Buy Now, Pay Later Culture: Economic Analysis of the PayLater Phenomenon Among Gen Z

Abstract

The "PayLater" phenomenon, or buy now pay later (BNPL), is increasingly popular among Indonesia's Gen Z. The service offers easy access to credit without a card, but raises concerns about consumptive behaviour and personal financial management. This article aims to analyse the economic impact of using PayLater, focusing on financial behaviour, long-term well-being, and potential systemic risks if these trends are not managed wisely. The method used is descriptive-qualitative through literature studies, secondary data, and digital trend analysis. The findings show that while PayLater supports the growth of the digital economy and domestic consumption, it also increases short-term credit dependence and triggers individual financial crises, particularly in the early productive age. This article emphasises the importance of digital financial literacy as a foundation for healthy consumptive decision-making. At the end of the article, policy recommendations and educational strategies for industry players and regulators are presented to anticipate the long-term impact of this "instant" culture.

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