The Determinants of Intention to Adopt Buy Now Pay Later Services By Sri Lankan Consumers

This quantitative research study conducted in the field of the latest fintech service of Buy Now Pay Later services was completed with the aim of solving the research problem of ‘Lack of research on BNPL services and factors influencing its adoption in the Sri Lankan context’ since these services are beneficial to both the consumers and merchants involved in the process, especially in a developing country like Sri Lanka. In order to solve this research problem, research question of ‘In what way does perceived usefulness, social influence, and financial literacy affect the intention to adopt Buy Now Pay Later services?’ was developed, which ultimately created the research objective of ‘Identifying the effect of perceived usefulness, social influence, and financial literacy on the intention to adopt Buy Now Pay Later services’ under this research study. The study employed a deductive and quantitative research approach, collecting primary data via a Google Form questionnaire using the snowball sampling technique, and analysing it with SPSS software.
In the Data Analysis chapter, it was proven that the collected data was reliable, and the independent variables; Perceived Usefulness, Social Influence , and Financial Literacy and dependent variable; Intention to Adopt Buy Now Pay Later Services got a positive relationship, and the developed hypotheses were accepted by conducting the main analysis of reliability analysis, Pearsons correlation analysis, and the regression analysis respectively. The research study concludes with key implications on managers, society and theory. These findings can be used to promote BNPL services and to improve the financial systems, provide easy access to consumer credit and to boost sales and revenue ultimately enhancing the quality of life.