The Utilization of QRIS as a Digital Payment Innovation to Improve Operational Efficiency and Profitability of MSMEs with Digital Financial Literacy as a Moderating Variable

Abstract

This study aims to analyze the effect of the usage QRIS (Quick Response Code Indonesian Standard) as a digital payment innovation, on Operational Efficiency and Profitability of Micro, Small, and Medium Enterprises (MSMEs) with digital financial literacy as a moderating variable. In this study, free and open source data was collected through a questionnaire, administered to the MSME actors who already using QRIS as part of their payment systems and has four dimensions in the used QRIS, which are: QRIS accessibility, ease of use, speed of transaction, and security of a transaction. The results show that QRIS accessibility, ease of use, speed of transaction, and security of a transaction have a significant positive effect on both the operational efficiency and profitability of MSMEs. The results also bootstrapping supports the assertion that the digital financial literacy strengthen the positive effect QRIS usage to operational efficiency and profitability. This study conclude that the adoption of digital payment innovation can improve operational efficiency and profitability for MSMEs when improved by a decent level of financial literacy. These results add to the body of research on digital transformation in MSME sectors spread points to the importance of literacy in getting relevant use of digital financial tools