Future Payments Today: “Buy Now Pay Later” Adoption in Helsinki regions and its potential pitfalls
Quach, Tran Duc An (2025)
2025
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025052214520
https://urn.fi/URN:NBN:fi:amk-2025052214520
Tiivistelmä
This study examines the adoption and usage of "Buy Now, Pay Later" (BNPL) services among consumers in the Greater Helsinki Region (GHR), exploring associated financial risks and management behaviors. BNPL services have rapidly transformed consumer payment patterns, particularly among young individuals. The aim was to assess the demographics of BNPL users, their level of economic literacy, behavioral tendencies, and strategies to mitigate financial risks. Guided by theories such as the Technology Acceptance Model (TAM), Diffusion of Innovation (DOI), Theory of Planned Behavior (TPB), and financial literacy frameworks, the research applied a quantitative method through an online survey that gathered 107 responses.
Results reveal that BNPL users in GHR are primarily young adults aged 18–24, possessing relatively high financial awareness but still remain vulnerable to impulsive behaviors and cognitive biases. Most respondents used BNPL cautiously, allocating only a small percentage of their monthly income to repayments, but risks like hidden fees, debt accumulation, and credit score damage remain key concerns. The study highlights the need for financial education and regulatory transparency to promote responsible BNPL use. Limitations include the focus on a young, educated demographic and the Helsinki context, suggesting the need for broader and longitudinal studies. The research concludes by recommending policy interventions, mandatory financial education, and provider transparency to ensure sustainable BNPL adoption.
Results reveal that BNPL users in GHR are primarily young adults aged 18–24, possessing relatively high financial awareness but still remain vulnerable to impulsive behaviors and cognitive biases. Most respondents used BNPL cautiously, allocating only a small percentage of their monthly income to repayments, but risks like hidden fees, debt accumulation, and credit score damage remain key concerns. The study highlights the need for financial education and regulatory transparency to promote responsible BNPL use. Limitations include the focus on a young, educated demographic and the Helsinki context, suggesting the need for broader and longitudinal studies. The research concludes by recommending policy interventions, mandatory financial education, and provider transparency to ensure sustainable BNPL adoption.