Trend of Using A Digital Wallet

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Trend of Using A Digital Wallet. The trend of online shopping has been developing rapidly in the community. Many online shops provide convenience for the community. people don’t much time to looking for items that are difficult to find or even have to take time just to leave the house visiting the store. Start  from clothing, food, jewelry, make-up tools, accessories, textbooks, novels, sports equipment, toys, and electronic goods. Everything is available on the online site. The presence of an online shop community only needs to browse the online shop and create an account. Then the public can buy anything that they want.  Start from Young people, mothers, even middle-aged now have switched online shopping. To make it easier to carry out buying and selling transactions a new innovation is born. What is popular right now is the digital wallet application, which makes it easy for someone to save money and personal data without having to worry about not having to carry a physical wallet.

Digital Wallet

Digital wallet is emulations of an actual wallet. Digital wallet is a practical wallet using technological sophistication. People don’t need to bother carrying traditional wallets anymore. Digital wallet  available features for storing personal, and financial information. Such as identity, credit cards, passwords, PINs, and other account numbers .

In this system where some money is stored electronically in a media server or chip by exchanging cash at the bank. Then the money can be used to pay online and the money saved will decrease by itself according to the amount spent. If the money used is up we can do Top-Up or refill it. This digital wallet is made to make it easier for users to carry out e-commerce transactions. Users only need to enter information once and can be used on several online sites to make transactions. In this service users only need to create 1 account in the form of an identity and password as a security, then the account can support multiple sites. So that it can be used to make online purchases quickly using a digital wallet.

Currently in Indonesia, there are also companies that provide digital wallet facilities including Go-Pay, OVO, Funds, and Doku. In accordance with the regulations set by Bank Indonesia Article 20 paragraph 2:

Meeting the certification and / or system safety and reliability standards meets the principles of:

 1. Data confidentiality (confidentiality)

 2. System and data integrity (integrity)

3.  System and data authentication (authentication)

4. Prevention of the occurrence of denial of transactions that have been made (non-repudiation); and

5. System availability (availability).

Advantages of Digital Wallet

1. Can send money anytime and anywhere

Customers can make transactions whenever he wants. In other words the customer no longer needs to go to the ATM center to make transactions

2. Don’t bother carrying a physical wallet

No worry if the wallet left at home. Simply use your smartphone.

3. Ease and effectiveness when making transactions

4. Can control activities

5. Ease of TOP-UP

You can TOP-UP  when your money decreased

6. Reducing the risk of theft directly

7. You can do transactions in various options such as online shopping, food and personal items

8. Travel transactions, for example Go-jek

9. Save time

10. Many discounts are offered

The benefits offered are attractive for people to use digital wallets. According to a survey conducted by FT Confidential Research, digital wallet is the fourth most popular non-cash payment service in Indonesia. Around 28% of respondents use digital wallets. This vote consists of DOKU Wallet, BCA klikpay, T-cash, OVO and the most is Go-Pay.

The conveniences offered by digital wallet are numerous and profitable. However, there are also vulnerabilities that must be considered when we utilize this technology. Because along with the rapid development of technological sophistication many also use it for negative things. The threats that could occur in a digital wallet.

1. Phishing

A fraud that can be done by a company to retrieve user information. In this case the user might be tricked through messages sent by the company via email to invite into a site and log in. then the user is instructed to fill in the data needed so that in the end they reveal the information sought, not just the name and even credit card numbers can be obtained. Of course this is very dangerous.

2. Hacking Data theft is done by hackers. A hacker is someone who has the technological expertise he has to do negative things. Hackers will exploit it through

weakness of the network security system / software. The activity carried out by a hacker is very dangerous including hijacking other people’s accounts, intercepting communications, even spreading viruses. This user data can be retrieved. The danger is that this information can be sold to unauthorized parties. The DoS attack is the Denial of Service. This attack can attack the system so that the system cannot provide services. Such attacks can inhibit the activity of users currently using it. 

3. Malware

A program designed to infiltrate a system such as a digital wallet. Attackers will be directed into fake websites or insecure networks. This program will store a history of activities that we do and sent to a file. Thus, malware can damage the system.

4. Man-in the-Middle

Weak network security such as a lack of firewalls can trigger man-in the middle attacks where an attacker can do wiretapping. Likewise in a digital wallet the attacker could have tapped when the user sent a nominal amount of money, but not according to what was sent, because during the sending process the message was changed by the attacker.

5. Sniffer Package

This crime is committed by creating a program that can retrieve data / files when the user is logged in. The process can be done quickly. Weak systems that are not equipped with an encryption process will become an opportunity by the perpetrators.

6. Denial

Denial is one of the risks that must be considered. Denial can occur, because the transaction through digitalization (not visible) can be the parties who are not responsible do not recognize that he had made a transaction and misuse the system.

7. Transaction Error

Transaction errors are failures when making payments, this can be caused by system errors or a weak network. This event will cause user concern whether the money sent was actually sent or not. Trend of Using A Digital Wallet.

Source :

Upadhayaya, A. (2012). Electronic Commerce and E-wallet. International Journal of Recent Research and Review, Vol. I, March 2012. 

A. Priyono, “Analisis pengaruh trust dan risk dalam penerimaan teknologi dompet digital Go-pay,” jurnal siasat bisnis , vol. 21, 2017.

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