Cryptocurrency as a payment agent

The paper examines the essence of cryptocurrency as a method of payment has been investigated and identifies its key features (exchange for goods or services; exchange for classic currency; payment for goods and services; minimum level of possibility of abduction; payments, fast and direct transactions; investment asset; business development in cryptocurrency). Different approaches to determining the legal nature of cryptocurrency are analyzed (cryptocurrency as a method of payment; cryptocurrency as a foreign currency; cryptocurrency as a financial asset; cryptocurrency as a financial pyramid). The conclusions of the EU court, the courts of the national system on the use of cryptocurrency as a means of payment are analyzed. The legal nature of cryptocurrency is determined through the prism of world practices of its use. The possibility of using cryptocurrencies in terms of their ability to perform the basic functions of money is analyzed. The paper examines two attempts of legislators to regulate the issues of taxation, legal nature and legal regulation of cryptocurrency in 2019 and 2020. Attention is also paid to the relevant institutions where you can pay with cryptocurrencies, namely: “Spendabit”, “CoinATMRadar”, exchange office in online networks – WebMoney. According to the National Bank of Ukraine, the danger of cryptocurrency transactions is indicated. Examples of the main risks associated with the purchase, sale, exchange and conversion of cryptocurrencies are given (possibility of loss of funds due to theft, possibility of fraud, lack of infrastructure, significant price fluctuations of cryptocurrencies, lack of guarantees for return of invested funds in cryptocurrencies). In conclusion, attention is drawn to the need for legislative regulation of the essence of cryptocurrency for further effective evolution.

Hukum Jual Beli Online dengan Sistem Pre Order dalam Perspektif Hukum Islam (Studi Kasus Toko Online Nashrah Store)

This study aimed to know and anlayze the process of buying and selling online with a pre-order system at the Nashrah Store online store according to Islamic law. This study was a qualitative type of research (field research) using a normative and sociological juridical approach. The research showed several things. First, in general, the process of buying and selling with a pre-order system carried out by Nashrah Store is in accordance with the laws governing electronic transaction. Second, the sale and purchase contract carried out by Nashrah Store based on the form and method of payment are to apply a salam contract. As for the final payment method, it does not apply a salam contract, but applies al-wa'd bi al-syira' which is only in the form of a purchase promise.

The Relationship between Decision and Payment Habits and Its Relation with Wasting—Evidence from Hungary

The aim of the study is to explore the relationship between overspending and the method of payment, to highlight its causes. The non-representative survey was conducted between 2020 and 2021 in Hungary (n = 499) using the snowball sampling of data collection. They examined the relationship between age, education, place of residence, and payment methods, and analyzed the impact of internal and external factors on cash consumption and sustainability. The results showed that the use of cash as a method of payment is characteristic with advancing age, and higher education has a higher willingness to pay electronically according to the examined sample, and the existence of electronic access is not related to the size of the settlement. It can be stated that the majority of respondents have no choice when choosing a payment method. The answers reflect confidence in electronic payment solutions (a value of 2.21 on a six-point scale). Each group believes that they can consciously plan their budget (alternative budget). With proper communication and awareness of these influencing factors, financial awareness can be strengthened.

ANALISIS UANG MUKA DALAM AKAD MURABAHAH PADA KREDIT PEMILIKAN RUMAH (Studi Pada BNI Syariah KCP JABABEKA Cikarang Bekasi)

