Investigating Drivers of Continued BNPL Service Usage and Subjective Well-being Impacts Among China's MZ Generation

The advent of financial technology has introduced innovative payment services like Buy Now, Pay Later (BNPL) that allow consumers, especially younger demographics, flexibility in financing purchases.However, continued patronage factors and consumer welfare impacts of emerging fintech solutions remain underexplored.This study investigates drivers of sustained BNPL usage intentions among 323 Chinese MZ generation consumers based on an integrated Expectation Confirmation Model (ECM) and Unified Theory of Acceptance and Use of Technology (UTAUT2) framework.Variables performance expectancy, facilitating conditions, habit, satisfaction and subjective well-being are found to positively affect continuous usage.Satisfaction also boosts subjective well-being.By evidencing the relationship between BNPL services and consumer well-being, this quantitative evaluation advances limited scholarly understanding of perceptions and motivations underlying ongoing fintech payment adoption in China.