The intention to use “Buy Now Pay Later” (BNPL) services among UUM alumni

The introduction of the “Buy Now Pay Later” (BNPL) service as one of the electronic payment methods due to the expansion of e-commerce, technological advances, and the widespread acceptance of digital payment methods. BNPL allows the consumer to purchase products or services by splitting the total payment into periodic instalments without incurring any interest but it is subject to processing fees and late payment fees depending on the BNPL provider itself. In recent years, BNPL has gained in popularity and managed to increase the number of users. According to Research and Market (2023), the BNPL Gross Merchandise Value in Malaysia is forecasted to rise US$4.3 million in 2028 compared to US$2.0 million in 2022. However, the growth of BNPL raises concerns about potential overspending, defaulting repayment and encourages debt accumulation. Therefore, identifying the variables influencing Consumer Buying Behavior regarding the utilization of BNPL services becomes the reason for conducting this study. The study employed quantitative approach using an online questionnaire. The underpinning theory for this study is the Theory of Planned Behavior (TPB) supported by the theory of Unified Theory of Acceptance and Use of Technology (UTAUT). The respondents of this study are Alumni from the University Utara Malaysia (UUM) who graduated in 2021 and 2022 using a stratified random sampling technique. A total 356 data was collected and analyses using SPSS version 27. The results have shown that gender, age and level of income have no differences on Consumer Buying Behavior (CBB). Intention to Use BNPL services (I), Attitude (A), Perceived Behavioral Control (PBC) and Performance Expectancy (PE) have a positive significant relationship on Consumer Buying Behavior (CBB). However, only Subjective Norms (SN) have a negative significant relationship towards Consumer Buying Behavior (CBB).