According to the Classical Islamic Literatures, down payment is clearly known as Urban in Arabic, or in Bahasa accepted by Panjar, which means an initial agreed contract into a transaction. Islamic Scholars arguably have different opinions in implementing down payment as a method in the transaction. There are some scholars who do not agree to put down payment as a particular way in the transaction, but others do. However, by exercising the quality of specific reasoning that is applied, and also the fact of the acceptance of the system of transaction, therefore this method of payment is generally accepted. The first objective of this study is to determine the down payment mechanism and implementation of KPR financing with a murabahah contract at BNI Syariah KCP JABABEKA Cikarang Bekasi which is contained in the Griya iB Hasanah product. Second, to find out the settlement steps in case of problematic or bad financing. The three views of Islamic law in the perspective of muamalah fiqh towards down payments in a murabahah contract on a KPR at BNI Syariah KCP JABABEKA Cikarang Bekasi. This type of research is qualitative research. The data used are primary and secondary data. Primary and secondary data were obtained from observations, interviews, documentation, field studies, and from existing literature. The results of this study are advances in murabahah contracts on KPR in BNI Syariah which refer to the DSN-MUI Fatwa Number 13 of 2000 concerning advances in murabahah. It seems that the fatwa is influenced by the thoughts / opinions of Imam Ahmad and his followers who allow buying and selling transactions using advances, then referring to the existing regulations of the OJK, the regulator of BI, that every financing, both conventional and sharia, must have an advance.

Payment of Zakat on Business Using Stock and Goods:A Preliminary Analysis

Zakat is one of the obligations on every Muslim with the aim of helping those who are poor and needy while at the same time purifying the wealth and soul of the contributor. There are several types of zakat and one of them is zakat on business. In discussing Shariah issues related to zakat on business, one of the topics discussed is the method of payment of zakat on business, whether paying with money, stocks or business goods or a choice between the two. In view of the need to pay zakat other than using money, especially in the case of companies which have a shortage of cash and excess unsold merchandise, the study was conducted to obtain information on the debate of scholars on the Shariah rule for payment of zakat with goods, and their potential for application in business zakat payments, in addition to the challenges and constraints in its implementation. The study utilized a comprehensive library study, analyzing the arguments and scholars’ discussions related to the subjectand selecting the preferred opinions. The findings showed that in terms of the payment method for zakat on business, some scholars viewed that the payment of business zakat must utilise money, while some stated that the payment must be in the form of goods and stocks of the business itself, while some others stated that the payment of zakat on business is the right of the contributor to choose from money or goods and stocks. The study also found that there were several issues and challenges in the implementation of zakat payments using business goods, including the existing fatwa on zakat on business that stipulated only money would be accepted as zakat payment and it must be paid to zakat authorities. The study also aimed to determine the type of goods to be accepted as business zakat payments, the method of zakat calculations on the goods and whether it should be at original cost price, current market price or premium or discount, and other issues.

Testing M-Payment for Utilities in Saudi Arabia Barriers and Opportunities for E-Government

This paper explored the opportunities and challenges facing e-government in Saudi Arabia. A prototype mobile phone application for paying different utilities was developed. The respondents were asked to use and evaluate the application. The results revealed that application was user friendly and useful for the users. However, the results showed that respondents showed concern over the security issues and declined to use any untrusted method of payment, displaying a lack of trust in online payment methods.

NON-CURRENT SETTLEMENTS IN THE MODERN ECONOMIC SPACE

The paper considers the development of a system of cashless payments in Russia, as well as in the regional context, using the example of the regions of the Central Black Earth Region and Voronezh Region over the past two years. The concept of non-cash payments and the main advantages of their use (flexibility of payments, transparency of all payments, exclusion of counterfeit banknotes, reduction of costs of economic entities for storage and collection of cash, etc.) are designated. Based on the research data of the SberData project from Sberbank, a comparison is made of regional and average statistics of the country, the level of penetration of cashless payments into the settlement system in 2018-2019 is determined. both at the end of the year and quarterly. It is noted that over 10 years the share of card payments has grown 10 times. Due to the expansion of the spread of non-cash payments and their demand, the share of cash use when paying for most goods and services is less than 50%. Categories were identified in which the population prefers banknotes more and the reasons for choosing this method of payment are determined. The differences between the regions by the percentage of citizens using cashless payments are analyzed. As a result of the analysis, tendencies in the development of cashless payments in the Central Black Earth Region were identified.