The Impact Of Mobile Money On Financial Performance Of Msmes In Indonesia

Dimas Audi Priyadi


The traditional financial system is ignored by the banking system, cellular money services (MMS) as an alternative means of payment in carrying out small and medium business activities (MSMEs). Regardless of its potential in promoting inclusive growth, the use and adoption of mobile money (MM) by MSMEs is still too low in Indonesia, and one reason is that there is limited data that supports its impact on financial performance. As a result, there is a need to investigate the impact of cellular money payments and receiving services on MSMEs financial performance in Indonesia. Payments and receipts of mobile money account for 73% of MSMEs total turnover variant  in Indonesia after they started using technology. By confirming the positive relationship between use of mobile money services and business financial performance, it is hoped that all relevant stakeholders will see this as a possible solution to the financial challenges facing MSMEs in Indonesia.

Keywords: MSMEs, Mobile money, financial performance

Full Text:



Audretsch, D., Van der Horst, R., Kwaak, T., & Thurik, R. (2009). First section of the annual report on EU small and medium-sized enterprises. Zoetermeer, the Netherlands: EIM. (Project Commissioned by the European Commission, Directorate General Enterprise and Industry).

Bank Indonesia. (2015). Profil Bisnis Usaha Mikro, Kecil dan Menengah (UMKM). Retrieved September 21, 2019, from

Coase, R.H ( 1983) “ The Nature of the Firm” Journal Of Law and Economic,

Clayton M. Christensen (2015) “ What is Disruptive Innovation” Harvard Business Review

Donner, J., & Escobari, M. (2010). “ A review of evidence on mobile use by micro and small enterprises in developing countries Journal of International Development, 22(641–658).

Ngaruiya, B.; Bosire, M.; Kamau, S.M. (2014) E-ect of Mobile Money transactions on the financial performance of small and medium enterprises in Nakuru central business district. Res. J. Financ. Account. 2014, 5, 53–58

Sartono, Agus. (2012). “Manajemen Keuangan Teori dan Aplikasi” (Edis i4). Yogyakarta: BPFE.

Sara Carrter and Jones-Evans, 2006 “ Enterprises and Small Business” Principle, Practice and Policy, Second edition, Prentice Hall

Samuel Adomoko, Danso, and Damoah, 2016 “Entrepreneurs’ optimism, cognitive style and persistence International Journal of Entrepreneurial Behavior & Research

Williamson, O.E, (1998). Transaction cost economics : how it works: where it is headed. De Economist 146, 23-58


  • There are currently no refbacks.