Consumer acceptance among malaysian in buy now, pay later (BNPL) services: integrating perceived trust and perceived risk with TPB model

Khoo, Jie Yee and Mok, Yu Xian (2026) Consumer acceptance among malaysian in buy now, pay later (BNPL) services: integrating perceived trust and perceived risk with TPB model. Final Year Project, UTAR.

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Abstract

Buy Now Pay Later services are becoming increasingly popular in Malaysia. This widespread adoption, along with the timely introduction of the Consumer Credit Act (CCA) 2025, highlights the need for a deeper understanding of the factors that drive consumer behaviour. The objective of this study is to investigate the factors influencing Malaysian intention to use BNPL services in the background of CCA. The conceptual framework for this study was developed using an expanded Theory of Planned Behaviour. Furthermore, Attitude, Subjective Norm, Perceived Behavioural Control, Perceived Trust, and Perceived Risk are the independent variables in this study. These independent variables are utilised to assess whether they significantly influence the intention to use BNPL. SmartPLS software was adopted to analyse the data. This study gathered a total of 405 valid participants. The findings and results show that Attitude, Subjective Norm, Perceived Behavioural Control, and Perceived Trust significantly and positively influence the intention to use BNPL. Meanwhile, Perceived Risk was found to have a significant negative influence on the intention to use BNPL. Ultimately, the research bridges a critical literature gap in a newly regulated market, offering actionable insights for BNPL providers, digital marketers, and policymakers. The findings indicate that stakeholders should prioritise transparent, trust-building strategies and responsible financial education to encourage sustainable consumer adoption.

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