ANALYSIS OF THE USING OF E-MONEY IN INDUSTRIAL REVOLUTION 4.0

Recently, the financial technology (fintech) issue has risen in significance impact. Thus, it cannot be denied, fintech has been involved in daily transaction. It is such as payment, bonds transaction, loan, and other. The society tends to use the non-cash transaction because it gave convenience and time efficiency. The aim of this research is to discuss how the law of the use of E-Money (Electronic money) in non-cash transaction in Indonesia. The method was conducted by library research. The findings of the research; there are the different opinions among academicians and ulamas. The first opinion is based on Hanafi Madzhab and the second opinion is based on Syafei madzhab. The Hanafi Madzhab allows the Electronic money without any doubt, but Syafei Madzhab elaborates that in muamalah transaction so there must be a clear Akad in every transaction. Keyword: E-Money, Non-Cash Transaction, Fintech I.A. Introduction In the past, when we wanted to do something like this, eating something we want then we need to go to the restaurant to get the food we want. Likewise when we want to buy our clothes the current goes to the market to pick the clothes we want. But this is not we need to do it because for the present time it's enough to press wrong one application in our cellphone is our food and clothes we want we can have it even directly we can get it without our need go to restaurants or markets. The items we want will also be delivered to house. At the present time to make any payment we do not need to come to the destination because both banks and other business organizations provide a system that makes it easier for consumers to make payment transactions. One example is that almost all service banks provide mobile banking services. With this application we can find out how much money we have in the Bank, can also transfer money to other accounts. Including buying electricity tokens, we only need to buy through the mobile banking. With the convenience, customers are expected to be comfortable in financial transactions in the banking world. Currently the aviation and transportation industry also serves the ticket trading system online. Payment is via transfer or credit card usage. Even to buy a ticket to I-Economics: A Research Journal on Islamic Economics ISSN 2548-5601, e-ISSN 2548-561X Vol. 5. No 2. Desember 2019 website:http://jurnal.radenfatah.ac.id/index.php/ieconomics 165 watch a movie, you are now using online ticket booking, and you can already choose a seat to watch a movie without going to the cinema directly and waiting in line. This period was named after the Industrial Revolution 4.0. The period of the Industrial Revolution 4.0 is besides having positive and negative impacts. Industry term 4.0. is known from the effects of "Internet of things" where the development of the internet, technology, and machinery became a movement to replace human power. Therefore, nowadays many companies use capital intensive rather than labor intensive. This caused many job vacancies to be replaced with machines so that there was a lot of unemployment. This is one of the negative effects of the 4.0 industrial revolution. The positive impact is the ease in every activity that we do. One of them is the traffic as previously stated. 4.0 industrial revolutions also change the payment system that we usually use cash (cash) now through transfer only. This caused the current payment system to use emoney (electronic money) to develop very rapidly. In the provisions of Bank Indonesia Regulation Number 11/12 / PBI / 2009 concerning Electronic Money in the provisions of Article 1 Paragraph 3, "Electronic Money is a payment instrument issued on the basis of money deposited in advance by the holder to publisher1. Based on Bank Indonesia Payment System Statistics, up to December 2017 the amount of electronic money reached 90 million instruments, this number declined from 113 million in November. However, compared to December 2016 which was 51 million, This number has almost doubled, in terms of transactions, the nominal per December 2017 reached Rp. 11.5 trillion or a 64% growth compared to December 2016 which was valued at Rp. 7.06 trillion, which doubled compared to growth from 2015 to 2016 which amounted to 33.7%. The rapid growth is also seen in the electronic money infrastructure. In December 2016 the number of reading machines was still 374,861. However, at the end of 2017 the number jumped to 691,331 pieces2 the development of electronic money has continued to continue until now. In the concept of Islamic economics, there are several differences of opinion from the scholars. At the Hanafi school it allows the use of electronic money but not for the Syafei 1 Bank Indonesia. (2009). Explanation Of Bank Indonesia Regulation Number 11/12 / PBI / 2009 Concerning Electronic Money. Jakarta, Indonesia: Bank Indonesia. 