The influence of financial awareness and digital payment behavior on the financial management of UINSU students in the cashless era
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Jun 25, 2026
Keywords:
Cashless Era, Financial Awareness, Financial Management Payment Digital, Students
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Articles
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Abstract
This research was conducted to examine the effects of financial awareness and digital payment behavior on the financial management of students at the Faculty of Islamic Economics and Business, State Islamic University of North Sumatra. A quantitative approach with an associative research design was employed in this study. The research population comprised 4,556 students, from which 98 respondents were selected using the Slovin formula and purposive sampling technique. Data were gathered through questionnaires and subsequently analyzed using multiple linear regression with the assistance of SPSS software. The findings reveal that financial awareness positively and significantly influences students’ financial management, as indicated by a regression coefficient of 0.336 and a significance value below 0.001. Likewise, digital payment behavior was found to have a positive and significant impact on financial management, with a regression coefficient of 0.474 and a significance value below 0.001. The simultaneous test further demonstrates that financial awareness and digital payment behavior jointly exert a significant influence on students’ financial management, as evidenced by an F-value of 69.603 and a significance level below 0.001. Furthermore, the coefficient of determination (R²) of 0.594 shows that 59.4% of the variance in students’ financial management can be explained by the two independent variables examined in this study.
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How to Cite
Hardi, R., Nasution, M. I. P., & Daulay, A. N. (2026). The influence of financial awareness and digital payment behavior on the financial management of UINSU students in the cashless era. Indonesia Auditing Research Journal, 15(2), 234–244. https://doi.org/10.35335/arj.v15i2.708
References
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Chatrine, S. I., Sari, M. I., & Wijayantini, B. (2025). Pengaruh Fintech Payment Terhadap Perilaku Manajemen Keuangan Mahasiswa di Kabupaten Jember. Jurnal Ekonomi, Manajemen, Akuntansi Dan Keuangan, 6(3), 1–16. https://doi.org/10.53697/emak.v6i3.2687
Epriyani, J., Lazuarni, S., & Emilda, E. (2025). Analisis Financial Technology Payment dan Pengetahuan Keuangan (Financial Knowledge) Terhadap Perilaku Keuangan Generasi Z Di Kota Palembang. JEMSI: Jurnal Ekonomi Manajemen Sistem Informasi, 6(4), 2689–2702. https://doi.org/10.38035/jemsi.v6i4
Februari, B. (2024). Strategi Pemasaran PT Bank Syariah Indonesia KCP Cemara Asri dalam Menawarkan Produk Pembiayaan Pra Pensiun Guna Menarik Minat Nasabah. Eksis: Jurnal Ilmiah Ekonomi Dan Bisnis, 15(1), 54–61.
Februari, B., Lathief, M., & Nasution, I. (2024). Communication Skill Analysis in Marketing of iB Hijrah Savings. Jurnal Ekonomi Syariah Dan Bisnis Islam, 11(1), 83–92.
Fransiska, H., & Sri, D. (2024). Pengaruh Financial Awareness Dan Love Of Money Terhadap Pengelolaan Keuangan Generasi Z. JIA: Jurnal Informasi Akuntansi, 3(1), 1–17. https://doi.org/10.32524/jia.v3i1.1146
Hanifa, A. R. (2025, November 14). Transaksi QRIS Capai 10,33 Miliar, Jangkau 58 Juta Pengguna dan 41 Juta Merchant. MetroTVNews. https://www.metrotvnews.com/play/NG9CQDG0-transaksi-qris-capai-10-33-miliar-jangkau-58-juta-pengguna-dan-41-juta-merchant
