Development of Digital Technology in Consumer Transactions

Abstract

The development of digital technology has brought fundamental changes to consumer transactions, particularly through the digitization of payment systems , e-commerce , and the integration of technology-based financial services ( fintech ). This transformation has not only changed people's consumption patterns but also driven financial inclusion, economic efficiency, and business model innovation. On the other hand, the digitalization of consumer transactions has given rise to new challenges, such as cybersecurity risks, personal data protection, and inequality in access to technology. This study aims to analyze the development of digital technology in consumer transactions, identify the driving factors and their impacts, and examine the challenges and future directions of its development, particularly in the Indonesian context. The research methods used were juridical-normative research and literature review of scientific journals, international reports, and regulatory policies. The study's findings indicate that digital technology has accelerated the shift in consumer transactions from conventional systems to an integrated digital ecosystem, but requires an adaptive regulatory framework and consumer protection to ensure sustainability and fairness in the digital economy.