2 www.bisnistempo.com, accessed March 15, 2019 editor Ali Akhmad Noor Hidayat I-Economics: A Research Journal on Islamic Economics ISSN 2548-5601, e-ISSN 2548-561X Vol. 5. No 2. Desember 2019 website:http://jurnal.radenfatah.ac.id/index.php/ieconomics 166 school. Madhab Syafei asserted that in the Islamic concept everything must be clear especially in the contract. There are items that are used as proof of payment. Especially at the time of the Prophet and his companions there was no payment using electronic money. This study tries to explain the history of the use of money since the time of the Prophet Muhammad and how the law of E-money use is in the opinion of scholars. What are the positive and negative effects of using E-Money itself. So the title of this research is Analysis of the Use of E-Money in the Era of Industrial Revolution 4.0. II.Research Methodology This research uses Library research. Library research is the research whose findings are obtained by looking for data from various literature and references related to the material discussed. The method of research is qualitative where the findings are not through statistical procedures or other findings. We carry out data collection techniques by conducting research on various literatures conducted to find concepts that have relevance to the topic of discussion through assessment books, journals, magazines, and opinions of experts indirectly.3 III.Previous Related Study We as researchers are not the first to examine the impact of e-money. Before we had many researchers who conducted research on E-money, the aspects discussed by each researcher differed. One of them is Putri Nela Hapsari (2017) conducting a research entitled "Analysis of the Effect of E-money Usage & Substitution of E-Money Transactions on Cash Transactions in Indonesia. The results of his research show that the use of E-Money in Indonesia continues to increase along with the development of infrastructure that continues to be developed. Different from Putri Luthfan Darma Prasetia4 doing research on E-money but with different aspects. The title of his research is "The Effect of Using Electronic Money on Money Turnover in Indonesia". Asil this research proves that there is a significant influence between the use of e-money on money turnover in Indonesia. 3 Muamar, Afif dan Ari Salman Al-farizi. 2017. Electronic money (e-money) in thep erspective of maqashid sharia. Journal Of Islamic Economics Lariba Vol. 3 issue : 2, page 76 4 Luthfan, Putri Prasetia 2018. Effect of Using Electronic MoneyAgainst Money Turnover in Indonesia I-Economics: A Research Journal on Islamic Economics ISSN 2548-5601, e-ISSN 2548-561X Vol. 5. No 2. Desember 2019 website:http://jurnal.radenfatah.ac.id/index.php/ieconomics 167 In addition there are researchers who discuss the impact of using E-money on credit card usage. Laila Ramadani (2016) is a researcher who did it. Others take the research title, "The Effect of Using Debit Cards and Electronic Money on Student Consumption". The results of his research prove that there is a positive introduction between debit cards and electronic money on student consumption expenses. This means that the greater the use of debit cards and electronic money, the greater the student consumption expenditure5. The discussion about the existence of a Credit Card after E-money was discussed by Pranoto and Salma in 2018 with the research title "The Existence of a Credit Card with E-money as a Payment Instrument Legitimate". The results of his research prove that credit cards are less than before E-money6. Research that discusses the law of using E-money in our country is also widely studied by Made Nurmawatu and Dewa Made Krishna. In the abstract of their research, it was stated that E-money is a payment instrument that has been approved by our country7. Aris Rudiyanto conducted a research entitled "Review of Sharia Principles on Bank Syariah Mandiri E-Money Products". Results of his observations prove that from sharia principles there are sharia problems in the aspect of contract, this is because this product does not have contract nomenclature in product operations which creates uncertainty (gharar), as well as transaction aspects because the bank does not restrict or control goods sold by merchants who collaborated with the bank so it was feared that it could be used to buy goods that were not halal8. B. LITERATURE REVIEW Definition of Money according to Islam Etymologically, the definition of money (nuqud) is: 2. Al-Naqdu: i.e. good from the dirham 5 Ramadani, Laila. 