of this literature review is to look for factors affecting the adoption of digital payments in SMEs, including User Convenience, Digital Adoption, User Perspectives, and Organization Readiness. This result provides insight into the adoption of digital payment solutions among SMEs in emerging countries and the potential benefits that can be realized through their implementation.

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References

2020COVID-19 and e-wallet usage intention: A multigroup analysis between Indonesia and Malaysia 2022Fintech Adoption Drivers for Innovation for SMEs in Indonesia 2021The effect of digital marketing, digital finance and digital payment on finance performance of Indonesian SMEs 2020Investigating the Adoption of Digital Payment System through an Extended Technology Acceptance Model: an Insight from the Indonesian Small and Medium Enterprises 2022The Influence of E-Payment and E-Commerce Services on Supply Chain Performance: Implications of Open Innovation and Solutions for the Digitalization of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia 2021Understanding the determinants of e-wallet continuance usage intention in Malaysia 2010Facilitating the adoption of e‐payment systems: theoretical constructs and empirical analysis 2020Determinants of FinTech payment services diffusion by SMEs in Sub-Saharan Africa: evidence from Ghana

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