Impulsive buying in the digital age: investigating the dynamics of sales promotion, FOMO, and digital payment methods

Djamhari, Shirin Istikhara; Mustika, Martina Dwi; Sjabadhyni, Bertina; Ndaru, Alif Ramadian Puspa Article Impulsive buying in the digital age: investigating the dynamics of sales promotion, FOMO, and digital payment methods Cogent Business & Management Provided in Cooperation with: Taylor & Francis Group Suggested Citation: Djamhari, Shirin Istikhara; Mustika, Martina Dwi; Sjabadhyni, Bertina; Ndaru, Alif Ramadian Puspa (2024) : Impulsive buying in the digital age: investigating the dynamics of sales promotion, FOMO, and digital payment methods, Cogent Business & Management, ISSN 2331-1975, Taylor & Francis, Abingdon, Vol. 11, Iss. 1, pp. 1-16, https://doi.org/10.1080/23311975.2024.2419484 This Version is available at: https://hdl.handle.net/10419/326639 Standard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. 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If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence. https://creativecommons.org/licenses/by/4.0/ Cogent Business & Management ISSN: 2331-1975 (Online) Journal homepage: www.tandfonline.com/journals/oabm20 Impulsive buying in the digital age: investigating the dynamics of sales promotion, FOMO, and digital payment methods Shirin Istikhara Djamhari, Martina Dwi Mustika, Bertina Sjabadhyni & Alif Ramadian Puspa Ndaru To cite this article: Shirin Istikhara Djamhari, Martina Dwi Mustika, Bertina Sjabadhyni & Alif Ramadian Puspa Ndaru (2024) Impulsive buying in the digital age: investigating the dynamics of sales promotion, FOMO, and digital payment methods, Cogent Business & Management, 11:1, 2419484, DOI: 10.1080/23311975.2024.2419484 To link to this article: https://doi.org/10.1080/23311975.2024.2419484 © 2024 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group Published online: 26 Oct 2024. Submit your article to this journal Article views: 12329 View related articles View Crossmark data Citing articles: 5 View citing articles Full Terms & Conditions of access and use can be found at https://www.tandfonline.com/action/journalInformation?journalCode=oabm20 Marketing | research article Cogent Business & ManageMent 2024, VoL. 11, no. 1, 2419484 Impulsive buying in the digital age: investigating the dynamics of sales promotion, FOMO, and digital payment methods shirin istikhara Djamhari, Martina Dwi Mustika , Bertina sjabadhyni and alif ramadian Puspa ndaru Faculty of Psychology, universitas indonesia, Depok, Jawa Barat, indonesia ABSTRACT the widespread use of smartphones and internet connectivity in indonesia has encouraged the emergence of digital payment phenomena, namely e-wallets and Paylater, which are expected to continue to grow in line with the trend of financial digitalization. Despite their convenience, these payment methods can contribute to impulse purchases, especially among the younger generation. this research, which includes two studies, aims to provide insights into societal impulse buying dynamics. the first study surveyed 360 participants to examine the influence of Paylater as a moderator for sales promotions and the fear of missing out (FOMO) on impulsive buying behavior. analysis using aMOs software reveals positive moderation in sales promotions (p < 0.05); however, FOMO is not significantly moderated (p > 0.05). the second study used an experimental vignette method with a promotional poster to examine the effect of sales promotions (monetary and non-monetary) and the choice of digital payment methods (Paylater and e-wallets) on impulsive buying tendencies in 559 participants. it reveals that non-monetary promotions (M = 26.501) and Paylater (M = 26.490) influence impulsive buying more, but they do not do so when both are present simultaneously. this paper discusses the implications and offers recommendations for future research. Introduction the growth of e-commerce in indonesia has led to the development of a digital payment ecosystem that includes bank transfers, electronic wallets (e-wallets), and Paylater. a survey by United Overseas Bank, Pwc singapore, and the singapore Fintech association published in Fintech in asia (Fintech in asean, 2022) found that indonesia’s fintech ecosystem is the largest in the southeast asia region in terms of the number of users. One in three indonesians uses an e-wallet as their primary payment method, followed by Paylater. the transactions made through e-wallets in 2022 reached iDr 27.1 trillion (anggraeni, 2022), and Paylater is expected to achieve 30% growth in 2028 (setiaji, 2022). it is estimated that with the increasing trend of financial digitalization, the duo will continue to grow because of the ease of their use for online consumers (Pratika et al., 2021). Paylater, which functions similarly to a credit card but offers more accessible loan terms, has emerged as a useful option for e-commerce consumers, offering interest-free installment payments with minimal fees (Di Maggio et al., 2022; gerrans et al., 2022). an e-wallet is a digital