Khairunnisa, J. S., Widyastuti, U., & Noviarini, D. (2025). Financial Literacy dan Usage of E-Payment: Peran Spending Behavior Terhadap Financial Well-Being pada Young Adults. PENG: Jurnal Ekonomi Dan Manajemen, 3(1), 270–286. https://doi.org/10.62710/701xet88
Khan, M. S., Syahbudi, M., & Aisyah, S. (2024). Factors Influencing The Impulsive Buying Behavior of UINSU Students in Online Stores from an Islamic Economic Perspective, With Rational Choice as an Intervening Variable. Jurnal Manajemen Bisnis, 11(1), 478–495. https://doi.org/10.33096/jmb.v11i1.739
Khotimah, K., Puspitasari, I., & Galih Prasaja, M. (2025). The Impact of Fintech Payments and Financial Literacy on Student Financial Management Behaviour. BALANCE: Economic, Business, Management and Accounting Journal, 22(1), 15–30. https://doi.org/10.30651/blc.v22i1.23795
Krämer, W. (2014). Kahneman, D. (2011): Thinking, Fast and Slow. Statistical Papers, 55(3), 915–915. https://doi.org/10.1007/s00362-013-0533-y
Liu, T., Fan, M., Li, Y., & Yue, P. (2023). Financial literacy and household financial resilience. https://ssrn.com/abstract=5511738
Lo Prete, A. (2022). Digital and financial literacy as determinants of digital payments and personal finance. https://ssrn.com/abstract=3948927
Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. http://www.nber.org/papers/w18952
Mardiana, M., & Widoatmodjo, S. (2023). Factors Affecting Financial Management Behavior Among Universitas Tarumanagara’s Students. International Journal of Application on Economics and Business (IJAEB), 1(1), 2987–1972. https://doi.org/10.24912/ijaeb.v1i1.355-363
Nurbaiti, N., Asmuni, A., Soemitra, A., Imsar, I., & Aisyah, S. (2023). Behavior analysis of MSMEs in Indonesia using fintech lending comparative study between sharia fintech lending and conventional fintech lending. JPPI: Jurnal Penelitian Pendidikan Indonesia, 9(4), 92–99. https://doi.org/10.29210/0202312273
Pak, T. Y., Fan, L., & Chatterjee, S. (2024). Financial socialization and financial well-being in early adulthood: The mediating role of financial capability. Family Relations, 73(3), 1664–1685. https://doi.org/10.1111/fare.12959
Potocki, T., & Białowąs, S. (2023). What Factors Predict a Positive Change in a Consumer’s Financial Capability over Time? The New Evidence from Poland. Journal of Family and Economic Issues, 44(3), 634–654. https://doi.org/10.1007/s10834-022-09868-7
Prameswari, A., Namira Hsb, D., Nur Bayani, L., & Nurbaiti, N. (2022). Analisis Faktor-Faktor Yang Mempengaruhi Minat Mahasiswa UINSU Medan Dalam Menggunakan Sistem Pembayaran E-Wallet. JUSIBI (Jurnal Sistem Informasi Dan E-Bisnis), 4(1), 60–70. https://jurnal.ikhafi.or.id/index.php/jusibi
Rahman, A. Z., Daulay, A. N., & Nasution, M. L. I. (2025). The Influence of Financial Literacy, Religiosity, and Financial Technology on the Financial Behavior of Generation Z in Medan City. Journal of Applied Business Administration, 9(2), 386–400. https://doi.org/10.30871/jaba.10886
Riitsalu, L., Sulg, R., Lindal, H., Remmik, M., & Vain, K. (2024). From Security to Freedom— The Meaning of Financial Well-being Changes with Age. Journal of Family and Economic Issues, 45(1), 56–69. https://doi.org/10.1007/s10834-023-09886-z
Sari, D. P., & Patmarina, H. (2025). Pengaruh Financial Literacy dan Fintech Payment terhadap Perilaku Manajemen Keuangan Mahasiswa. Jurnal ARASTIRMA Universitas Pamulang, 5(1), 225–234. https://doi.org/10.32493/jaras.v5i1.46366
Seldal, M. M. N., & Nyhus, E. K. (2022). Financial Vulnerability, Financial Literacy, and the Use of Digital Payment Technologies. Journal of Consumer Policy, 45(2), 281–306. https://doi.org/10.1007/s10603-022-09512-9
