Dynamic cross-border payment preferences: A qualitative study of Indonesian expatriates in Thailand and Malaysia
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Author(s)Pandu KurniawanLink to ORCID Index: https://orcid.org/0009-0007-8795-3240
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Didi AchjariLink to ORCID Index: https://orcid.org/0000-0002-4514-6789
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DOIhttp://dx.doi.org/10.21511/bbs.19(2).2024.09
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Article InfoVolume 19 2024, Issue #2, pp. 115-125
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114 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
Along with the development of global digitalization, international financial transactions are also advancing. In response, Indonesia (Bank Indonesia) collaborated with Malaysia and Thailand by launching Local Currency Settlement (LCS) integrated with Quick Response (QR) codes to reduce the use of dollars in cross-border transactions. Therefore, this study aims to investigate the Indonesian customer (Indonesian expatriates) preferences for payment methods provided by Bank Indonesia, specifically in the context of facilitating cross-border transactions. The number of research participants was 50 Indonesian expatriates (36 in Thailand, 14 in Malaysia), who were purposefully selected based on the criteria of being Indonesian traveling, studying, or residing in Thailand and Malaysia while maintaining Indonesian bank accounts. To identify these preferences, this study uses qualitative research using the Analytic Hierarchy Process (AHP) method. Based on the Hierarchical analysis, the results show that the main alternatives in payment method preference in Thailand and Malaysia show that Visa is still the most dominant in cross-border transactions. Across hierarchical criteria, including trust, speed, usability, installment flexibility, timing, and offering interest-free installment plans, Visa consistently outperformed QR Codes and Cash. Nonetheless, it is essential to highlight that QR Codes scored the highest in the criteria of Ease of Use in Malaysia. While in Thailand, QR codes achieved the highest score in terms of cost-effectiveness.
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JEL Classification (Paper profile tab)E42, E58
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References37
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Tables3
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Figures1
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- Figure 1. Research framework
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- Table 1. Research participant demographic payment method preference in Thailand and Malaysia
- Table 2. Hierarchical analysis of payment method alternatives in Thailand
- Table 3. Hierarchical analysis of payment method alternatives in Malaysia
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Critical challenges affecting Islamic banking growth in India using Analytical Hierarchy Process (AHP)
Mosab I. Tabash
doi: http://dx.doi.org/10.21511/bbs.12(3).2017.02
Banks and Bank Systems Volume 12, 2017 Issue #3 pp. 27-34 Views: 1140 Downloads: 1601 TO CITE АНОТАЦІЯThe banking sector plays a vital role in growth-supporting factor for economic growth in the world’s fastest-growing economies like India. Recently, Islamic banking has become an increasingly popular method for alleviating poverty, financial inclusion and economic development around the world. Its importance is highly needed in developing and emerging countries such as India. The main purpose of the paper is to identify and prioritize the critical impeding factors for Islamic banking growth in India. The study is conducted in two stages: the first stage involves investigating the current literature works regarding the challenges facing Islamic banking industry in India, while the second stage is based on identifying and prioritizing these challenges according to its importance in hindering Islamic banking growth by Analytic Hierarchy Process (AHP). AHP is a multi-criterion decision making tool for organizing and analyzing decisions, based on qualitative and quantitative measures. The results show that the regulatory environmental challenge is the most significant factor among other factors in impeding the growth of Islamic banking in India followed by lack of Islamic banking experts and scholars. The third main challenge is lack of awareness for Islamic banking instruments followed by lack of standardization and the last is lack of cooperation and coordination between Islamic banking authorities. This study is considered the first one to address empirically the challenges facing Islamic banking industry in the world and particularly in India.