2016. The Effect of Using Debit Cards and Electronic Money on Student Consumption 6 Pranoto dan Salma Sekar Salsabila. 2018. The Existence of a Credit Card with the existence of Electron Money Technology as an Authorized Payment Instrument. Privat Law. Vol 6 No. 1 7 Made, I Dewa dan Made Nurmawati. 2017. E-Money Legality As A Tool Legitimate Payments Enter the Freeway. Fakultas Hukum Universitas Udayana 8 Rudiyanto, Aris. 2017. Sharia Principles Review of E-Money Products Bank Syariah Mandiri., Skripsi. UIN Syarif Hidayatullah I-Economics: A Research Journal on Islamic Economics ISSN 2548-5601, e-ISSN 2548-561X Vol. 5. No 2. Desember 2019 website:http://jurnal.radenfatah.ac.id/index.php/ieconomics 168 3. Al-Naqdu is cash (the opposite of delay) which is giving a fee immediately. In the jabir hadith it is stated that "Naqadani at-tsaman" is to pay me in cash and then use the items already paid including the use of the word masdar. Arabs at the time of the Prophet did not know the word Nuqud they used the word Dinar and dirham as a medium of exchange. As much as fulus is a copper money which is also extra money to buy cheap items. The meaning of dinar and dirham are a). Dinar is a form of the Roman language, namely the word Denarius, which means mold gold; b) The dirham comes from Greek, Drachma which means silver mold. Muslim scholars Al-ghazali and Ibn Khaldun money can be interpreted as everything used as (1)Standard size of price value (2)Media transactions (3)Value storage media. From the explanation above, we can conclude that the most important functionof money is not the form of money itself. Gold money was issued by King Dinarius of the Roman Empire. Gold money itself has a stable value. This also applies to the dirhams originating from Persia, precisely from Sasanid's confession. Therefore, although not published by the Islamic state Rasululla SAW used it as a medium of exchange9. Definition of Money in Conventional Science According to Abdul Mukhi10 Money in traditional economics is defined as any medium of exchange that is generally accepted. In modern economics, money is defined as something that is available and generally accepted as a means of payment for the purchase of goods and services and other valuable assets as well as for payment of debt11. There are several kinds of functions of money including: 1. Exchange instruments or medium of exchange that can facilitate exchange. 2. The unit of account is used to show the value of various types of goods / services that are traded, shows the amount of wealth, and calculates the size of the loan, also used to determine the price of goods / services (means of price). 9 Susanti, Resi. 2017. History of Money Transformation in Islam. Jurnal Aqlam. Vol.2 No.1, page 34-35. 10 Fadilla. 2016. Effect of Accounting Value on Student Financial Management (STEBIS IGM). Journal of Ecoment Global. Vol.1 No.2. 11 Ibid I-Economics: A Research Journal on Islamic Economics ISSN 2548-5601, e-ISSN 2548-561X Vol. 5. No 2. Desember 2019 website:http://jurnal.radenfatah.ac.id/index.php/ieconomics 169 3. Currency storage equipment because it can be used to divert purchasing power from the present to the future. 4. Standard payment in the future (standard of demand payment). Economic experts have understood the standard of an object can be made as money. The object must meet several requirements, including gardening conditions: a) Must be accepted generally (acceptability); b) Has a high value or guaranteed existence by the ruling government; c)Material made into money must also be durable (durability); d) the quality tends to be the same (uniformity); e)the amount can meet the needs of the community; f) scarcity; g)Must be portable (portable) and easy to share without reducing the value (divisibility); h) has a value that tends to be stable over time (stability of valueAs for the type of money itself, it is divided into several types, namely according to the form, the type of the ingredients and the value. Distribution of money by type