THE CALL FOR GENERAL ACCEPTED STANDARD
3. DISCUSSION
3.3 Disputes Resolution in the Finteh Industry in Indonesia
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conjunction with Article 45B of the ITE Act. Fintech companies can also be charged under Article 55 of the Criminal Code concerning fraud because they are involved in criminal acts. If the criminal act takes the form of physical violence and the taking of goods, it may be subject to sanctions in accordance with KUHP Article 170, Article 351, Article 368 Paragraph 1, and Article 335 Paragraph 1 after the decision of the Constitutional Court.
Many fintech companies in Indonesia are in the spotlight in the form of peer to peer lending (finctech P2P) financial technology, which is fintech, which offers loans directly to consumers or recipients of loans at fixed interest rates. But in reality, many financial technology companies set very high interest rates outside the provisions, so that it can harm consumers. The online loan service industry or peer to peer lending (finctech P2P) financial technology as an alternative to conventional financial services still has a long way to go because of various legal problems inherent in this industry - problematic billing practices to the misuse of personal data by fintech companies to their customers - especially Illegal fintech companies not registered or licensed by the Financial Services Authority (FSA) are suspected of committing various violations.
3.3 Disputes Resolution in the Finteh Industry in Indonesia
Dispute resolution in the fintech industry is analogous to a civil case because it relates to freedom of contract - so the realm of civil law - which can be resolved through litigation (court) and non-litigation, but business people prefer to take non-litigation through Alternative Dispute Resolution (APS) or Alternative Dispute Resolution (ADR). Dispute resolution through the APS has been regulated by Act. 30 of 1999 Concerning Arbitration and Alternative Dispute Resolution, Article 29 letter e FSA Regulation number 77 / POJK.01 / 2016 also mandates that the settlement of user disputes must be carried out simply, quickly and at affordable costs.
The form of dispute resolution can be through a small court that is simple and affordable and guarantees legal certainty because the nature of the decision is final and binding. Because of the existing regulations and legal actions taken for abusing fintech, it is only an administrative sanction for those who are registered, while those who are not registered do the blocking of the fintech company through cooperation with the Ministry of Communication and Information, but it is not certain that the blocked fintech can change form , because of the ease of making the application. So it does not cause a deterrent effect, so it cannot guarantee legal certainty and justice for the community.
For this reason, regulations at the same level are required, especially concerning and related to fraud or online crime (fintech). FSA Regulation Number 1 / POJK.07 / 2013 concerning Consumer Protection of the Financial Services Sector as well as the Financial Services Authority Circular Letter Number 2 / SEOJK.07 /2014 concerning Services and Settlement of Consumer Complaints to Financial Service Business Actors through the Consumer Dispute Resolution Board (BPSK).
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36 4. CONCLUSION
Bank Indonesia Regulation number 19/12 / PBI 2017 concerning financial technology and FSA Regulation (POJK) Number 77 of 2016 concerning Information Technology Based Lending and Borrowing Services does not guarantee legal certainty given the sanctions applied only to registered finteches and the sanctions are administrative in nature . Whereas for matters relating to criminal offenses as if untouched - examples of leaking personal data of borrowers, use of borrower data, intimidative billing and sexual harassment and many other violations concerning the technology-based financial industry, are very urgent there must be laws concerning the digital-based financial industry and the formation of a small court (small court) that is final and binding to resolve digital disputes. Because P2P loan transactions are small compared to banking transactions where the individual loan value is 2 million to 2 billion, there needs to be a global legal framework considering the digital-based financial industry is cross-jurisdictional, as stated in the 12 elements of the Bali Fintech Agenda, because it is realized or not development This fintech is happening all over the world.
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BIBLIOGRAPHY
Heriani, Novia, “Persoalan Perlindungan Konsumen di Industri Fintech Waspada Fintech Ilegal”, March 27th, 2019, accesed at July 29th, 2019.
Kusumastuti, “Peranan Hukum dalam Penyelesaian Krisis Perbankan di Indonesia”, Jakarta: Rajawali Press, 2009.
