Fintech dan Potensi Riba: Analisis Kritis Perspektif Fikih Muamalah

Abstract

The transformation brought about by financial technology (fintech) has driven significant changes in the public’s transaction and financing patterns, including through ‘buy now, pay later’ (BNPL) services. Shopee PayLater offers the convenience of deferred payment, but its mechanism raises concerns regarding compliance with Sharia principles, particularly concerning the potential for riba. This study aims to analyse the potential for elements of riba in the Shopee PayLater mechanism from the perspective of fiqh al-muamalah. The study employs a qualitative approach using library research methods, involving the analysis of academic literature, regulations, fatwas and related documents. The results indicate that interest, service charges and late payment penalties may potentially contain elements of riba nasi’ah due to the inclusion of additional payments linked to the deferral of obligations. These findings highlight the need to evaluate the structure of contracts and digital financing mechanisms to ensure they align with Sharia principles. This study contributes to the development of contemporary muamalah fiqh in responding to digital financial innovations and to strengthening the public’s Sharia financial literacy.