tool that stores electronic funds received through mobile banking services and facilitates financial transactions (lee et al., 2023; sunny & george, 2018). the convenience and benefits that consumers perceive while purchasing products through these two payment systems can influence impulsive buying (chatterjee & rose, 2012; handayani & rahyuda, 2020; hilmi & Pratika, 2021; lee et al., 2023; sari, 2021). impulsive buying, a purchase made quickly and spontaneously without any intention prior to the purchase, has proven to be profitable for sellers. therefore, marketers actively seek to encourage this © 2024 the author(s). Published by informa uK Limited, trading as taylor & Francis group CONTACT Martina Dwi Mustika mar[email protected] Faculty of Psychology, universitas indonesia, Kampus Baru Depok, Depok, Jawa Barat 16424, indonesia https://doi.org/10.1080/23311975.2024.2419484 this is an open access article distributed under the terms of the Creative Commons attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. the terms on which this article has been published allow the posting of the accepted Manuscript in a repository by the author(s) or with their consent. ARTICLE HISTORY received 20 February 2024 revised 7 June 2024 accepted 16 October 2024 KEYWORDS Buy now pay later; digital payment; FOMO; e-wallet; impulsive buying; promotion SUBJECTS consumer Psychology; economic Psychology; Multidisciplinary Psychology 2 s. i. DJaMhari etal. behavior through comprehensive marketing strategies, including the four Ps: product, price, placement, and promotion (Bandyopadhyay et al., 2021; Beatty & Ferrell, 1998). among these factors, sales promotion is one of the most researched because it is a marketing tactic with the greatest influence on purchase decisions (Mandolfo et al., 2022; rodrigues et al., 2021). sales promotions can also evoke the feeling known as the fear of missing out (FOMO) (alfina et al., 2023), which is driven by a sense of urgency and exclusivity in owning a product or service (hodkinson, 2019). consumers who experience FOMO tend to follow the latest trends and feel that they are taking advantage of trends or activities. this perception pushes them to buy products impulsively to keep up with trends (good & hyman, 2020). around 60% of millennial consumers make an immediate purchase within 24 hours of experiencing FOMO (hott, 2024). given the increasing importance of sales promotions, FOMO, and payment methods in impulsive buying, there remains a paucity of research examining the effect of payment methods, especially Paylater, on the relationship between sales promotions, FOMO, and impulsive buying. Paylater was chosen as the main subject of this research because, unlike e-wallets, there has been no significant research on Paylater despite it generating mass interest in indonesia’s digital payment realm. Further research on this subject is relevant in indonesia because, apart from the relatively recent emergence of the digital payment method, the population still has a low level of financial literacy, increasing the risk of their becoming debt-ridden as a result of impulsive buying. in 2019, the indonesian Financial services authority survey found that indonesia scored 38.03% on the financial literacy index and 76.19% on the financial inclusion index, indicating a significant gap in people’s understanding of the financial services available (Muthia, 2022). Meanwhile, the rapid growth of internet usage has made indonesia a fast-growing digital economy in southeast asia (World Bank group, 2023). this has encouraged the widespread adoption of digital payments and e-wallets, particularly in online shopping. thus, this research fills a gap in the existing literature and makes a notable contribution to marketers, consumers, and policymakers in compiling consumer protection regulations against excessive impulsive purchases. Literature review and hypothesis development Impulsive buying impulsive buying has several characteristics. it is unplanned and occurs with an impulse that emerges after exposure to a stimulus. the buying decision is made impulsively in a store or in a place where a person encounters a stimulus. in addition, it can be influenced by consumers’ cognitive characteristics or emotional states (arslan, 2015). stimuli can be in the form of discounts, displays, or advertisements (Madhu et al., 2022). impulsive buying can be related to demographic factors, such as gender, age, income, and education (awan & abbas, 2015; sun & Wu, 2011). as a precursor to impulsive buying behavior, impulsive buying tendencies are relatively stable and highly consistent, and they have significant predictive power for impulsive buying behavior (Wang et al., 2022). impulsive buying tendencies encourage consumers to buy products of various types simultaneously, regardless of the benefits they offer. individuals with high impulsive buying tendencies are more likely to engage in impulsive buying behavior than those with lower impulsive buying tendencies (Bandyopadhyay, 2017; Wang et al., 2022). although marketers