The development of financial technology has driven the emergence of various innovations in digital financial services, one of which is the Buy Now, Pay Later (BNPL) or PayLater service. This service offers convenience and payment flexibility through installment schemes integrated with e-commerce platforms and other applications. In Indonesia, PayLater has experienced significant growth, supported by the large number of e-commerce users and increasing financial inclusion. However, this convenience also raises concerns about impulsive buying behavior (IBB), which is influenced by perceived utilitarian value (PUV) and perceived hedonic value (PHV). On the other hand, the level of financial literacy (FLI) in Indonesia has not fully kept up with the growth of financial inclusion. Therefore, this study aims to examine the influence of PUV and PHV on IBB, as well as to evaluate the role of FLI as a mediating and moderating variable. Data were collected from 350 PayLater users in the Greater Jakarta area (Jabodetabek) and analyzed using the Structural Equation Modeling (SEM) approach through SmartPLS 4.0. The results show that both PUV and PHV significantly influence IBB. However, FLI does not serve as either a mediator or a moderator in these relationships. These findings indicate that the convenience and enjoyment provided by PayLater services continue to encourage impulsive behavior, even among users with a strong level of financial literacy
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