Impact of Paylater on the Financial Risk Awareness, Hedonism, Service Quality, and UI/UX Variables among University Students: A Stressor-Strain Outcome Framework Approach

The utilization of installment payment services, such as paylater, is currently experiencing a significant surge in popularity. This feature is provided by all forms of internet commerce. Nevertheless, it is important to acknowledge that this service does not just yield positive outcomes. A recent study revealed that a total of 200 students encountered difficulties with the payment option. Additionally, another study indicated that a total of 311 pupils encountered difficulties with the paylater service. The objective of this study is to conduct a comprehensive analysis to ascertain the challenges faced by pupils. The present study employed the Stressor-Strain-Outcome (SSO) framework. The study employed quantitative methodologies, including structural equation modeling and partial least squares techniques. A survey was conducted among 295 university students who are users of the paylater service. The study revealed that there are significant variables, such as the students’ low understanding of financial risk (24.8%), other variables used in this study such as the variables of hedonism, urgent needs, service quality, user interface and user experience, which require attention. This study also found the need for UI/UX development in existing applications because the UI/UX variable that affects the actual use of installments (paylater) has a value of -15.4%. The research identified additional areas in the program that need improvement.