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Table 2. Demographic details
Characteristic Frequency Percentage
1. Gender
Male 119 36.6%
Female 204 63.4%

2. Age
Gen Y (1986 - 1994) 143 44%
Gen Z (1995 - 2010) 182 56%
3. Knowledge about Buy Now, Pay Later (BNPL) services
Be aware of and regularly use BNPL services 97 29.8%
Be aware of, have used before but no longer use 68 20.9%
BNPL services
Be aware of but rarely use BNPL services 160 49.2%
4. BNPL services that the respondents have used
MoMo E-Wallet 137 23.1%
ZaloPay 98 16.5%
ShopeePay 239 40.2%
VNPAY 69 11.6%
SmartPay 11 1.9%
PayNow 13 2.2%
Fundiin 2 0.3%
Kredivo 2 0.3%
Ree-pay 1 0.2%
Kaypay 1 0.2%
Source: Author
4.2. Measurement model evaluation
4.2.1. Outer loadings, reliability and convergence
Table 4. Measurement model results
Outer Loadings Cronbach's rho_A Composite Average Variance
Alpha Reliability Extracted (AVE)
FL 0.739 0.871 0.874 0.903 0.608
SA 0.783 0.881 0.883 0.913 0.678
PP 0.814 0.764 0.764 0.864 0.679
MA 0.708 0.852 0.856 0.890 0.575
BU 0.725 0.876 0.878 0.906 0.618
SI 0.715 0.874 0.876 0.905 0.614
Source: Author
The measurement model was first evaluated by examining indicator reliability. All
outer loadings exceeded the recommended threshold of 0.708, indicating that the
observed indicators adequately represent their respective latent constructs (Vinzi et al.,
2010; Hair et al., 2019). Internal consistency reliability was assessed using Cronbach’s
Alpha and Composite Reliability (CR). All constructs (FL, SA, PP, MA, BU, and SI)
demonstrated satisfactory reliability, with both Cronbach’s Alpha and CR values
exceeding 0.70. Composite Reliability values ranged from 0.864 to 0.913, indicating strong
internal consistency without evidence of redundancy (Nunnally & Bernstein, 1994). The

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