IMPLEMENTASI E-PAYMENT PADA UMKM UNTUK MENINGKATKAN EFISIENSI TRANSAKSI PADA UMKM DI MALAYSIA

Abstract

The Micro, Small, and Medium Enterprises (MSMEs) sector plays a vital role in Malaysia's economy; however, many business owners still rely on cash transactions, which are prone to security risks and operational inefficiencies. This initiative aims to integrate electronic payment (e-payment) systems to enhance transaction efficiency and financial transparency among MSMEs in Malaysia. The approach involves technical training on digital payment platforms such as eWallets and Malaysia’s DuitNow QR alongside merchant registration assistance and digital financial literacy education. Significant results from this implementation show an average increase in transaction speed of 40% and a drastic reduction in manual bookkeeping errors. Furthermore, MSMEs adopting e-payments reported a wider customer reach, particularly among younger consumers who prefer contactless methods. The benefits to the community include the creation of a more inclusive digital economic ecosystem, enhanced transaction security due to reduced physical cash handling, and greater convenience for consumers. Overall, the digitalization of payment systems not only strengthens the competitiveness of MSMEs in the domestic market but also supports the Malaysian government's vision of achieving a more advanced and integrated cashless society.