THE EFFECT OF SECURITY, RISK PERCEPTION, AND CONSUMER PROTECTION ON QRIS USER LOYALTY WITH THE MEDIATING ROLE OF TRUST

Abstract

Advances in digital technology are driving the transformation of payment systems from cash transactions to digital payments, one of which is through the Quick Response Code Indonesian Standard (QRIS). The use of QRIS in Indonesia, particularly in the Banyumas Regency, continues to see significant growth. However, there are still several issues regarding its use, including the potential for digital fraud, data breaches, and low levels of trust among some users toward digital payment systems. This study aims to analyze the influence of security, perceived risk, and consumer protection on QRIS user loyalty, with trust serving as a mediating variable. The study employs a quantitative approach using a survey method, distributing questionnaires to 80 QRIS users in the former Banyumas Residency region, which includes Banyumas, Cilacap, Purbalingga, and Banjarnegara Regencies. The sampling technique uses purposive sampling, with data analysis conducted using Structural Equation Modeling-Partial Least Squares (SEM-PLS). The results of the study indicate that security and consumer protection have a significant positive effect on the trust and loyalty of QRIS users, whereas perceived risk has a negative effect on user trust. Furthermore, trust was found to mediate the effects of security, perceived risk, and consumer protection on QRIS user loyalty. The research findings are expected to provide a more comprehensive understanding of the factors influencing QRIS user loyalty, as well as offer theoretical contributions to the development of digital payment system studies and practical insights for service providers and regulators in enhancing security and trust regarding the use of QRIS.