Behavior and Factors Influencing Debt Accumulation through SPayLater Service among Undergraduate Students in Bangkok and Metropolitan Areas

Abstract

This research aimed to (1) study the behaviors and factors influencing debt accumulation through the SPayLater service among undergraduate students in Bangkok and its metropolitan area, and (2) analyze the factors affecting the ability to repay debts through this service. This quantitative study sampled 400 participants using stratified sampling based on the type of educational institution, including (1) open-admission public universities, (2) Rajabhat universities and Rajamangala University of Technology, (3) autonomous and limited-admission public universities, and (4) private universities. Quota sampling was then applied to select 100 participants from each category, and data were collected via convenience sampling. The instrument used was a questionnaire. Data analysis involved descriptive and inferential statistics, including mean, percentage, maximum-minimum values, standard deviation, multiple regression analysis, and logistic regression analysis. The results revealed that (1) factors significantly associated with debt accumulation through SPayLater include income level, expenditure level, expected income, frequency of service usage, impulsive spending behavior, product literacy, product factors, and financial behaviors; (2) factors significantly influencing debt default through SPayLater include age, income level, expenditure level, debt behavior via buy-now-pay-later service, approved credit limit, chosen installment period, payment management methods, and financial attitudes. Based on these findings, policy recommendations suggest that the private sector should develop automated payment and notification systems; the public should be promoted to enhance financial skills to avoid unplanned debt behavior; and the government should integrate financial knowledge into the education system and appropriately regulate digital credit for groups with unstable incomes.