Assessing Data Sharing Risk in Cross-Border Payments: Insights from Institutional Experts (International Journal of Advances in Data and Information Systems)

Summary

• A total of 16 jurisdictions (22%) lack agreements or concrete plans for information sharing regarding cross-border payment risks.p.2
• The systematic literature review identified an initial set of 2.238 studies across five major academic databases.p.3
• Out of 23 studies evaluated using the Quality Assessment Checklist, 8 studies achieved a quality score of 3 or higher.p.4
• The study engaged 10 institutional experts across government, payment authorities, and academia for the Fuzzy Delphi Method panel.p.5
• In Round 1 of the Fuzzy Delphi Method, 11 of the 19 evaluated risk factors failed to meet consensus criteria.p.6

Key insights

1. Institutional experts identified technological and cybersecurity risks as the primary vulnerabilities affecting cross-border data sharing and data sovereignty in Indonesia.p.6
2. Four risk factors were rejected in Round 1 because they failed to achieve the 75% expert agreement threshold despite meeting the threshold distance criterion.p.6
3. Macroeconomic, regulatory, and cultural risk factors such as geopolitical instability and consumer attitudes toward cashless payments failed to reach expert consensus.p.6
4. Integrating elliptic curve cryptography and digital signatures is proposed to mitigate information transmission security risks in cross-border payments.p.7