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This study employed a rigorous mixed-methods approach, integrating in-depth
interviews with experts and individuals, followed by preliminary and formal quantitative
analyses via SmartPLS 4.0, yielding valuable insights for the field.
5.2.2. Practical implications
Our empirical validation of the proposed hypotheses yields several managerial
insights for E-commerce platforms, FinTech/BNPL providers, and consumers.
For e-commerce platforms, BNPL's direct positive effect on online shopping
intentions highlights its strategic integration at critical decision junctures, such as
checkout funnels. Platforms should prioritize BNPL with one-click options and targeted
promotions to boost conversions. Since financial literacy negatively affects intentions and
moderates this dynamic, E-commerce sites could offer in-app financial education tools,
debt calculators, or pop-ups warning about debt risks for low-literacy users.
For FinTech and BNPL providers, they can capitalize on BNPL's role in reshaping
mental accounting heuristics and satisfaction drivers, which indirectly boost shopping
intentions. Providers should offer flexible repayment options and spending trackers.
Tailored strategies for low- and high-literacy users are needed, such as aggressive
marketing for low-literacy users and conservative messaging for high-literacy cohorts.
Data-sharing collaborations with e-commerce sites can help prevent over-indebtedness.
For consumers, BNPL facilitates shopping intentions and satisfaction, whereas
elevated financial literacy serves as a critical buffer, moderating BNPL's persuasive pull.
Consumers are thus encouraged to improve financial literacy to avoid excessive spending
and pair BNPL with personal finance apps to manage debt effectively. Providers with
transparent user terms should be favored.
5.3. Limitations and future research
Firstly, the model does not capture behaviours such as long-term satisfaction,
repayment compliance, regret, financial stress, or loyalty. Future research could extend
the model to examine the long-term behavioural and financial consequences of BNPL
usage. Secondly, the study relies on self-reported survey data, which may introduce
common method bias (Podsakoff et al., 2012) and potentially inflate correlations among
variables. Thirdly, the sample of 325 BNPL users in Hanoi may not fully represent the
broader BNPL consumer population, suggesting the need for larger and more diverse
samples in future studies. Finally, this research mainly examines BNPL use for
consumption spending (e.g., entertainment and leisure), while future studies could
explore its application in other contexts, such as education, and develop guidelines for
responsible BNPL usage among young consumers.

References
[1]. Ahmad, M. (2025). The impact of digital payment systems (buy now, pay later)
on consumer spending behavior. SSRN. https://ssrn.com/abstract=5710222
[2]. Ahn, S. Y., & Nam, Y. (2022). Does mobile payment use lead to overspending?
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https://doi.org/10.1016/j.chb.2022.107319
[3]. Ashby, R., Sharifi, S., Yao, J., & Ang, L. (2025). The influence of the buy-now-pay-
later payment mode on consumer spending decisions. Journal of Retailing, 101(1).
[4]. Fook, L. A., & McNeill, L. (2020). Click to buy: The impact of retail credit on over-
consumption in the online environment. Sustainability, 12(18), 7322.
https://doi.org/10.3390/su12187322

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