Noor, Ahmad Fikri, “Bali Fintech Agenda Jadi Acuan Teknologi Finansial
Dunia”, 2018.
https://www.republika.co.id/berita/ekonomi/fintech/18/10/12/pggitf383- bali-fintech-agenda-jadi-acuan-teknologi-finansial-dunia, Oct 12th, 2018, accesed at July 26th, 2019.
Riadi, Ade Bagus (2018) “Aspek Hukum dalam Menjalankan Perusahaan Fintech Lending di Indonesia”, https://indopos.co.id/read/2018/06/06/140502/aspek- hukum-dalam-menjalankan-perusahaan-fintech-lending-di-indonesia, 06 Juni 2018, accesed at July 29th, 2019.
Setiawan Heri, Girindra Mutiara, Evangelista Octavianna “Aspek Hukum Fintech di Indonesia: Regulasi Startup FinTech oleh BI dalam Pelarangan Perkembangan Penggunaan Bitcoin di Indonesia (AILRC)”, April 2nd 2018, accesed at July 26th, 2019
Serfiyani Cita Yustisia, Hariyani Iswi (2017) “Perlindungan Hukum dan Penyelesaian Sengketa Bisnis Jasa-PM Tekfin, Jurnal Legilasi Indonesia”, Vol. 14 No. 03 - September 2017 0: 347, accesed at July 26th, 2019
Syafina, Dea Chadiza (2018) “Regulatory sandbox jadi wadah untuk menguji model bisnis, produk, layanan dan teknologi bagi perusahaan rintisan atau startup bidang fintech”, https://tirto.id/cJpW, April 26th, 2019, accesed at July 26th, 2019
Sumadikara T. Subarsyah (2019), “Delik hukum – fintech”, https://www.pikiran- rakyat.com/opini/2019/03/14/delik-hukum-fintech, March 14th, 2019, accesed at July 26th, 2019
Oseni Umar A. Ali S. Nazim (2019) “Fintech In Islamic Finance, Theory and Practice”, New York: Routledge,
Yudho, Winarno dan Tjandrasari, Heri (1987) “Efektivitas Hukum dalam Masyarakat”, In Hukum dan Pembangunan, February, (accessed July 24, 2017)
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FINTECH AND SHARIA TRANSACTIONS (STUDY OF GO-PAY LAW)
Syariful1, Indah Fatmawati2, Indra Sumantri3
1Lecturer. Al Azhar University of Indonesia
2,3 Student, Undergraduate Program of Al Azhar University of Indonesia Email: [email protected]
Abstract
This paper is that there are differences of opinion regarding the Gopay transaction agreement. Opinion that forbids Gopay, states that the Gopay TopUp contract is a debt agreement where the customer gives debt to Gojek and because every benefit arising from the debt is haraam, then the discount Gopay is haram so that Gopay is haram if there is a difference with physical cash payments. Opinions that allow Gopay, by looking at the provisions provided by the motorcycle, the contract is not a debt receivable, but an immediate payment of the ijarah contract. This is based on the provisions, Gopay is a wallet to pay for all transactions in the Gojek application and Gopay cannot be cashed or returned. That is, the motorcycle taxi does not accept the cancellation of the contract, for those who have already purchased a Gopay voucher. This condition is different from the loan receivable contract. In a loan agreement, the money we give to the recipient of the debt must be returned, and as long as the money is still there, it will not be forfeited until it is repaid.
Keywords: FinTech, Gopay, Sharia Law 1. INTRODUCTION
Background
Today's modern era, humans have a life with all the activities that can never be separated from technological developments. The development of information and communication technology has caused changes in the social, economic, and cultural fields that take place quickly. With the development of technology that is very advanced, the financial sector also has developments towards more efficient and modern. In the world economy today it is very important to provide technological innovation in it. Technology and finance have a related relationship.
Currently there is technology that leads to financial innovation with a touch of modern technology in the field of services called Financial Technology.
