Tam Model Analysis: Interest in Using Shopee PayLater Among Students at the University of Jambi

Figure Ilustration AI

FORMOSA NEWS - Jambi - Shopee PayLater Adoption Among Students Driven by Benefits and Risk Awareness, Study Finds. A 2026 study by Spingte Malthawibi Bermani Dustar and Dedi Setiawan from Universitas Jambi reveals that students’ interest in using Shopee PayLater (SPayLater) is shaped primarily by perceived benefits and financial risks, rather than ease of use or digital knowledge. Published in the Formosa Journal of Sustainable Research, the research highlights how young digital users make financial decisions in Indonesia’s rapidly expanding fintech ecosystem. The findings matter as buy now, pay later (BNPL) services continue to grow across Southeast Asia, especially among Generation Z students who are active users of e-commerce and digital payment platforms. Understanding what drives or limits their adoption of such services is crucial for financial institutions, policymakers, and educators.

Fintech Growth and Rising Student Dependence on PayLater
Indonesia has become a major player in Southeast Asia’s fintech industry, with hundreds of registered platforms offering digital financial services. Among these, paylater systems like SPayLater have gained strong traction, especially among young consumers. The popularity of SPayLater is closely linked to the rapid expansion of e-commerce. Platforms such as Shopee, Tokopedia, and Lazada have transformed shopping behavior by offering instant purchasing with deferred payments. For students, this model provides flexibility when managing limited budgets or responding to lifestyle demands. However, this convenience also raises concerns. Easy access to credit can encourage impulsive spending and increase the risk of long-term debt. Issues such as late payment penalties, interest charges, and data privacy risks have become increasingly relevant in discussions about digital finance.

Survey-Based Study Using Student Data
The research by Dustar and Setiawan used a quantitative survey approach involving 100 undergraduate students at Universitas Jambi. Respondents were selected through random sampling from a population of over 27,000 students.
Data were collected using structured questionnaires distributed both online and offline. The study examined four main factors:

• Perceived Ease of Use.
• Perceived Usefulness.
• Perceived Risk.
• Digital Knowledge.

These variables were analyzed using a statistical modeling technique to assess their influence on students’ intention to use SPayLater.

Key Findings: Benefits Drive Interest, Risks Reduce It
The study provides clear insights into how students evaluate paylater services:

• Perceived usefulness is the strongest positive factor - Students are more likely to use SPayLater when they see clear benefits, such as faster transactions, flexible payments, and improved financial convenience.
• Perceived risk has a significant negative effect - Concerns about debt accumulation, interest costs, late fees, and personal data security reduce students’ willingness to use the service.
• Ease of use does not significantly influence interest - Students consider user-friendly interfaces as a basic expectation, not a deciding factor.
• Digital knowledge does not increase usage intention - Higher digital literacy does not lead to higher adoption. Instead, knowledgeable students tend to be more cautious.

The model explains 53.2% of the variation in students’ intention to use SPayLater, indicating that these factors play a substantial role in decision-making.

Implications for Fintech Industry and Policy
The study offers several important implications:

• For fintech companies: Providers should focus on delivering clear value and transparent financial terms. Marketing strategies that emphasize benefits such as efficiency and flexibility are more likely to resonate with users than simply promoting ease of use.
• For policymakers and regulators: There is a growing need for stronger consumer protection and financial literacy programs. Ensuring that users understand the risks associated with digital credit is essential to prevent over-indebtedness.
• For educational institutions: Universities can play a key role in equipping students with financial management skills. Integrating digital financial literacy into curricula can help students make informed decisions.
• For society: The findings highlight the importance of responsible consumption in the digital age. As access to credit becomes easier, the ability to manage financial risk becomes more critical.

Author Profiles

Spingte Malthawibi Bermani Dustar, S.E., M.Si. Lecturer and researcher at Universitas Jambi, specializing in financial management and consumer behavior in digital environments.
Dedi Setiawan, S.E., M.M. Academic at Universitas Jambi with expertise in information systems, technology adoption, and digital business analysis.

Source
Dustar, Spingte Malthawibi Bermani & Setiawan, Dedi (2026). “TAM Model Analysis: Interest in Using Shopee PayLater Among Students at the University of Jambi.” Formosa Journal of Sustainable Research, Vol. 5 No. 2, pp. 91–100.
DOI: https://doi.org/10.55927/fjsr.v5i2.12
URL: https://journalfjsr.my.id/index.php/fjsr