A Comprehensive Analysis of Global Digital Payment Systems: A Systematic Literature Review (2019–2025)
DOI:
https://doi.org/10.55606/ijemr.v5i1.679Keywords:
Blockchain, Digital Payment Systems, Fintech, TAM, UTAUTAbstract
The development of information and communication technology (ICT) has significantly influenced the global financial sector. One of the most important innovations is the digital payment system, which has transformed the way people perform financial transactions—making them faster, safer, and more efficient. This study aims to identify the trends, theories, methods, and research gaps related to digital payment systems through the Systematic Literature Review (SLR) approach.Data were collected from ten international scientific articles indexed in Scopus and ScienceDirect between 2015–2025. The findings reveal that the Technology Acceptance Model (TAM) and Unified Theory of Acceptance and Use of Technology (UTAUT) are the most dominant theories explaining user adoption behavior. The main influencing factors include trust, security, ease of use, and perceived risk.This study highlights a paradigm shift from technical aspects toward behavioral and regulatory perspectives. Future research should focus on cross-platform integration, blockchain-based security, and the development of digital financial literacy policies.
References
Bank Indonesia. (2024). Blueprint sistem pembayaran Indonesia 2025. Bank Indonesia.
Bordoloia, A., & Rajendra, R. (2024). Consumer attitude toward digital payment systems in India. Journal of Fintech Innovation, 9(2), 115–134.
Dahlberg, T., Guo, J., & Ondrus, J. (2015). A critical review of mobile payment research. Electronic Commerce Research and Applications, 14(5), 265–284. https://doi.org/10.1016/j.elerap.2015.07.006
Donner, J., & Tellez, C. A. (2008). Mobile banking and economic development: Linking adoption, impact, and use. In-formation Technologies and International Development, 4(1), 1–17. https://doi.org/10.1162/1544752043971198
Elsemary, A., Alenezi, A., & Alharthi, S. (2016). A hybrid security framework for digital payment systems in Saudi Arabia. International Journal of Computer Security, 5(3), 201–215.
Kim, D., & Park, S. (2022). Consumer trust and security in digital wallets. Journal of Information Systems Research, 15(3), 201–218.
Koutrouli, M., & Manousopoulos, G. (2025). Blockchain and cross-border payment innovation. International Journal of Financial Systems, 12(4), 321–340.
Liébana-Cabanillas, F., Molinillo, S., & Japutra, A. (2021). Exploring the determinants of intention to use digital wallets. Journal of Retailing and Consumer Services, 62, 102123.
Oliveira, T., Thomas, M., Baptista, G., & Campos, F. (2016). Mobile payment: Understanding the determinants of cus-tomer adoption. Computers in Human Behavior, 61, 404–414. https://doi.org/10.1016/j.chb.2016.03.030
Organisation for Economic Co-operation and Development. (2023). Fintech and financial inclusion in emerging markets. OECD Publishing.
Setik, M., Ali, S., & Rahman, N. (2023). Web ontology for halal digital payment system. Journal of Islamic Fintech, 7(1), 41–58.
Statista Research Department. (2025). Digital payments market size worldwide 2015–2025. Statista.
Venkatesh, V., Thong, J. Y. L., & Xu, X. (2012). Consumer acceptance and use of information technology: Extending the unified theory of acceptance and use of technology. MIS Quarterly, 36(1), 157–178. https://doi.org/10.2307/41410412
World Bank. (2024). Global digital economy report 2024. World Bank Publications.
Zhou, T. (2021). An empirical examination of user adoption in mobile payment. Computers in Human Behavior, 119, 106139.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 International Journal of Economics and Management Research
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