According to Bank Indonesia Regulation No.18/40/PBI/2016 concerning the Implementation of Payment Transaction Processing, on the weighing page states that the development of technology and information systems continue to produce various innovations, particularly those related to Financial Technology (FinTech)
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in order to meet the needs of the public including in the field of payment system services, both in terms of instruments, providers, mechanisms, and infrastructure for processing payment transactions. FinTech will present a more practical, secure and modern financial transaction process. Today electronic money is one of the non-cash payment instruments used in transactions via the internet.
Indonesia is one of the countries following the development of this electronic money. Legal institutions needed to support the development of electronic money are by issuing regulations made by Bank Indonesia as a Central Bank and as a monetary entity. The Bank Indonesia Regulation (PBI) is PBI Number: 11/12/PBI/2009 concerning Electronic Money. The existence of this policy regulation is certainly a clear proof that Indonesia recognizes the existence of electronic money in Indonesia.
The business model of e-commerce has grown, not only in the retail sector or the market for the product, but also thrive on transport services, such as gojek, uber, grab, financial services such as modalku, Gopay and Money Friends. All of these financial services are part of FinTech. The existence and development of Fintech is supported by technological innovations in the fields of cloud computing, learning machines, digital & mobile payments, block chain distributed ledgers, and big data.
In Indonesia FinTech financial services that are currently developing are divided into several groups, namely payment systems, digital banking, online/digital insurance, peer-to-peer (P2P) Lending, and crowdfunding. Based on Bank Indonesia data, there are currently 96 FinTech companies operating in Indonesia.1
Based on observations, the development of transactions in the current Gojek application, Gopay,2 as a payment registration medium contained in the Gojek application. At this time loyal Gojek customers can make payment transactions via digital money in addition to using the cash payment method. Gojek customers can top up Gopay balances directly through a bank account with a choice of deposit balance methods through ATMs, mobile banking, or internet banking that will provide freedom of transactions anywhere. In 2017 Gojek will focus on the Gopay service and the GoPoints add-on program, where customers will get points from the swipe game token game that is obtained from each transaction through Gopay.
1 Ika Sri Mawarni, Research Methodology: "Analysis of Community Perceptions of Users of Digital Transaction Services in Financial Technology" Bandung: Telkom University, 2017
2 Gopay, according to Erwandi Tarmizi, is a virtual wallet to store credit objects that can be used to pay for transactions in the gojek application.
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41 2. DISCUSSION
According to JakPat research institute3 (Online survey platform application in Indonesia) in December 2016, the percentage of use of digital payments on Gopay in Indonesia has reached 27.1%, ranking fourth after Mandiri e-Money at 43.8%, BCA Flazz at 39.1 %, and Telkomsel T-Cash by 29.1%. It can be concluded that the new GoPay service. Running for about a year gets an amazing response. It does not cover the possibility for improvement and Gopay's service position in the future will get a higher position in Indonesia in digital transaction services.
Gopay's digital payment service is popular with users since Gojek offers a 50% discount on customers who use Gopay transactions. GoRide motorcycle taxi service is still the most widely used payment using Gopay. Gopay's balance can be used to pay for all types of Gojek services ranging from GoRide, GoFood to GoMart. CEO and founder of Gojek Nadiem Makariem4 announced that Gopay would later be used to make payments outside the Gojek application. So that Gopay is not only used to pay for various Gojek services like so far. By expanding its non-cash payment services, Gopay can be used in e-commerce or other online sites in Indonesia. Gopay can also be used to pay at offline stores.
Muamalah practice is happening right now, when the Gopay feature is used, there are two opinions among the scholars. First, the opinion which says that financial transactions through Gopay is haram. Because customers must deposit a sum of money to Gopay, the money has not been directly spent by the customer, thus the money that will be collected will be very much, the money collected is used by Gopay to provide discounts or discounts, as an additional benefit.
Additional benefits in the basic principles and standard rules of Muamalah are called usury.