Empowering MSMEs in Bali through Financial Technology and Digital Payment Innovation to Enhance Global Competitiveness

Authors

  • Dewa Gde Yoga Permana Bali International University, Indonesia http://orcid.org/0000-0003-0067-2029
  • I Gede Bayu Wirayudha Tabanan University, Indonesia
  • I Putu Dharmawan Suryagita Susila Putra Tabanan University, Indonesia

DOI:

https://doi.org/10.35917/tb.v26i1.585

Keywords:

MSMEs in Bali, Financial Technology, Digital Payment Innovation, Global Competitiveness

Abstract

This study aims to analyze the impact of Financial Technology (FinTech) and Digital Payment Innovation on the competitiveness of Micro, Small, and Medium Enterprises (MSMEs) in Bali. This research employs a quantitative approach with Ordinary Least Squares (OLS) regression analysis to examine the relationship between FinTech usage, digital payment innovation, and MSME competitiveness. Data were collected from 100 MSME owners across various sectors in Bali, using structured questionnaires and direct interviews. Classical assumption tests, including normality, multicollinearity, heteroscedasticity, and autocorrelation, were performed to ensure the robustness of the regression model. The research results show that FinTech usage and digital payment innovation significantly and positively affect MSME competitiveness, with an R-squared value of 0.605, indicating that the two independent variables can explain 60.5% of the competitiveness variance. This implies that adopting financial technology facilitates access to financial services and enhances transaction efficiency, leading to better market reach and competitive advantage for MSMEs. However, the study is limited to MSMEs in Bali, which may restrict the generalizability of the findings to other regions. Additionally, the analysis did not include external factors such as government regulations and infrastructure limitations. Future research should expand the geographical scope and incorporate these external variables to obtain a more comprehensive understanding of FinTech's impact on MSMEs. The study suggests that stakeholders, including government and financial institutions, should encourage the adoption of digital financial services to enhance MSME competitiveness in an increasingly digital economy.

Downloads

Download data is not yet available.

References

Afifahtus Syaleha & Muhammad Yasin. (2024). Pola IKM dan UMKM di Bali. Jurnal Ekonomi Dan Pembangunan Indonesia, 2(2), 09–16. https://doi.org/10.61132/jepi.v2i2.482

Akbar, T., & Amir, H. (2024). The Role of Innovation in Enhancing MSME Competitiveness in the Digital Era: A Case Study of MSMEs in Indonesia. Journal of Business Administration and Entrepreneurship Innovation, 1(01), Article 01.

antaranews.com. (2025, April 28). Pemprov Bali genjot digitalisasi pemasaran dan keuangan UMKM. Antara News. https://www.antaranews.com/berita/4799161/pemprov-bali-genjot-digitalisasi-pemasaran-dan-keuangan-umkm

Aprinisa, A., Santoso, N. A., Hapsari, R. A., Damayanti, P. L., & Aristianto, K. A. (2025). Pemanfaatan Fintech secara Cerdas bagi UMKM Rumah BUMN Bandar Lampung di Era Digital. BERNAS: Jurnal Pengabdian Kepada Masyarakat, 6(2), Article 2. https://doi.org/10.31949/jb.v6i2.11748

Bianchini, M., & Lasheras Sancho, M. (2025). SME digitalisation for competitiveness: The 2025 OECD D4SME Survey (OECD SME and Entrepreneurship Papers). Organisation for Economic Co-Operation and Development (OECD). https://doi.org/10.1787/197e3077-en

Burhan, D. S., Fahmi Ahmad. (2021, August 12). Riset: UMKM di Luar Jawa Lebih Sering Menggunakan OVO - GoPay - Fintech Katadata.co.id. https://katadata.co.id/digital/fintech/6114bf5e5000d/riset-umkm-di-luar-jawa-lebih-sering-menggunakan-ovo-gopay

Devi, K. S. C., & Purbadharmaja, I. B. P. (2022). Influence Of Financial Technology (E-Wallet) On MSMEs’ Turnover In Denpasar. Jurnal Ekonomi Kuantitatif Terapan, 307–315. https://doi.org/10.24843/JEKT.2022.v15.i02.p09

Dewi, N. P. A. K., & Masdiantini, P. R. (2025). Pengaruh Fintech Payment Gateway, Financial Self-Efficacy, dan Sikap Keuangan terhadap Kinerja Keuangan UMKM di Kabupaten Buleleng. Jurnal Ilmiah Akuntansi Dan Humanika, 15(1), Article 1. https://doi.org/10.23887/jiah.v15i1.92318

Evangeulista, G., Agustin, A., Putra, G. P. E., Pramesti, D. T., & Madiistriyatno, H. (2023). STRATEGI UMKM DALAM MENGHADAPI DIGITALISASI. Oikos Nomos: Jurnal Kajian Ekonomi dan Bisnis, 16(1), Article 1. https://doi.org/10.37479/jkeb.v16i1.20799

Fajar, M., & Larasati, C. (2021). Peran Financial Technology (Fintech) dalam Perkembangan UMKM di Indonesia: Peluang dan Tantangan. HUMANIS (Humanities, Management and Science Proceedings), 1(2), Article 2. https://openjournal.unpam.ac.id/index.php/SNH/article/view/11835

Febriyani, W., Supratman, N. A., & Witjaksono, R. W. (2024). Exploring the Contribution of Fintech to Digital Transformation in Indonesian MSMEs: A Literature Review. SISTEMASI, 13(6), Article 6. https://doi.org/10.32520/stmsi.v13i6.4638