Shim, S., Barber, B. L., Card, N. A., Xiao, J. J., & Serido, J. (2010). Financial Socialization of First-year College Students: The Roles of Parents, Work, and Education. Journal of Youth and Adolescence, 39(12), 1457–1470. https://doi.org/10.1007/s10964-009-9432-x
Siregar, H. M., Nasution, M. I. P., & Marliyah. (2025). PENGARUH SISTEM PEMBAYARAN DIGITAL DAN GAYA HIDUP TERHADAP PERILAKU KONSUMTIF MAHASISWA. Jurnal Manajemen Terapan Dan Keuangan (Mankeu), 14(04), 1658–1673. https://doi.org/10.22437/jmk.v14i04.49482
Szikszai, S., Nagy, A. M., Bosnyák-Simon, N., & Raffai, C. (2024). Financial Awareness of Young Adults-Experience From A Cross-Border Survey Among Hungarian Speaking Students. Deturope, 16(1), 4–20. 10.32725/det.2024.001
Tang, N. (2024). Financial Awareness and Its Role in Financial Behavior. https://dx.doi.org/10.2139/ssrn.5018160
Tarigan, I. Y. (2025, August 26). BI Sebut Pengguna QRIS Tembus 57 Juta Orang per Semester I-2025. Kontan. https://keuangan.kontan.co.id/news/bi-sebut-pengguna-qris-tembus-57-juta-orang-per-semester-i-2025?utm_source=chatgpt.com
Thaler, R. H. (2016). Behavioral Economics: Past, Present, and Future. American Economic Review, 106(7), 1577–1600. https://doi.org/10.1257/aer.106.7.1577
Ulum, I. F., & Solekah, N. A. (2024). The Impact of Lifestyle, Financial Literacy, and Ease of Use of E-Payment on E-Wallet Users’ Consumptive Behavior in the Millennial Generation. MEC-J (Management and Economics Journal), 8(1), 67–82. https://doi.org/10.18860/mec-j.v8i1.26265
Van Nguyen, H., Ha, G. H., Nguyen, D. N., Doan, A. H., & Phan, H. T. (2022). Understanding financial literacy and associated factors among adult population in a low-middle income country. Heliyon, 8(6), e09638. https://doi.org/10.1016/j.heliyon.2022.e09638
Vitalia, T. T., & Noviarty, H. (2024). Moderating Effect of E-Money Usage on Generation Z Financial Management in a Cashless Society. Jurnal Ilmiah Manajemen Kesatuan, 12(5), 1849–1856. https://doi.org/10.37641/jimkes.v12i5.2532
Xiao, J. J., & Porto, N. (2022). Financial capability and wellbeing of vulnerable consumers. Journal of Consumer Affairs, 56(2), 1004–1018. https://doi.org/10.1111/joca.12418
Yue, P., Korkmaz, A. G., Yin, Z., & Zhou, H. (2022). The rise of digital finance: Financial inclusion or debt trap? Finance Research Letters, 47. https://doi.org/10.1016/j.frl.2021.102604
Zaimovic, A., Meskovic, M. N., Dedovic, L., Arnaut-Berilo, A., Zaimovic, T., & Torlakovic, A. (2024). Measuring digital financial literacy. Procedia Computer Science, 236, 574–581. https://doi.org/10.1016/j.procs.2024.05.068
Aisyah, S., Harahap, M. I., Nurbaiti, N., & Rokan, M. K. (2023). The Factors Influencing Behavioural Intention Fintech Lending (Paylater) Among Generation Z Indonesian Muslims and Islamic Consumption Ethics Views. EKONOMIKA SYARIAH: Journal of Economic Studies, 7(1), 01–20. https://doi.org/10.30983/es.v7i1.6233
Chatrine, S. I., Sari, M. I., & Wijayantini, B. (2025). Pengaruh Fintech Payment Terhadap Perilaku Manajemen Keuangan Mahasiswa di Kabupaten Jember. Jurnal Ekonomi, Manajemen, Akuntansi Dan Keuangan, 6(3), 1–16. https://doi.org/10.53697/emak.v6i3.2687
Epriyani, J., Lazuarni, S., & Emilda, E. (2025). Analisis Financial Technology Payment dan Pengetahuan Keuangan (Financial Knowledge) Terhadap Perilaku Keuangan Generasi Z Di Kota Palembang. JEMSI: Jurnal Ekonomi Manajemen Sistem Informasi, 6(4), 2689–2702. https://doi.org/10.38035/jemsi.v6i4
Februari, B. (2024). Strategi Pemasaran PT Bank Syariah Indonesia KCP Cemara Asri dalam Menawarkan Produk Pembiayaan Pra Pensiun Guna Menarik Minat Nasabah. Eksis: Jurnal Ilmiah Ekonomi Dan Bisnis, 15(1), 54–61.
