E-Commerce, Financial Technology, and MSME Development: the Moderating Role of Digital Literacy in Islamic Economics
DOI:
https://doi.org/10.24256/kharaj.v8i3.12291Keywords:
digital literacy; e-commerce; financial technology; Islamic economics; MSME developmentAbstract
Purpose: This study examines the direct effects of e-commerce, financial technology, and digital literacy on MSME development in Medan City, tests digital literacy as a moderator, and interprets the findings from an Islamic economic perspective. Methods: A quantitative cross-sectional survey involved 85 digitally active MSME owners or operators purposively selected from a population of 38,343 businesses. Five-point Likert data were analyzed using partial least squares structural equation modeling (PLS-SEM). Results: E-commerce (β = .256; p = .013), financial technology (β = .359; p = .001), and digital literacy (β = .359; p < .001) each had positive direct effects. The model explained 73.3% of MSME-development variance. Digital literacy did not moderate the financial-technology relationship (β = .005; p = .959) or the e-commerce relationship (β = -.057; p = .592). Implications: Digital literacy operates primarily as a direct business capability. MSME support should combine e-commerce optimization, secure digital finance, and Sharia-compliant digital-literacy development based on transparency, mutual consent, justice, and avoidance of riba, gharar, maysir, tadlis, and prohibited transactions.
References
Candra, Y. T. A., & Pabulo, A. M. A. (2021). Pengaruh e-payment services dan e-commerce services terhadap kinerja UMKM yang dimediasi oleh digitalization knowledge. Ecobisma: Jurnal Ekonomi, Bisnis dan Manajemen, 8(2), 48-61.
Dalimunthe, W. M., Rahma, T. I. F., & Syarvina, W. (2023). Efektivitas fintech melalui digital payment terhadap perkembangan UMKM di Indonesia. Reslaj: Religion Education Social Laa Roiba Journal, 5(6), 3296-3306. https://doi.org/10.47467/reslaj.v5i6.1059
Daulay, U. D. (2023). Analisis pengaruh penggunaan fintech dan literasi keuangan terhadap kinerja usaha UMKM di Kota Padangsidimpuan dengan digital marketing sebagai variabel moderating [Master's thesis, Universitas Islam Negeri Syekh Ali Hasan Ahmad Addary Padangsidimpuan].
Dewan Syariah Nasional-Majelis Ulama Indonesia. (2017). Fatwa No. 116/DSN-MUI/IX/2017 tentang uang elektronik syariah.
Dewan Syariah Nasional-Majelis Ulama Indonesia. (2018). Fatwa No. 117/DSN-MUI/II/2018 tentang layanan pembiayaan berbasis teknologi informasi berdasarkan prinsip syariah.
Emilia, Ayunda, K. P., & Achmad, E. (2023). Analisis pengaruh penggunaan e-commerce, media sosial, dan social media marketing terhadap pendapatan usaha mikro kecil menengah fashion di Kota Jambi. Jurnal Perdagangan Industri dan Moneter, 11(3).
Farhan, M. T., Eryanto, H., & Saptono, A. (2022). Pengaruh literasi digital dan orientasi kewirausahaan terhadap kinerja usaha UMKM. Transeconomika: Akuntansi, Bisnis dan Keuangan, 2(6), 35-48. https://doi.org/10.55047/transeconomika.v2i6.265
Hair, J. F., Ringle, C. M., & Sarstedt, M. (2017). A primer on partial least squares structural equation modeling (PLS-SEM) (2nd ed.).Sage.
Hambali, H. R., Nendissa, S. J., Mayndarto, E. C., Djibran, M. M., & Dinsar, A. (2024). Pengaruh fintech dan e-commerce terhadap kinerja keuangan UMKM di Indonesia. Jurnal Ilmiah Manajemen dan Bisnis, 8(2), 1-7.
Hasyim, T. M. (2022). Analisis peranan fintech dan e-commerce terhadap perkembangan UMKM. Keunis, 10(2), 19-28. https://doi.org/10.32497/keunis.v10i2.3490
Ilmi, N. A. N. (2021). Peran UMKM dalam mengurangi tingkat pengangguran masyarakat dan strategi UMKM di tengah pandemi COVID-19. Jurnal Manajemen Bisnis, 18(1).
Kadeni, & Srijani, N. (2020). Peran UMKM dalam meningkatkan kesejahteraan masyarakat. Equilibrium: Jurnal Ilmiah Ekonomi dan Pembelajarannya, 8(2).
Lestari, R. Y., & Sartika, D. (2025). Pengaruh literasi keuangan, financial technology, dan e-commerce terhadap kinerja UMKM dengan business experience sebagai variabel moderating. Jurnal Ekonomi dan Bisnis, 6(9), 3380-3395.
Putra, T. W. A., Solechan, A., & Hartono, B. (2023). Transformasi digital pada UMKM dalam meningkatkan daya saing pasar. Jurnal Informatika Upgris, 9(1), 15-20. https://doi.org/10.26877/jiu.v9i1.15096
Undari, W., & Lubis, A. S. (2021). Usaha mikro kecil dan menengah (UMKM) dalam meningkatkan kesejahteraan masyarakat. Jurnal Penelitian Pendidikan Sosial Humaniora, 6(1).
Yulian, T. N., & Mudiharso, W. (2026). Pengaruh literasi keuangan dan literasi digital terhadap peningkatan penjualan UMKM di Indonesia: Systematic literature review. Jurnal Ekonomi dan Bisnis Digital, 4(3), 21075-21085.
Yusuf, M. (2022). Pengaruh electronic commerce (e-commerce) terhadap peningkatan pendapatan pada UMKM di Kecamatan Bekasi Utara. Jurnal Akuntansi STEI, 5(1), 19-29.
Downloads
Published
How to Cite
Issue
Section
Citation Check
License
Copyright (c) 2026 Anwar Sadat, Muhammad Syukri Albani Nasution, Muhammad Irwan Padli Nasution
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. In line with the license, authors are allowed to share and adapt the material. In addition, the material must be given appropriate credit, provided with a link to the license, and indicated if changes were made. If authors remix, transform or build upon the material, authors must distribute their contributions under the same license as the original.