Gustin, F. A., Dinurri’anah, U., & Shohiha, A. (2020). ANTARA INOVASI TEKNOLOGI PEMBAYARAN TRANSAKSI BISNIS TRADISIONAL: ( STUDI KASUS UKM DI YOGYAKARTA). At-Thullab : Jurnal Mahasiswa Studi Islam, 2(2), Article 2. https://doi.org/10.20885/tullab.vol2.iss2.art5

Jenis Fintech yang Berkembang di Indonesia. (n.d.). Retrieved May 6, 2025, from https://afpi.or.id/articles/detail/jenis-fintech-yang-berkembang-di-indonesia

KPPN, R. (2024, November 4). UMKM HEBAT, PEREKONOMIAN NASIONAL MENINGKAT. https://djpb.kemenkeu.go.id/kppn/curup/id/data-publikasi/artikel/2885-umkm-hebat,-perekonomian-nasional-meningkat.html

Maharsi, H. C. (2024). The Growth of Digital Payments in Indonesia: Harnessing Its Influence for SMEs and Indonesia’s Competitiveness. Global South Review, 6(2), 54. https://doi.org/10.22146/globalsouth.95934

Mikrad, M., Budi, A., & Fitriana, A. I. (2022). PERKEMBANGAN UMKM DENGAN FINANCIAL TECHNOLOGY DAN DIGITAL MARKETING SEBAGAI VARIABEL PREDIKTOR. Digital Business Journal, 1(1), Article 1. https://doi.org/10.31000/digibis.v1i1.6599

Pemberdayaan UMKM Bali. (2024, December 13). BALIPOST.com. https://www.balipost.com/news/2024/12/13/431860/Pemberdayaan-UMKM-Bali.html

Permana, D. G. Y., & Aryowiloto, J. (2024). Implementation of QRIS Digital Payments to Encourage The Development of Local MSMEs in Bali. Ilomata International Journal of Management, 5(2), 559–568. https://doi.org/10.61194/ijjm.v5i2.1149

Permana, D. G. Y., & Wirayudha, I. G. B. (2024). Implementation of financial technology in local MSME on the economic development of Bali society. JURNAL ILMU MANAJEMEN, 21(2), Article 2. https://doi.org/10.21831/jim.v21i2.79282

Romdona, S., Junista, S. S., & Gunawan, A. (2025). TEKNIK PENGUMPULAN DATA: OBSERVASI, WAWANCARA DAN KUESIONER. JISOSEPOL: Jurnal Ilmu Sosial Ekonomi Dan Politik, 3(1), Article 1. https://doi.org/10.61787/taceee75

Salam, R., Samudra, A. A., Suradika, A., & Sumada, I. M. (2024). Future policy implementation to balance growth and sustainability: Managing the impact of mass tourism in Bali. Journal of Infrastructure, Policy and Development, 8(9), Article 9. https://doi.org/10.24294/jipd.v8i9.7927

Sari, H. N., & Hadyarti, V. (2024). The Effect of Financial Capital, Financial Technology, and Financial Behavior on MSME Performance. Jurnal Ilmiah Manajemen Kesatuan, 12(6), 2527–2536. https://doi.org/10.37641/jimkes.v12i6.2979

Sari, M., Rani, M., Kurniasih, P., & Jannah, S. R. (2024). Potensi QRIS dalam Meningkatkan Daya Saing UMKM. PENG: Jurnal Ekonomi Dan Manajemen, 1(2), Article 2. https://doi.org/10.62710/4z9xnr54

Siampa, F., Pontoh, W., & Mawikere, L. M. (2024). Pengaruh financial technology dan literasi keuangan digital terhadap pengembangan UMKM di Fakultas Ekonomi dan Bisnis Universitas Sam Ratulangi Manado. Manajemen Bisnis Dan Keuangan Korporat, 2(2), 339–349. https://doi.org/10.58784/mbkk.247

Sihotang, B. (2025). Peran Teknologi Digital dalam Meningkatkan Daya Saing UMKM di Era Digitalisasi. Jurnal Transformasi Digital Dalam Ekonomi, Bisnis, Dan Manajemen, 1(1), Article 1.

Suasih, N. N. R., Wijaya, P. Y., & Yudha, I. M. E. K. (2022). Key Factors Transformasi Digital UMKM (Pendekatan Analisis MICMAC pada UMKM di Bali). Jurnal Akuntansi Dan Pajak, 22(2), Article 2.

Suhardi, D., Gunawan, W. H., & Watulandi, M. (2025). THE IMPACT OF FINTECH, ONLINE MARKETING, AND FINANCIAL INCLUSION ON THE DEVELOPMENT OF MSME ENTERPRISES IN KUNINGAN REGENCY, WEST JAVA. International Journal of Economics, Business and Accounting Research (IJEBAR), 9(1), Article 1. https://doi.org/10.29040/ijebar.v9i1.16793

Wahid, Agit, A., & Ramadhani, S. E. (2023). Peran Dompet Digital dalam Meningkatkan Kualitas Keuangan UMKM Menuju Era Society 5.0. JPM: Jurnal Pengabdian Masyarakat, 4(1), Article 1. https://doi.org/10.47065/jpm.v4i1.859

TB 26(1) Cover

Downloads

Published

2025-07-28

How to Cite

Permana, D. G. Y., Wirayudha, I. G. B., & Putra, I. P. D. S. S. (2025). Empowering MSMEs in Bali through Financial Technology and Digital Payment Innovation to Enhance Global Competitiveness. Telaah Bisnis, 26(1), 1–10. https://doi.org/10.35917/tb.v26i1.585

Issue

Vol. 26 No. 1 (2025): July 2025

Section

Articles

Citation Check

License

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Authors who publish with this journal agree to the following terms:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).

Similar Articles

<< < 1 2 3 4 5 > >> 

You may also start an advanced similarity search for this article.