often push impulsive buying because it is harmless, excessive impulsive buying can lead to adverse financial outcomes, such as overspending and a debt burden (agrawal, 2018; Fenton-O’creevy et al., 2018). Sales promotion One of the most researched topics on the factors influencing impulsive buying is sales promotion, which is reflected in incentive tools aimed at encouraging faster or larger purchases of certain products or services (Mandolfo etal., 2022). sales promotion increases consumers’ desire to purchase (Bandyopadhyay et al., 2021). the benefits of promotions are not limited to price savings. they also provide consumers with benefits, such as higher product quality and shopping convenience (chandon etal., 2000). Promotion can be divided into four categories, the characteristics of which depend on their respective attributes, cOgent BUsiness & ManageMent 3 such as the form of the reward (monetary or non-monetary) and the timing of gratification (immediate or delayed) (Bandyopadhyay et al., 2021; Mandolfo et al., 2022). Various research findings have confirmed that consumers tend to be more impulsive when there are sales or product discounts. intrinsic rewards in sales promotions are often cited as a driving factor for impulsive buying online and offline (Mandolfo et al., 2022). Badgaiyan and Verma (2015) and akram etal. (2018) observed a relationship between credit cards, sales promotions, and impulsive purchases. studies by Bandyopadhyay et al. (2021) and liao et al. (2009) found that instant gratification promotions are more important for impulsive buying. however, they did not specify whether the promotion could be monetary or non-monetary. although these studies have examined the relationship between sales promotion and impulsive buying, research has yet to explore which types of sales promotion encourage impulsive buying (Bandyopadhyay et al., 2021; Mandolfo et al., 2022). therefore, this research will raise further questions about sales promotion, primarily monetary and non-monetary promotion methods. examples of cash sales promotions include discounts, cashbacks, additional products, and coupons. the non-monetary form of sales promotion consists of giving prizes, bonuses, opportunities to win contests, and sweepstakes for purchasing products (Bandyopadhyay et al., 2021; chandon et al., 2000; Mandolfo, 2021; sinha & Verma, 2017). h1a: sales promotion has a positive effect on impulsive buying. Fear of Missing out Fear of Missing Out (FOMO) is a marketing phenomenon and can be interpreted as the worry that someone might miss something worthwhile or enjoyable that others are experiencing (Przybylski etal., 2013). concerns about not participating in other people’s experiences or owning products are increasingly fueling the growth of the FOMO phenomenon. therefore, the growth of the FOMO phenomenon is closely related to the heavy use of social networks, where users can see what other people are doing and having in real time (Barry & Wong, 2020; Çelik et al., 2019). Believing that an experience will be beneficial and rewarding can lead to the feeling of FOMO (good & hyman, 2020). advertisers create the impression of product shortages using phrases such as ‘limited offer’, ‘only valid for a limited time’, and ‘limited quantity’. these phrases have proved effective in driving demand for products and FOMO tendencies. this perception of scarcity can lead to an increase in the value of goods owned (lim, 2016) and make FOMO more effective (hodkinson, 2019). generally, the feeling of FOMO leads to an emotional response that influences purchase decisions (good & hyman, 2020). h2: FOMO has a positive effect on impulsive buying. Digital payment method Paylater is a payment system that allows consumers to buy a product or service without paying the full amount. according to the agreement, consumers only have to pay in installments or pay within a certain time (gerrans et al., 2022). e-wallets store electronic money from mobile banking services and conduct transactions (lee et al., 2023; sunny & george, 2018). Based on previous studies, these two cashless payment systems can influence the level of impulsive buying, as consumers perceive convenience and benefits when purchasing products (chatterjee & rose, 2012; hilmi & Pratika, 2021; lee etal., 2023; sari, 2021). Pradhan et al. (2018) assumed that consumers’ impulse control may weaken because cashless payments are considered painless compared with cash payments. Because Paylater postpones and spreads payments over a longer period, using Paylater can lower the perceived cost of a purchase, thereby reducing the immediate financial impact and the pain of paying the price immediately (Mahmud & Fatikhah, 2023). additionally, Paylater can enable consumers to purchase items that they may not otherwise be able to afford or for which they would need to save. therefore, Paylater can increase the accessibility and affordability of shopping, which can trigger impulsive buying in consumers through FOMO. the availability of Paylater and sales promotions can also 