Mitigating Fraud Risk in Cash-Based Payment System via E-Payment Implementation: Case of Indonesia

Abstract

E-payment systems, also known as cashless payment systems, have gradually started to replace traditional payment systems. An e-wallet is an innovative cashless payment system that could make transactions more effective and efficient and could mitigate possible fraud risk in cash-based payment systems. This study intends to highlight the potential of e-wallets in mitigating fraud risks in payment systems. This study employs an iterative review of the literature and publications that are relevant to e-wallet and fraud mitigation in payment systems. Based on the analysis, the conclusion reached is that the e-wallet system could reduce the possible risk of fraud occurrence in cash-based payment systems.