Digital Payment In Mitigating Traditional Cash Payment Fraud Risk: A Systematic Literature Review

Abstract

The purpose of this research is to describe how digital payments can mitigate the risk of fraud in traditional cash payments compared to digital payments. It addressed on how digital wallet payment could reduce fraud risk in traditional cash payment comparing to digital payment. Thematic analysis of a systematic literature review was used as research methodology in the study, which was supported by interviews and focus group discussions. Thematic analysis on systematic literature review was done from 86 articles that were ready to be extracted and analyzed from total 112 related articles found. Findings of the study concluded that there is a need to switch from cash to digital payment, subject to the obstacles and requirements in the switching process. Infrastructure, user safety, acceptability and availability, and the established ecosystem environment are among the obstacles. One of the outcomes of the switching process will be a reduction in fraud risk. These findings were in line with most of prior studies.