4 s. i. DJaMhari etal. increase the perceived benefit of the purchase by offering various incentives, such as a lower price, a gift, or a reward, that can encourage consumers to make impulsive purchases (Bandyopadhyay etal., 2021). h3: Paylater positively moderates the relationship between sales promotion and impulsive buying. h4: Paylater positively moderates the relationship between FOMO and impulsive buying. conversely, studies by Parameswaran and islam (2022) and sari (2021) found a positive relationship between the use of e-wallets and impulsive behavior. this means that the more frequently consumers use e-wallets, the greater their tendency to make impulsive purchases. this may be because the use of e-wallets facilitates shopping and offers many promotions or incentives that come from using e-wallets, thus encouraging compulsive behavior (sari, 2021). e-wallets are also believed to reduce perceptions of the cost of buying and increase the perceived benefit of buying, which can lead to impulsive purchases (Parameswaran & islam, 2022). although there has been research examining the relationship between the two payment methods and impulsive buying, a comparison of the effectiveness of the two payment methods has yet to be conducted, despite the two systems having different natures in terms of money ownership. therefore, this research will be followed by another study comparing digital payment methods and sales promotion types in terms of their influence on impulsive buying. h5: there is a significant effect of the type of sales promotion on impulsive buying. h6: there is a significant effect of the choice of digital payment method on impulsive buying. h7: there is a significant interaction effect of sales promotion and payment method on impulsive buying. Study 1 Method the measurement tools used in the first study were seven items from impulsive buying (Mandolfo et al., 2022), including, ‘i often buy things spontaneously when using Paylater’, and ‘When using Paylater, i often buy things without thinking’. sales promotions use five elements of sale propensity (Mandolfo et al., 2022), such as ‘When i buy something that’s on sale with Paylater, i feel like i am getting a good deal’. the Paylater questionnaire consists of three items adapted from previous measuring instruments using credit cards (Badgaiyan & Verma, 2015), such as ‘i generally use Paylater’. to measure FOMO, t-FOMO questionnaire was used. the questionnaire has 5 items, including "i become anxious during a sale and tend to buy more than i actually need"; and "i have the habit of accepting appointments even though my schedule is full for fear of missing out" (lim, 2016). all items were measured using seven scales, ranging from 1 (strongly disagree) to 7 (strongly agree). the measurement instrument used in this study was verified for reliability, validity, and item analysis based on previous studies. all measurement tools were also adapted to the context of this research and indonesian conditions, following the procedure suggested by sousa and rojjanasrirat (2011). Based on previous research on impulsive buying, participants in this study were required to be aged 18 to 35 years (Millenial and generation Z) and have experience with Paylater and e-wallets (awan & abbas, 2015; Badgaiyan & Verma, 2015; Mandolfo, 2021). Participants were recruited according to convenience sampling techniques and the participants’ availability and suitability. the sampling technique was chosen because it is difficult to obtain a list of Paylater and e-wallet users to perform probability sampling. in addition, the location of the target participants was spread across a wide geographical area. this method is consistent with previous studies in the same context (Badgaiyan & Verma, 2015; Madhu etal., 2022). links to complete the questionnaire were provided online through social networks (e.g. twitter, instagram, Facebook, linkedin, telegram, and Whatsapp). the data were collected through the Zoho online questionnaire platform from april 16 to May 5, 2023. to obtain consent, all participants must have completed the written consent form before participating in the study. the consent included a brief explanation of the purpose of the research, their freedom to participate in the study, possible risks, the confidentiality of data, and information about the lottery compensation they could receive, including their freedom to participate in the lucky draw or not. they were asked to fill out demographic data before completing the questionnaire. in addition to cOgent BUsiness & ManageMent 5 demographic questions, a random presentation of the measuring instrument items was performed to avoid bias. in this study, 50 lucky participants drawn randomly had already received electronic money worth iDr 50,000, which was transferred after the survey was closed. in this study, 486 participants completed the questionnaire. after data cleaning, the final number of participants was 360 (Mage = 22.99, sD = 3.340, male = 30.2%, female = 69.7%) whose data could be processed in this