Dynamic cross-border payment preferences: A qualitative study of Indonesian expatriates in Thailand and Malaysia

Q1 Social Sciences Banks and Bank Systems Pub Date : 2024-05-20 DOI:10.21511/bbs.19(2).2024.09

Pandu Kurniawan, D. Achjari

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Abstract

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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动态跨境支付偏好：对泰国和马来西亚印尼侨民的定性研究

随着全球数字化的发展，国际金融交易也在不断进步。为此，印度尼西亚（印尼银行）与马来西亚和泰国合作，推出了与快速反应（QR）代码相结合的当地货币结算（LCS），以减少跨境交易中美元的使用。因此，本研究旨在调查印尼客户（印尼外籍人士）对印尼银行提供的支付方式的偏好，特别是在促进跨境交易方面。研究参与者为 50 名印尼外籍人士（36 名在泰国，14 名在马来西亚），他们是根据在泰国和马来西亚旅行、学习或居住的印尼人并持有印尼银行账户的标准有目的地挑选出来的。为确定这些偏好，本研究采用层次分析法（AHP）进行定性研究。基于层次分析法，研究结果显示，泰国和马来西亚的主要支付方式偏好显示，Visa 仍是跨境交易中最主要的支付方式。在包括信任度、速度、可用性、分期付款灵活性、时间以及提供免息分期付款计划在内的各种层次标准中，Visa 的表现始终优于 QR 码和现金。不过，有必要强调的是，在马来西亚，二维码在易用性标准上得分最高。而在泰国，二维码在成本效益方面得分最高。

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来源期刊

Banks and Bank Systems Social Sciences-Law

CiteScore

2.60

自引率

0.00%

发文量

审稿时长

11 weeks

期刊介绍： The journal focuses on the results of scientific researches on monetary policy issues in different countries and regions all over the world. It also analyzes the activities of international financial organizations, central banks, and bank institutions. Key topics: -Monetary Policy in Different Countries and Regions; -Monetary and Payment Systems; -International Financial Organizations and Institutions; -Monetary Policy of Central Banks; -Organizational Structure, Functions and Activities of Central Banks; -State Policy and Regulation of Banking; -Bank Competitiveness; -Banks at the Financial Markets; -Bank Associations and Conglomerates; -International Payment Systems; -Investment Banking; -Financial Risks and Risk Management in Banks; -Capital and Ownership Structure, Bankruptcy and Liquidation, Mergers and Acquisitions of Banks; -Corporate Governance and Goodwill; -Personnel Management in Banks; -Econometric, Statistical Methods; Econometric Modeling of Bank Activities; -Bank Ratings.