includes: a) Currency (often also called common money) is a legitimate payment instrument and must be used by the public in carrying out daily transactions; b) demand money, is money owned by the community in the form of deposits (deposits) that can be withdrawn as needed. History of Money Printing 1. The period of the Prophet Muhammad When the Prophet Muhammad SAW was sent as a prophet and Apostle, he established what had become the tradition of the Meccan population. He ordered the residents of Medina to follow the size of the scale of the population of Mecca when they transacted using dirhams in numbers instead of scales of the Prophet Muhammad said: "Scales are the scales of the inhabitants of Mecca and the doses of the inhabitants of Medina" Because of this order there was a difference in the amount of dirhams in Persia because there were 3 forms of money printing, namely: 20 carat size, 12 carat Kuran and 10 carat size. Then it was set in the Islamic dirham to be 14 carats by dividing everything by an average of 3. By calculation = 14 This value is equal to the daniqsesi value with 7 mitscal in the present time equated with grams. 2. Period of Caliph Rashidin I-Economics: A Research Journal on Islamic Economics ISSN 2548-5601, e-ISSN 2548-561X Vol. 5. No 2. Desember 2019 website:http://jurnal.radenfatah.ac.id/index.php/ieconomics 170 a. Abu Bakr: During the reign of the Caliph of Abu Bakr the state of the form of money was still the same as the period of the Prophet Muhammad, namely using the Dinnar currency and dirham. b. Ummar Bin Khatab: In the year 18 H that is when the Caliph Ummar was printed the Islamic dirham. Caliph Ummar does important things in money matters such as: 1. Printing of dirham money with features that show Islam. At this time the form of money was almost the same as Persia but there were additional writings such as "Al-hamdulillah". 2. Dirham standards are defined as equal to the original 1 dirham equal to 7/10 dinars or equivalent to 2.97 grams with a standard basis of dinar value of 4.25 grams. 3. Made in other forms of money, namely animal skin with the idea that the basic ingredients of animal skin are easy to down, but that is undermined because many friends disagree with the consideration that the skin cannot be used as a standard of assessment because of fluctuating leather prices. Finally the Caliph Ummar sets the standard of the Dinnar coin and the dirham weighing 7 dinnars is equal to 10 dirhams. The gold dinar standard uses 22 carats and weighs 4.25 grams. While the dirham must use 3.0 grams of pure silver. This decision was determined by the scholars at that time. c. Uthman ibn Affan; At this time the development of printing dinas and dirhams by modifying them by using Islamic symbols. Inside the dinnar money is written "Allahu akbar". At the boundary of the coin there are words of kuffi script which means "Grace with Allah's asthma, with my Lord's asthma for Allah and Muhammad. d. Ali bin Abi Talib: At the time of the Caliph Ali printing the dirham following the Caliph Ustman bin Affan only wrote in one of his circles the sentences of Bismillah, Bismillah Rabbi, and Rabiyallah with the writings of kufi. 3. The Age of the Umayyad Dynasty Printing money on the Umayyad Dynasty since Muawiyah bin Abi Sofyan still continued the Sasanid model by adding a few words monotheism. In the year 76 H Abdul Malik bin Marwan made a currency that breathed its own Islamic model. Abdul Malik is able I-Economics: A Research Journal on Islamic Economics ISSN 2548-5601, e-ISSN 2548-561X Vol. 5. No 2. Desember 2019 website:http://jurnal.radenfatah.ac.id/index.php/ieconomics 171 to realize political and economic stability, reduce counterfeiting and manipulation of currencies. Even when Abdul Malik and Hisham bin Abdul Malik even punished people who falsified money with 1,000 lashes and more than 100 people. In the end Dinnar in the Ummayyah Dynasty was famous for being smooth, accurate and pure. 4. During the Abbasid Period and thereafter. During the Abbasid period the printing of money still continued the printing system during the Ummayah period. At the time of Al-Saffah the dirham was initially reduced to one item then reduced by one item then continued with 2 items, continuing during the Abu jafar Al-Mansur period. During the Dinansti Fathimiyah period, the mixed dirhams caused a lot of mixed dirhams so that the value dropped. During the Shalahudian Al-Ayyubi gold raw material was insufficient for dinar printing, this