The Consumptive Lifestyle Trend Of Young People Drives The Growth Of Multifinance Paylater

According to data from the Financial Services Authority (OJK), the value of BNPL financing disbursed by financing companies reached IDR 8.58 trillion by May 2025, a 54.26% year-on-year (YoY) increase. 

Nailul Huda, Director of the Digital Economy Center of Economic and Law Studies (Celios), believes this growth is inseparable from the characteristics of consumer spending, especially among the younger generation, who are highly consumptive. 

"Young people are known for their YOLO (You Only Live Once) mindset. Their consumption is based solely on current desires. While they are still alive and working, they will consume according to their desires," Nailul told Kontan (July 9). 

Nailul added that sometimes the desires of this group of young people are hampered by their available funds, leading them to resort to BNPL loans. 

However, he also highlighted that pressing economic conditions can also increase demand for BNPL. He believes that people with increasing needs but reduced or even lost income will inevitably seek other sources of financing, one of which is BNPL. 

"Why not a credit card? I've seen the lengthy credit card process, coupled with the uncertainty of being accepted, make people reluctant to apply for a credit card. Our young people are reluctant to deal with this kind of process," he concluded. 

Tag: Lifestyle Trend Multifinance Paylater OJK