Financial Literacy, Risk Perception, and Paylater Adoption: A TPB Analysis

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Descriptive analysis reveals factors influencing Paylater use intention among millennials, highlighting risks and social influences.

Only 44.85% of respondents demonstrated strong financial literacy, indicating a gap in financial understanding among millennials.
Financial literacy does not directly influence the intention to use Paylater, as perceived risks hold more significance.
Descriptive analysis and SEM-PLS were utilized to assess the relationship between financial literacy, risks, and intentions toward Paylater use in millennials across Jabodetabek region in Indonesia now showing remarkable results despite financial gaps in knowledge and behavior weaknesses maintained by them toward this service offering greater power under accrual risks involved across various layers toward their individual financial intentions setting forth predicaments to observe in practicing their decisions towards adapting for newer facilities on conservative grounds outlined here that as long as there’s social pressure present it can ensure efficient performance in setting aims toward alternate engagements while managing risk levels associated, which if featured accurately can build more acceptance in the long run with sustained measure levels compared against traditional banking methods. They largely prefer conditions of acceptance limiting associated borrowing risks indicated under poor understanding or situational awareness, suggesting necessary improvements in financial education within this demographic to avoid misunderstandings in future intent management.

Octaviana et al. (2024) studied this question.

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