research. Based on the population, according to Brysbaert (2019), a minimum sample size of 260 is required. comrey and lee (1992) found that a sample size of over 500 is very good (100 = poor, 200 = fair, 300 = good, 500 = very good, and 1,000 or more = excellent). Data analysis and result although the reliability and validity of the measuring instrument have been tested in previous research, cronbach’s alpha and McDonald’s omega tests were conducted to verify the reliability of the measuring instrument for this research (table 1). Most measuring instruments showed excellent reliability indices, while the use of Paylater can be categorized as moderate (hinton etal., 2014). Path analysis and model testing were then performed. We tested our hypotheses using aMOs (version 29, maximum likelihood fitting). the model fit was adequate (likelihood ratio (p-value) = 0.921 (fit > 0.05), goodness of fit index (gFi) = 1 (≥ 0.95 a perfect fit), adjusted goodness of fit index (agFi) = 0.998 (≥ 0.90 acceptable fit), comparative fit index (cFi) = 1 (≥ 0.95 excellent fit), and root mean square error of approximation (rMsea) = 0.000 (≥ 0.05 reasonable fit) (hooper et al., 2008)). the results of the path analysis (see Figure 1) show that there is a significant influence on the relationship between sales promotion (β = 0.358, se = 0.44, p < 0.001) and FOMO (β = 0.298, se = 0.49, p < 0.001). this indicates that higher sales promotions and FOMO are associated with higher impulsive buying. there was also a significant effect of Paylater use on impulsive buying (β = 0.150, se = 0.47, p < 0.005), suggesting that higher use of Paylater is associated with an increase in impulsive buying. these effects were moderated by a significant interaction between sales promotion and Paylater use (β = 0.106, se = 0.309, p < 0.05). this result suggests that the effect of sales promotion on impulsive buying varies depending on the level of Paylater use. specifically, the use of Paylater positively moderates the relationship between sales Table 1. Reliability and standardized regression coefficient. Hypothesis Path α ω estimate SE CR p supported iBt .924 .924 H1a iBt ← sP .869 .871 .358 .044 8.132 *** Yes H1b iBt ← FoMo .885 .886 .298 .049 6.118 *** Yes iBt ← PL .607 .608 .150 .47 3.156 .002* H1c iBt ← sPxPL .106 .039 2.748 .006* Yes H1d iBt ← FoMoxPL −.020 .045 .-440 .660 no Model fit p = .921, gFi = 1, agFi = 0.998, CFi = 1, RMsea = <0.001. Note: iBt: impulsive buying; sP: sale Promotions; FoMo: Fear of Missing out; PL: Paylater use;. **p < 0.01; ***p < 0.001. Figure 1. Path analysis result. 6 s. i. DJaMhari etal. promotions and impulsive buying. this means that the higher the use of Paylater, the stronger the relationship between sales promotion and impulsive buying. in contrast, an insignificant result was found regarding the interaction between FOMO and Paylater use (β = 0.02, se = 0.45, p > 0.05) toward impulsive buying. these results indicate that the use of Paylater is insignificant in moderating the relationship between FOMO and impulsive buying behavior. thus, h1, h2, and h3 can be accepted, while h4 is rejected. Discussion From the data analysis, sales promotion and FOMO have been found to positively influence impulsive buying. this aligns with previous research showing a strong positive relationship between FOMO and purchase likelihood (good & hyman, 2020). this also indicates that FOMO tendencies can significantly influence impulsive purchases (Çelik etal., 2019). the findings regarding the influence of sales promotion on impulsive buying are also consistent with previous research that found consumers tend to be more impulsive when there is a product discount, which is a form of sales promotion (Badgaiyan & Verma, 2015; Victoria et al., 2021). the finding that Paylater significantly influences impulsive buying is also consistent with previous research. Beatty and Ferrell (1998) stated that an individual’s budget reserves influence impulsive shopping. consumers with enough money to spend when shopping are more motivated to make impulsive purchases. this also applies to consumers with no money other than a credit card, which can lead to impulsive purchases. Because Paylater has the same function as a credit card, it is believed that Paylater plays the same role as a credit card in influencing impulsive purchases. this is also supported by research by Parameswari and ginny (2022) and hilmi and Pratika (2021), who found a positive relationship between using the Paylater payment method and impulsive buying, partly because of convenience and low interest rates, which are the positive features of Paylater. One of the interesting findings from this analysis is that Paylater significantly moderates the relationship between sales promotions and impulsive buying. this may be because sales promotions provide rewards and satisfaction to consumers by triggering a successful scheme (Mandolfo et al., 2022). this positive feeling is then reinforced using Paylater, which can provide opportunities for consumers who cannot purchase using Paylater’s