The Effect of the Integration of Non-Cash Payment Systems on Inflation and Financial Stability of the Money Supply (M1) as an Intervening Variabel


Authors : Laila Rahmawati; Caecilia Widi Pratiwi

Volume/Issue : Volume 7 - 2022, Issue 6 - June

Google Scholar : https://bit.ly/3IIfn9N

Scribd : https://bit.ly/3Pye2Gd

DOI : https://doi.org/10.5281/zenodo.6849923

Inflation is one of the macroeconomic variables, where the rate of inflation that occurs in a country indicates economic development in that country. The money supply is one of the factors that cause inflation. Nevertheless, the money supply these days is due to the innovation of non-cash payment systems. The study aimed to find out and test the effect of non-cash payment systems on inflation and the amount of money as intervention variables. The research was conducted on monthly reports of non-cash payment systems, inflation, and money apply at Bank Indonesia in 2016-2020. Sample selection in the study used non-probability sampling. Methods using descriptive analysis methods. Data analysis is done with AMOS using analysis tests. The results in this study are nominally generated by credit cards, ATMDB and e-money affect the money supply. In the same time the money supply does not effect on inflation. E-money, ATMDB do not effect on inflation. Credit cards affect inflation. ATMDB, and E-money affect inflation mediated or intervening by the money supply. But not with a credit card.

Keywords : Non-Cash Payment System, APMK, Money Supply, Inflation.

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