was caused by war. Because the main currency was not pure as well as silver and even half of it was copper, the printing of money like this continued during the time of the Children of Job. During the Mamalik administration, copper money printing was widespread. Even king Al-Zhahir Barquq and his son Fajr, copper money became the main currency because: 1) Silver sales in European countries; 2)Copper imports from European countries; 3)Increased consumption of silver12. Applicability of Banknotes In 1839 the Ottoman government issued a banknote-shaped currency with the name gaima, but its value continued to decline because the people did not trust it. In World War 1 in 1914 Turkey and other countries imposed banknotes as legitimate payment instruments and canceled the entry of gold and silver money. Since then paper money has been recognized as a payment tool throughout the world13. Since then paper money has been recognized as a legitimate means of payment as well as being recognized as a form of wealth. Paper money itself has several advantages and disadvantages. As for the excess paper money: Easy to carry; issuance costs are smaller than coins; and can be divided in any number. Besides the excess paper money also has several disadvantages, among others:a) Exchange rate stability is not guaranteed; b) The printing of 12 Susanti, Resi. 2017, History of Money Transformation in Islam. Jurnal Aqlam. Vol.2 No.1, p.ages 37-39


I.A. Introduction
In the past, when we wanted to do something like this, eating something we want then we need to go to the restaurant to get the food we want. Likewise when we want to buy our clothes the current goes to the market to pick the clothes we want. But this is not we need to do it because for the present time it's enough to press wrong one application in our cellphone is our food and clothes we want we can have it even directly we can get it without our need go to restaurants or markets. The items we want will also be delivered to house.
At the present time to make any payment we do not need to come to the destination because both banks and other business organizations provide a system that makes it easier for consumers to make payment transactions. One example is that almost all service banks provide mobile banking services. With this application we can find out how much money we have in the Bank, can also transfer money to other accounts. Including buying electricity tokens, we only need to buy through the mobile banking.
With the convenience, customers are expected to be comfortable in financial transactions in the banking world. Currently the aviation and transportation industry also serves the ticket trading system online. Payment is via transfer or credit card usage. Even to buy a ticket to watch a movie, you are now using online ticket booking, and you can already choose a seat to watch a movie without going to the cinema directly and waiting in line. This period was named after the Industrial Revolution 4.0.
The period of the Industrial Revolution 4.0 is besides having positive and negative impacts. Industry term 4.0. is known from the effects of "Internet of things" where the development of the internet, technology, and machinery became a movement to replace human power. Therefore, nowadays many companies use capital intensive rather than labor intensive. This caused many job vacancies to be replaced with machines so that there was a lot of unemployment. This is one of the negative effects of the 4.0 industrial revolution.
The positive impact is the ease in every activity that we do. One of them is the traffic as previously stated. 4.0 industrial revolutions also change the payment system that we usually use cash (cash) now through transfer only. This caused the current payment system to use emoney (electronic money) to develop very rapidly. In the provisions of Bank Indonesia

III.Previous Related Study
We as researchers are not the first to examine the impact of e-money. Before we had many researchers who conducted research on E-money, the aspects discussed by each researcher differed. One of them is Putri Nela Hapsari (2017)  there are sharia problems in the aspect of contract, this is because this product does not have contract nomenclature in product operations which creates uncertainty (gharar), as well as transaction aspects because the bank does not restrict or control goods sold by merchants who collaborated with the bank so it was feared that it could be used to buy goods that were not halal8.