installment options. intrinsic rewards in sales promotions are often recognized as factors driving online and offline impulsive purchases (Mandolfo et al., 2022). in this research, the effect of Paylater as a moderator on the relationship between FOMO and impulse buying yielded insignificant results. this could be because of the various influences exerted on impulsive buying by both FOMO and Paylater. as for the influence of FOMO on impulsive buying, it may be influenced less by the payment method than concerns over FOMO on goods or other people’s experiences. the existence of Paylater may support ownership of these goods, but its presence is not strong enough to moderate the relationship between FOMO and impulsive buying. Study 2 Method this study used the experimental vignette method using a 2 × 2 factorial within-subject design to measure sales promotion variables and payment methods that have a greater influence on impulsive buying. a vignette study was used to identify and evaluate the significance of factors within vignettes that causally affect individual responses to contextualized hypothetical scenarios. a quantitative vignette study consists of a vignette experiment as the main component and a conventional survey to measure additional respondent-specific characteristics concurrently and supplementarily (atzmüller & steiner, 2010). all participants must complete the written informed consent before they can participate, the same as in study 1. in this study, each participant was presented with four randomly generated advertising posters containing a scenario/vignette modeled after the manipulated independent variable of this study. the stimuli were presented mostly in indonesian language to adapt to the participants’ demographic. the first poster (see Figure 2) refers to monetary promotion with Paylater stimulus, which translates to ‘Fashion items offer 40% off discount. enjoy special offers for your favorite fashion products only by using Paylater’. Figure 3 shows monetary promotion with payment using e-wallet stimulus. it translates to cOgent BUsiness & ManageMent 7 ‘shop with e-wallet. Big sale up to 40% off. shop now!’ Figure 4 points to non-monetary promotion with payment using Paylater stimulus. the stimulus reads, ‘Pay with Paylater, buy one get one free. shop now’. as shown in Figure 5, the last stimulus refers to non-monetary promotion with payment using e-wallet. the translation is ‘super deal. shop with e-wallet, buy one get one free. Buy now’. consumer product stimuli were chosen based on previous research that found that most impulsive purchases were related to clothing and shoes (alford & Biswas, 2002; aragoncillo & Orus, 2018). this outcome is consistent with study 1’s findings. shoes and bags were chosen because they tend to be gender-neutral and appear attractive without requiring a model figure. a focus group discussion was conducted on august 8, 2023, for eight participants with characteristics similar to the research to examine responses, clarity of information, and attitudes toward the vignette measuring instrument. necessary revisions were then made before data collection. Figure 2. stimulus presented to display monetary promotion with PayLater use. all images are edited and generated with Canva. it is copyrighted by shirin istikhara Djamhari and may not be reproduced without permission 14 s. i. DJaMhari etal. Funding this research was financially supported by the indonesia endowment Fund for education agency (lembaga Dana Pengelola Pendidikan indonesia). About the authors Shirin Istikhara Djamhari is a master’s student in industrial and Organizational Psychology at Faculty of Psychology, Universitas indonesia. her research interest includes consumer behavior, industrial psychology, and organizational development. Martina Dwi Mustika is a registered psychologist in australia, researcher, and lecturer in the Faculty of Psychology, Universitas indonesia. her research interests are individual differences in Business Psychology, utilization of technology in educational and organizational settings, consumer behavior, and working in aged care. Bertina Sjabadhyni is a lecturer and researcher at the Faculty of Psychology, Universitas indonesia. she teaches several subjects related to industrial and Organizational Psychology. her research interest is in consumer psychology related to online financial creditors. Alif Ramadian Puspa Ndaru has obtained his B.a in Psychology from Universitas indonesia. he currently works as a human capital practitioner. ORCID Martina Dwi Mustika http://orcid.org/0000-0001-9888-2096 Data availability statement the data supporting this study’s findings are available from the corresponding author, MDM, upon reasonable request. References agrawal, a. (2018). The effects of immediate and delayed payments on consumption behavior [dissertation]. the University of nebraska - lincoln. ah Fook, l., & Mcneill, l. (2020). click to buy: the impact of retail credit on over-consumption in the online environment. 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