Exploring the Adoption of Buy Now, Pay Later (BNPL) Services in Finland
Peltomäki, Miro (2025)
2025
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025052214810
https://urn.fi/URN:NBN:fi:amk-2025052214810
Tiivistelmä
This research-based thesis examines how four chosen factors influence the adoption and attitudes towards Buy Now, Pay Later (BNPL) services across different generations in Finland. These chosen factors were psychological factors, social influence, economic conditions and technological advancements, and the generations examined were Gen Z, Millennials, and Gen X.
The research was divided into two parts: a desktop study, which consisted of theories and concepts related to the topic and factors, and quantitative online survey, which was built based on the desktop study. The online survey was promoted within the author’s professional networks, and it gathered 90 respondents, 30 from each generation group.
The results of the online survey show that there are both similarities and differences between generations in approaches towards BNPL services. Comparing the three generations, millennials were most likely to be optimistic and use BNPL services. It was shown e.g. in increased trust, listening to recommendations from social circle, and believing in the integration of payment systems into apps. Gen X respondents had a similarly optimistic approach towards BNPL services, although they took a step back in some aspects, like not believing in social influence. Gen Z respondents were generally more on the neutral or disagreeing side, depending on the factor. Gen Z respondents were most cautious, avoiding using BNPL as a payment method regardless of income level, not listening to social circle’s recommendations, and not seeing BNPL as helping with financial problems. However, Gen Z has the highest level of trust in digital payment systems.
When comparing the author’s preliminary desktop study with the online survey, the majority of online survey responses confirmed the desktop study. Differences were found in technological advancements, as Finnish Gen X respondents tend to have a more positive view on digital payment systems than what was found in the desktop study, which is interesting.
The research was divided into two parts: a desktop study, which consisted of theories and concepts related to the topic and factors, and quantitative online survey, which was built based on the desktop study. The online survey was promoted within the author’s professional networks, and it gathered 90 respondents, 30 from each generation group.
The results of the online survey show that there are both similarities and differences between generations in approaches towards BNPL services. Comparing the three generations, millennials were most likely to be optimistic and use BNPL services. It was shown e.g. in increased trust, listening to recommendations from social circle, and believing in the integration of payment systems into apps. Gen X respondents had a similarly optimistic approach towards BNPL services, although they took a step back in some aspects, like not believing in social influence. Gen Z respondents were generally more on the neutral or disagreeing side, depending on the factor. Gen Z respondents were most cautious, avoiding using BNPL as a payment method regardless of income level, not listening to social circle’s recommendations, and not seeing BNPL as helping with financial problems. However, Gen Z has the highest level of trust in digital payment systems.
When comparing the author’s preliminary desktop study with the online survey, the majority of online survey responses confirmed the desktop study. Differences were found in technological advancements, as Finnish Gen X respondents tend to have a more positive view on digital payment systems than what was found in the desktop study, which is interesting.