Februari, B., Lathief, M., & Nasution, I. (2024). Communication Skill Analysis in Marketing of iB Hijrah Savings. Jurnal Ekonomi Syariah Dan Bisnis Islam, 11(1), 83–92.
Fransiska, H., & Sri, D. (2024). Pengaruh Financial Awareness Dan Love Of Money Terhadap Pengelolaan Keuangan Generasi Z. JIA: Jurnal Informasi Akuntansi, 3(1), 1–17. https://doi.org/10.32524/jia.v3i1.1146
Hanifa, A. R. (2025, November 14). Transaksi QRIS Capai 10,33 Miliar, Jangkau 58 Juta Pengguna dan 41 Juta Merchant. MetroTVNews. https://www.metrotvnews.com/play/NG9CQDG0-transaksi-qris-capai-10-33-miliar-jangkau-58-juta-pengguna-dan-41-juta-merchant
Khairunnisa, J. S., Widyastuti, U., & Noviarini, D. (2025). Financial Literacy dan Usage of E-Payment: Peran Spending Behavior Terhadap Financial Well-Being pada Young Adults. PENG: Jurnal Ekonomi Dan Manajemen, 3(1), 270–286. https://doi.org/10.62710/701xet88
Khan, M. S., Syahbudi, M., & Aisyah, S. (2024). Factors Influencing The Impulsive Buying Behavior of UINSU Students in Online Stores from an Islamic Economic Perspective, With Rational Choice as an Intervening Variable. Jurnal Manajemen Bisnis, 11(1), 478–495. https://doi.org/10.33096/jmb.v11i1.739
Khotimah, K., Puspitasari, I., & Galih Prasaja, M. (2025). The Impact of Fintech Payments and Financial Literacy on Student Financial Management Behaviour. BALANCE: Economic, Business, Management and Accounting Journal, 22(1), 15–30. https://doi.org/10.30651/blc.v22i1.23795
Krämer, W. (2014). Kahneman, D. (2011): Thinking, Fast and Slow. Statistical Papers, 55(3), 915–915. https://doi.org/10.1007/s00362-013-0533-y
Liu, T., Fan, M., Li, Y., & Yue, P. (2023). Financial literacy and household financial resilience. https://ssrn.com/abstract=5511738
Lo Prete, A. (2022). Digital and financial literacy as determinants of digital payments and personal finance. https://ssrn.com/abstract=3948927
Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. http://www.nber.org/papers/w18952
Mardiana, M., & Widoatmodjo, S. (2023). Factors Affecting Financial Management Behavior Among Universitas Tarumanagara’s Students. International Journal of Application on Economics and Business (IJAEB), 1(1), 2987–1972. https://doi.org/10.24912/ijaeb.v1i1.355-363
Nurbaiti, N., Asmuni, A., Soemitra, A., Imsar, I., & Aisyah, S. (2023). Behavior analysis of MSMEs in Indonesia using fintech lending comparative study between sharia fintech lending and conventional fintech lending. JPPI: Jurnal Penelitian Pendidikan Indonesia, 9(4), 92–99. https://doi.org/10.29210/0202312273
Pak, T. Y., Fan, L., & Chatterjee, S. (2024). Financial socialization and financial well-being in early adulthood: The mediating role of financial capability. Family Relations, 73(3), 1664–1685. https://doi.org/10.1111/fare.12959
Potocki, T., & Białowąs, S. (2023). What Factors Predict a Positive Change in a Consumer’s Financial Capability over Time? The New Evidence from Poland. Journal of Family and Economic Issues, 44(3), 634–654. https://doi.org/10.1007/s10834-022-09868-7
Prameswari, A., Namira Hsb, D., Nur Bayani, L., & Nurbaiti, N. (2022). Analisis Faktor-Faktor Yang Mempengaruhi Minat Mahasiswa UINSU Medan Dalam Menggunakan Sistem Pembayaran E-Wallet. JUSIBI (Jurnal Sistem Informasi Dan E-Bisnis), 4(1), 60–70. https://jurnal.ikhafi.or.id/index.php/jusibi
Rahman, A. Z., Daulay, A. N., & Nasution, M. L. I. (2025). The Influence of Financial Literacy, Religiosity, and Financial Technology on the Financial Behavior of Generation Z in Medan City. Journal of Applied Business Administration, 9(2), 386–400. https://doi.org/10.30871/jaba.10886
