Analysis of Muslim Consumer Behavior In Using Paylater from an Islamic Perspective

Abstract

Financial technology (fintech) has increasingly provided convenience for the community in their economic activities for the last years. One of the fintech that is commonly used is paylater. However, because of the various conveniences that exist, many paylater users behave consumptive or hedonic, so that the behavior of Muslim consumers in using paylater, so it is important to discuss how muslim consumer behavior in using paylater from an Islamic perspective. The purpose of this study is to explains the Islamic economic view of paylater, how Muslim consumers should behave in using paylater and explains alternative solutions to sharia paylater. This research is a literature study. The data collection technique is carried out by the documentation method. The study suggests that in the view of the Islam, paylater contains elements of usury and gharar. Muslim consumers in carrying out consumption activities must know the limits of the Shari'a such as the principles of consumption in Islam, such as principles of tauhid, the principles of science, the principles of simplicity as well as social and environmental principles. It is better to avoid using paylater because in paylater services there are still things that are forbidden by the Shari'a such as usury and gharar. However, if you are pressed for money and can only use a paylater, use a sharia paylater, including Ammana and Kresya. This research is limited to discuss paylater system in gojek and shopee application only which are the two most popular and widely used by users in Indonesia. While other researches are limited to the discussion about consumer behavior, this study also provide information the alternative solutions for Sharia paylater.