DIGITAL PAYMENT ECOSYSTEM AND FINANCIAL INCLUSION FOR MSMES ECONOMIC SUSTAINABILITY IN INDONESIA: A SYSTEMATIC LITERATURE REVIEW

Abstract

This article is a systematic literature review (SLR) that investigates the interaction between the digital payment ecosystem and financial inclusion as a fundamental pillar for the economic sustainability of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. Amidst the high penetration of financial technology in the post-pandemic era, empirical evidence suggests that the adoption of transactional tools is not always linearly proportional to long-term business resilience. To address this issue, an SLR adhering to the PRISMA protocol was conducted on 30 reputable articles (indexed by Sinta 1-4 and Scopus) published between 2022 and 2026. In-depth thematic analysis was performed, supported by bibliometric mapping using VOSviewer software to identify research trends and gaps. The literature synthesis reveals that digital instruments, such as QRIS, are capable of facilitating financial inclusion by creating digital transaction footprints that serve as a substitute for traditional credit collateral. However, the successful conversion of technology into business resilience is highly contingent upon the financial management discipline of MSME actors. Furthermore, this study uncovers the persistence of asymmetric structural barriers, particularly infrastructure limitations in coastal areas and resistance toward transaction costs (Merchant Discount Rate). As an implication, this study proposes a conceptual framework urging relevant authorities to design policies that transcend mere instrument penetration, moving toward equitable infrastructure distribution and comprehensive managerial education.