PROMOTING THE INTENTION TO USE BUY NOW, PAY LATER PAYMENT SERVICES: INSIGHTS FOR FINANCIAL INNOVATION
DOI:
https://doi.org/10.62985/j.huit_ojs.vol26.no3E.571Keywords:
Buy Now Pay Later (BNPL), behavioral intention, young consumers, fintech.Abstract
In today's digital economy, innovation is more vital in fostering the development of new financial products and services. It helps firms react to market changes and fulfill the market's increasingly diverse needs, thereby strengthening their competitiveness. As a result, it is critical to investigate the factors that influence individuals' intentions to adopt and use innovative financial solutions. Buy Now Pay Later (BNPL) is a novel financial service that is gaining popularity, contributing to the rapid development of e-commerce and digital financial innovation. This study employed a quantitative approach, with an online survey of young consumers in Ho Chi Minh City. This study is grounded in the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) to explain the behavioral intention to use BNPL. Data were analyzed using SPSS and AMOS software for descriptive statistics, Cronbach's Alpha reliability assessment, exploratory factor analysis (EFA), confirmatory factor analysis (CFA), and structural equation modeling. The study's findings revealed that social influence, promotion, and attitude all had a positive and significant effect on young consumers' intention to use BNPL services. The research findings provide valuable insights for fintech companies, e-commerce platforms, policymakers, and consumers to foster financial innovation and the sustainable growth of BNPL services.
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