DIGITAL WALLET POLICY: ANALYSIS OF ORIGINS, THEORETICAL FOUNDATIONS, CORRUPTION RISKS, AND IMPACTS
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Abstract
This article explores the digital wallet policy, analyzing its origins, theoretical foundations, fraud risks, and impacts. Digital wallets emerged from the rise of financial technology (fintech) that offers increased efficiency, security, and accessibility for financial transactions. Theoretical frameworks such as transaction cost economics and trust theory explain the increasing adoption of digital wallets, focusing on their ability to reduce transaction costs and increase user confidence through secure data management. Despite their benefits, the article highlights key concerns, particularly regarding fraud risks and security vulnerabilities, as these systems open new avenues for fraud and misuse without proper oversight. The article also assesses the positive and negative impacts of digital wallets, noting their role in promoting financial inclusion and transparency, while acknowledging the potential risks to privacy and digital divides. The article concludes that, despite the potential for digital wallets to be transformative, successful adoption requires careful attention to security, regulation, and accessibility.
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
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