Definition of Money according to Islam
Etymologically, the definition of money (nuqud) is: 2. Al-Naqdu: i.e. good from the dirham 5  3. Al-Naqdu is cash (the opposite of delay) which is giving a fee immediately. In the jabir hadith it is stated that "Naqadani at-tsaman" is to pay me in cash and then use the items already paid including the use of the word masdar.
Arabs at the time of the Prophet did not know the word Nuqud they used the word Dinar and dirham as a medium of exchange. As much as fulus is a copper money which is also extra money to buy cheap items. The meaning of dinar and dirham are a). Dinar is a form of the Roman language, namely the word Denarius, which means mold gold; b) The dirham comes from Greek, Drachma which means silver mold. Muslim scholars Al-ghazali and Ibn Khaldun money can be interpreted as everything used as (1)Standard size of price value (2)Media transactions (3)Value storage media. From the explanation above, we can conclude that the most important functionof money is not the form of money itself. Gold money was issued by King Dinarius of the Roman Empire. Gold money itself has a stable value. This also applies to the dirhams originating from Persia, precisely from Sasanid's confession.
Therefore, although not published by the Islamic state Rasululla SAW used it as a medium of exchange9.

Definition of Money in Conventional Science
According to Abdul Mukhi10 Money in traditional economics is defined as any medium of exchange that is generally accepted. In modern economics, money is defined as something that is available and generally accepted as a means of payment for the purchase of goods and services and other valuable assets as well as for payment of debt11.
There are several kinds of functions of money including: 1. Exchange instruments or medium of exchange that can facilitate exchange.
2. The unit of account is used to show the value of various types of goods / services that are traded, shows the amount of wealth, and calculates the size of the loan, also used to determine the price of goods / services (means of price). 4. Standard payment in the future (standard of demand payment). Economic experts have understood the standard of an object can be made as money. The object must meet several requirements, including gardening conditions: a) Must be accepted generally (acceptability); b) Has a high value or guaranteed existence by the ruling government; c)Material made into money must also be durable (durability); d) the quality tends to be the same (uniformity); e)the amount can meet the needs of the community; f) scarcity; g)Must be portable (portable) and easy to share without reducing the value (divisibility); h) has a value that tends to be stable over time (stability of valueAs for the type of money itself, it is divided into several types, namely according to the form, the type of the ingredients and the value. Distribution of money by type includes: a) Currency (often also called common money) is a legitimate payment instrument and must be used by the public in carrying out daily transactions; b) demand money, is money owned by the community in the form of deposits (deposits) that can be withdrawn as needed. This value is equal to the daniqsesi value with 7 mitscal in the present time equated with grams.

Applicability of Banknotes
In 1839 the Ottoman government issued a banknote-shaped currency with the name gaima, but its value continued to decline because the people did not trust it. In World War 1 in 1914 Turkey and other countries imposed banknotes as legitimate payment instruments and canceled the entry of gold and silver money. Since then paper money has been recognized as a payment tool throughout the world13.
Since then paper money has been recognized as a legitimate means of payment as well as being recognized as a form of wealth. Paper money itself has several advantages and disadvantages. As for the excess paper money: Easy to carry; issuance costs are smaller than coins; and can be divided in any number. Besides the excess paper money also has several disadvantages, among others:a) Exchange rate stability is not guaranteed; b) The printing of 2. The value of money is stored electronically on a media server or chip; 3. Used as a means of payment to traders who are not publishers of electronic money; 4. The value of electronic money managed by the issuer is not a deposit as referred to in the law governing banking ".

The Purpose of Using E-Money
The purpose of using E-money such as: to simplify the payment process by facilitating the transaction; optimizing people's purchasing power and at the same time increasing the ability of people's purchasing power; and increasing government revenues 16 There are several types of electronic money, these types of electronic money include: a)Issuance and refill of electronic money. Before the publisher publishes electronic money, the issuer will first fill the money value into electronic media that will be used as electronic money. Then if the electronic money value held by the holder has expired, the holder can top up;b) payment transactions with electronic money are principally carried out by exchanging the value of money in electronic money with goods or services between holders and sellers using the protocol that has been predetermined.19

Electronic Money Transaction Mechanism (E-Money)
The implementation of electronic money is specifically regulated in Bank Indonesia Multi Operators has more than one Issuer that issues electronic money20.