Riitsalu, L., Sulg, R., Lindal, H., Remmik, M., & Vain, K. (2024). From Security to Freedom— The Meaning of Financial Well-being Changes with Age. Journal of Family and Economic Issues, 45(1), 56–69. https://doi.org/10.1007/s10834-023-09886-z
Sari, D. P., & Patmarina, H. (2025). Pengaruh Financial Literacy dan Fintech Payment terhadap Perilaku Manajemen Keuangan Mahasiswa. Jurnal ARASTIRMA Universitas Pamulang, 5(1), 225–234. https://doi.org/10.32493/jaras.v5i1.46366
Seldal, M. M. N., & Nyhus, E. K. (2022). Financial Vulnerability, Financial Literacy, and the Use of Digital Payment Technologies. Journal of Consumer Policy, 45(2), 281–306. https://doi.org/10.1007/s10603-022-09512-9
Shim, S., Barber, B. L., Card, N. A., Xiao, J. J., & Serido, J. (2010). Financial Socialization of First-year College Students: The Roles of Parents, Work, and Education. Journal of Youth and Adolescence, 39(12), 1457–1470. https://doi.org/10.1007/s10964-009-9432-x
Siregar, H. M., Nasution, M. I. P., & Marliyah. (2025). PENGARUH SISTEM PEMBAYARAN DIGITAL DAN GAYA HIDUP TERHADAP PERILAKU KONSUMTIF MAHASISWA. Jurnal Manajemen Terapan Dan Keuangan (Mankeu), 14(04), 1658–1673. https://doi.org/10.22437/jmk.v14i04.49482
Szikszai, S., Nagy, A. M., Bosnyák-Simon, N., & Raffai, C. (2024). Financial Awareness of Young Adults-Experience From A Cross-Border Survey Among Hungarian Speaking Students. Deturope, 16(1), 4–20. 10.32725/det.2024.001
Tang, N. (2024). Financial Awareness and Its Role in Financial Behavior. https://dx.doi.org/10.2139/ssrn.5018160
Tarigan, I. Y. (2025, August 26). BI Sebut Pengguna QRIS Tembus 57 Juta Orang per Semester I-2025. Kontan. https://keuangan.kontan.co.id/news/bi-sebut-pengguna-qris-tembus-57-juta-orang-per-semester-i-2025?utm_source=chatgpt.com
Thaler, R. H. (2016). Behavioral Economics: Past, Present, and Future. American Economic Review, 106(7), 1577–1600. https://doi.org/10.1257/aer.106.7.1577
Ulum, I. F., & Solekah, N. A. (2024). The Impact of Lifestyle, Financial Literacy, and Ease of Use of E-Payment on E-Wallet Users’ Consumptive Behavior in the Millennial Generation. MEC-J (Management and Economics Journal), 8(1), 67–82. https://doi.org/10.18860/mec-j.v8i1.26265
Van Nguyen, H., Ha, G. H., Nguyen, D. N., Doan, A. H., & Phan, H. T. (2022). Understanding financial literacy and associated factors among adult population in a low-middle income country. Heliyon, 8(6), e09638. https://doi.org/10.1016/j.heliyon.2022.e09638
Vitalia, T. T., & Noviarty, H. (2024). Moderating Effect of E-Money Usage on Generation Z Financial Management in a Cashless Society. Jurnal Ilmiah Manajemen Kesatuan, 12(5), 1849–1856. https://doi.org/10.37641/jimkes.v12i5.2532
Xiao, J. J., & Porto, N. (2022). Financial capability and wellbeing of vulnerable consumers. Journal of Consumer Affairs, 56(2), 1004–1018. https://doi.org/10.1111/joca.12418
Yue, P., Korkmaz, A. G., Yin, Z., & Zhou, H. (2022). The rise of digital finance: Financial inclusion or debt trap? Finance Research Letters, 47. https://doi.org/10.1016/j.frl.2021.102604
Zaimovic, A., Meskovic, M. N., Dedovic, L., Arnaut-Berilo, A., Zaimovic, T., & Torlakovic, A. (2024). Measuring digital financial literacy. Procedia Computer Science, 236, 574–581. https://doi.org/10.1016/j.procs.2024.05.068
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