The Influence of Perceived Risk on Impulsive Buying among Student Users of Shopee PayLater
Main Article Content
Abstract
Buy Now Pay Later (BNPL) services such as Shopee PayLater have rapidly reshaped how university students manage their spending, raising questions about whether the risks attached to such services can restrain impulsive consumption. This study examines the influence of perceived risk on impulsive buying behavior among students at Universitas Pendidikan Indonesia, Tasikmalaya Campus, who use Shopee PayLater. A quantitative associative design was employed with 100 respondents selected through purposive sampling, determined using the Lemeshow formula. Data was collected through a five-point Likert questionnaire and analyzed using simple linear regression. Instrument testing confirmed that 16 items measuring perceived risk and 15 items measuring impulsive buying were valid and reliable, with Cronbach's Alpha values of 0.917 and 0.912 respectively. The classical assumption tests indicated that the regression model was normally distributed, linear, and free from heteroscedasticity. The regression equation Y = 83.515 − 0.716X, with a t-value of −14.196 (p < 0.001) and an adjusted R² of 0.669, confirms that perceived risk has a significant negative effect on impulsive buying. These findings suggest that students' awareness of financial, performance, and privacy risks functions as a psychological restraint that curbs impulsive spending through PayLater services.
Downloads
Article Details
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
References
Accenture. (2023). Global payments: Consumer trends and digital spending behavior. Accenture.
Agarwal, S., & Zhang, J. (2020). FinTech, lending and payment innovation: A review. Asia-Pacific Journal of Financial Studies, 49(3), 353–367. https://doi.org/10.1111/ajfs.12294
Antara News. (2024, September 6). OJK: Gen Z-milenial sumbang 37,17 persen kredit macet pinjaman online. ANTARA News. https://www.antaranews.com/berita/4313995/ojk-gen-z-milenial-sumbang-3717-persen-kredit-macet-pinjaman-online
Beatty, S. E., & Ferrell, M. E. (1998). Impulse buying: Modeling its precursors. Journal of Retailing, 74(2), 169–191. https://doi.org/10.1016/S0022-4359(99)80092-X
Cornelli, G., Gambacorta, L., & Pancotto, L. (2023). Buy now, pay later: A cross-country analysis. BIS Quarterly Review, December 2023, 61–75.
Cronbach, L. J. (1951). Coefficient alpha and the internal structure of tests. Psychometrika, 16(3), 297–334. https://doi.org/10.1007/BF02310555
Featherman, M. S., & Pavlou, P. A. (2003). Predicting e-services adoption: A perceived risk facets perspective. International Journal of Human-Computer Studies, 59(4), 451–474. https://doi.org/10.1016/S1071-5819(03)00111-3
Ghozali, I. (2021). Aplikasi analisis multivariate dengan program IBM SPSS 26. Badan Penerbit Universitas Diponegoro.
Grand View Research. (2025). Buy now pay later market size, share & trends analysis report, 2025–2033. Grand View Research.
Jacoby, J., & Kaplan, L. B. (1972). The components of perceived risk. Advances in Consumer Research, 3, 382–393.
Katadata Insight Center. (2024). Profil pengguna aktif PayLater di Indonesia 2024. Katadata Insight Center.
Kredivo. (2024). Shopping behavior and digital financial trends in Indonesia 2024. Katadata & Kredivo.
Kumar, A., Salo, J., & Bezawada, R. (2024). The effects of buy now, pay later (BNPL) on customers' online purchase behavior. Journal of Retailing and Consumer Services, 77, 103708. https://doi.org/10.1016/j.jretconser.2023.103708
Lwanga, S. K., & Lemeshow, S. (1991). Sample size determination in health studies: A practical manual. World Health Organization.
Mahardisatya, A. W., dkk. (2024). Pengaruh shopping lifestyle dan penggunaan e-wallet terhadap perilaku impulsive buying mahasiswa UNNES. Jurnal Potensial, 3(2), 203–215.
Majeed, M., & Samorin, S. (2025). Consumer perception of risk in buy now pay later adoption. Journal of Consumer Behaviour. Advance online publication.
Montgomery, D. C., Peck, E. A., & Vining, G. G. (2012). Introduction to linear regression analysis (5th ed.). Wiley.
Mordor Intelligence. (2024). Buy now pay later market: Growth, trends, and forecast. Mordor Intelligence.
Precedence Research. (2025). Buy now pay later market size and forecast, 2025–2035. Precedence Research.
Redine, A., Kavota, J. K., & Boubaker, S. (2023). Impulse buying: A systematic literature review and future research directions. International Journal of Consumer Studies, 47(3), 890–911. https://doi.org/10.1111/ijcs.12922
ResearchAndMarkets. (2025). Indonesia buy now pay later business and investment opportunities databook. ResearchAndMarkets.
Rook, D. W. (1987). The buying impulse. Journal of Consumer Research, 14(2), 189–199. https://doi.org/10.1086/209105
Rook, D. W., & Fisher, R. J. (1995). Normative influences on impulsive buying behavior. Journal of Consumer Research, 22(3), 305–313. https://doi.org/10.1086/209452
Sugiyono. (2019). Metode penelitian kuantitatif, kualitatif, dan R&D (2nd ed.). Alfabeta.
UnaFinancial. (2024). Buy now, pay later market in Southeast Asia set to exceed $50 billion by 2027. UnaFinancial.
Verplanken, B., & Herabadi, A. G. (2001). Individual differences in impulse buying tendency. European Journal of Personality, 15(S1), S71–S83. https://doi.org/10.1002/per.423
Worldpay. (2024). The global payments report 2024. Worldpay.
Zhao, Y., Li, Y., Wang, N., Zhou, R., & Luo, X. (2022). A meta-analysis of online impulsive buying and the moderating effect of economic development level. Information Systems Frontiers, 24(5), 1667–1688. https://doi.org/10.1007/s10796-021-10170-4