The Role of Fintech Payment as an Intervening Variable in the Relationship between Financial Literacy, Lifestyle, and Consumptive Behavior

Abstract

The development of digital financial services, such as Shopee PayLater, offers transaction convenience but potentially triggers consumptive behavior among students. This study aims to analyze the influence of financial literacy and lifestyle on students' consumptive behavior, with the use of the Shopee PayLater fintech payment platform as an intervening variable. This study employs a quantitative method with a survey approach involving 100 Generation Z university students selected through purposive sampling. Data were analyzed using multiple linear regression and path analysis via SPSS version 25. The results indicate that financial literacy, lifestyle, and Shopee PayLater usage have a positive and significant effect on students' consumptive behavior. Furthermore, financial literacy and lifestyle significantly influence the use of Shopee PayLater. Path analysis confirms that Shopee PayLater mediates the influence of financial literacy and lifestyle on consumptive behavior, with the indirect effect through the intervening variable being more dominant than the direct effect. These findings assert that the ease of digital credit access can reinforce consumptive tendencies, regardless of an individual's level of financial literacy. This study suggests the importance of strengthening digital financial literacy and self-control among students in utilizing fintech payment instruments to achieve healthier and more sustainable consumption patterns.

Keywords:  financial literacy, lifestyle, consumptive behavior, fintech payment shopee paylater