Implementing an Electronic Payment System Based on Islamic Principles and User Trust in Brunei Darussalam

Abstract

The growth of financial technology has driven the transition to faster, more efficient, and digitally integrated e-payment systems. In Brunei Darussalam, the use of e-payment systems is influenced by technological factors, compliance with Islamic ethical principles, and user trust. This study aims to analyze the influence of Islamic ethical principles on the implementation of e-payment systems, with user trust as a mediating variable. The study uses a quantitative survey method focusing on users of electronic payment services in Brunei Darussalam. Data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS) to test the relationships between variables. The findings indicate that Islamic ethical principles—such as amanah (trust), adl (justice), sidq (honesty), and the prohibition of riba and gharar—positively influence user trust. Additionally, user trust significantly influences the implementation of e-payment systems. The study shows that the implementation of financial technology aligned with Islamic ethical values can strengthen public acceptance of digital payment systems. This research contributes to the development of a digital payment system that is not only efficient but also in line with Islamic economic principles.

Keywords : Brunei Darussalam, E-Payment System, Financial Technology, Islamic Ethics Principles, User Trust