ANALISIS IMPLEMENTASI DAN TRANSPARANSI MEKANISME TRANSAKSI FITUR PAYLATER PADA PLATFORM DIGITAL DALAM PERSPEKTIF HUKUM EKONOMI ISLAM

Abstract

This study analyzes the implementation and transparency of PayLater transaction mechanisms on digital platforms in Indonesia, specifically Shopee, OVO, Kredivo, and GoPay from the perspective of Islamic economic law. As a buy now pay later (BNPL) service, PayLater has grown rapidly alongside the expansion of financial technology and the increasing preference for cashless transactions. Using a qualitative descriptive-analytical approach through library research, this study examines scholarly literature, official regulatory documents, platform terms of service, and relevant fatwas issued by DSN-MUI. The findings indicate that while PayLater services share similar operational flows registration, digital identity verification, credit limit determination, transaction execution, and installment repayment they differ significantly in cost structures, interest rates, late-payment penalties, and the degree of information disclosure. From the perspective of Islamic economic law, PayLater mechanisms raise several shari'a concerns, particularly regarding ambiguous contractual formulation (ta'yīn al-'aqd), elements of gharar (uncertainty), and additional charges that closely resemble ribā nasī'ah. Nevertheless, transparent contractual arrangements and adequate regulatory frameworks could potentially reduce these concerns. With stronger disclosure obligations and adjustments toward Islamic financial principles, PayLater services could evolve into practical financial products that are also shari'a-compliant.