Unlocking the Impact of Financial Education in Paylater Services: Investigating the Moderating Effect on Student Financial Behavior

Abstract

In the context of Paylater services, this study investigates the role of financial education as a moderator on the relationship between financial literacy, financial attitude, and financial behaviour. A new financial service called Paylater, commonly referred to as "buy now, pay later" (BNPL), enables customers to make purchases and postpone paying for them until a later time. The study uses a quantitative research approach and uses an online survey to gather data. The study included 178 participants from the Z generation who used paylater. The results show that financial education is a key factor in determining how financial literacy and attitude are translated into actual financial behaviour. According to the study, financial education enhances the beneficial effects of a favourable financial attitude on financial behaviour in relation to Paylater services. Users that have sound financial attitudes and education demonstrate prudent spending habits and intelligent financial planning. In order to provide student with the knowledge and skills to make wise financial decisions, to promote financial well-being, and to ensure a positive experience with Paylater services and related financial products, the promotion of financial education is becoming more and more important as the landscape of financial services continues to change.