Sharia Economics on Payment Methods Paylater (Pay Later) among Millennials

Abstract

Referring to the problems and research questions, this research aims to analyze the sharia economic view of paylater payment methods and the attitude of the millennial generation in using paylater but in accordance with sharia economics. This research is descriptive research using a qualitative approach. In this research, data analysis was carried out by conducting in-depth data processing from various articles or journals related to the application of sharia economics in deferred payment methods (paylater) among millennials. Paylater is a delayed payment method that has developed in Indonesia. Based on Research and Market report data, the market value of paylater services in Indonesia has reached $1.5 billion in 2021, and will experience growth of up to $9.2 billion in 2028 with a CAGR of 29.2%. The advantage of using this paylater feature is buy now, pay later. These advantages are excellent for society, especially the millennial generation. The aim of this research is to analyze the sharia economic view of paylater payment methods among millennials.