<![CDATA[The Indonesian digital economy has encouraged micro-business owners' use of Digital Financial Services (DFS). These services have been widely adopted, but these actors' financial behavior (FB) and well-being (FWB) have not improved. This study analyzes how DFS and SC affect FWB directly and indirectly FB. Financial Literacy (FL), Sharia Financial Literacy (SFL), and Digital Financial Literacy (DFL) moderate the link between DFS and SC with FB. The quantitative survey study targets 300 West Java micro-entrepreneurs. Data was obtained using structured questionnaires and analyzed using SEM-PLS. Both DFS and SC positively and dramatically affect FB and FWB. FB also boosts FWB and mediates DFS–FWB and SC–FWB interactions. Moreover, FL, SFL, and DFL amplify the impact of DFS on FB. In the association between SC and FB, FL and SFL function as important moderators, whereas DFL does not moderate this association. The findings indicate that enhancing the financial well-being of micro-entrepreneurs is affected by access to digital financial services and social resources, as well as the quality of their financial behavior and their level of literacy.]]>
Copyrights © 2026