In simple terms, electronic money transactions begin when the holder exchanges cash with the issuer (Issuer), then the issuer will give electronic money to the holder with an amount equal to the money deposited by the holder to the issuer. After the holder gets electronic money, the holder can use it for payment transactions to the merchant (Merchant) directly the value of the holder's electronic money will be reduced after the holder makes a payment transaction. Then the merchant (Merchant) can exchange the value of electronic money obtained from the holder to the issuer (Issuer).

Legal Use of Sharia E-Money
In Islam, basically the use of all kinds of Muamalah is basically allowed as long as it does not conflict with sharia principles. As stated in the rules of fiqh: Something that applies based on custom is the same as something that applies based on syara (as long as it does not conflict with sharia).
Elements that forbid if the transaction contains several elements that are prohibited in Islam, namely; Maisyir (gambling); gharar (obscurity); usury; unlawful goods; tadlis (fraud)21 In Money is closely related to assets, because money is basically human property.
Property is one of the core needs in life, where humans cannot be separated from it. Allah SWT has faith in QS. Al-Kahf (18): 46 which means: "Assets and children are jewelry of the life of the world but deeds that are eternal are virtuous is better reward on the side of your Lord and better to be hope". Keeping property is one important element because it relates to the benefit of wealth. According to Ahmad Al-Mursi Husain Jauhar, in maintaining or maintaining property there are three important requirements that must be considered, namely: 1) requiring that assets must be collected in a lawful way, meaning that they are not obtained by stealing, cheating, etc ; 2) Property used for lawful matters; 3) and from this property, the right of God and the community where he lives must be excluded. After all three conditions are met; one can enjoy his property wholeheartedly, but without waste because waste is inversely proportional to hifdzul mal.
From the information and the hadith above, many ulama argue that the use of Electronic money as a legal and legal payment instrument is used. This is because in the study of Fiqh everything is lawful and adjusted to the times as long as it does not conflict with sharia principles.
Therefore, the National Sharia Council (DSN) issued fatwah which regulates the use of E-Money, namely: 1. Electronic money is a payment instrument that meets the following conditions: a. Issued on the basis of the nominal amount of money paid in advance to the issuer; b. The nominal amount of money is stored electronically in a registered media; c. The amount of nominal electronic money managed by the issuer is not a deposit as referred to in the law governing banking d. Used as a means of payment to traders who are not publishers of electronic money.  (3). Thus, with the existence of these functions in electronic money it is in accordance with the concept of money in Islam.
Third, not causing excessive expenditure, this can be proven by the existence of a maximum limit on the value of electronic money. The maximum value of electronic money is five million Rupiah for registered types of electronic money, while for unregistered electronic money the maximum is one million Rupiah28 the existence of a relatively small limit on the value of electronic money will not encourage the public (holders) to be consumptive (excessive expenditure) and minimize losses from misuse of electronic money.

Legal Use of Electronic Money in Indonesia
Indonesia is not an Islamic country even though some of its population embraces Islam. Second, the relatively small limit on the value of electronic money will not encourage the public (holders) to be consumptive (excessive expenditure) and minimize losses from misuse of electronic money in accordance with the regulations of Bank Indonesia. It is registered electronic money types, while unregistered electronic money is at most one million Rupiah34.
The three advantages of electronic money (E-Money) provide benefits to its users in maintaining the assets they obtain without breaking the boundaries in sharia activities seen from the fulfillment of the elements of benefit (Maslahah) namely compliance with Sharia (Halal), useful and giving benefits (thoyib), and does not cause harm.35