Financial Technology Paradox: Why Do Attitudes And Literacy Fail To Shape Student Financial Behavior On The Island Of Java
Keywords:
Financial Technology, Financial Attitude, Financial Literacy, Financial Management Behavior, University Students
Abstract
This study aims to analyze the effect of financial technology (fintech) usage on the financial management behaviour of university students in Java, placing financial attitude as a mediating variable and financial literacy as a moderating variable. This research employs an associative quantitative approach by distributing digital questionnaires to 200 active university student respondents selected via purposive sampling. Data were analysed using multiple regression modelling. The findings indicate that the use of financial technology has a positive and significant effect on shaping students' financial attitude. However, neither financial technology usage nor financial attitude shows a direct significant impact on students' actual financial management behaviour. Furthermore, financial attitude fails to perform its role as a mediating variable. From a conditional perspective, financial literacy fails to moderate the pathways toward financial behaviour but significantly moderates the relationship between fintech usage and financial attitude in a negative direction (de-intensifying). These findings confirm a financial technology paradox characterized by an attitude behavior gap among digital natives. Future researchers are advised to expand the geographical distribution of the sample beyond Malang City and integrate external psychological control factors.
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Venkatesh, V., & Davis, F. D. (2000). Theoretical extension of the Technology Acceptance Model: Four longitudinal field studies. Management Science, 46(2). https://doi.org/10.1287/mnsc.46.2.186.11926
Alfina Yuniar Prastika, & Ana Kadarningsih. (2025). Kontribusi Literasi Keuangan, Inklusi Keuangan, dan Teknologi Finansial (Fintech) Pada Perilaku Manajemen Keuangan Mahasiswa. MANAJEMEN, 5(1). https://doi.org/10.51903/manajemen.v5i1.866
Aristawidya, A. E., & Santoso, R. A. (2025). Pengaruh Literasi Keuangan, Financial Technology dan Gaya Hidup terhadap Perilaku Pengelolaan Keuangan pada Mahasiswa Universitas Muhammadiyah Gresik. Management Studies and Entrepreneurship Journal (MSEJ), 6(6). https://doi.org/10.37385/msej.v6i6.9795
Ciptaningtias, A. F., Astungkara, A., Mahesti, T., Akuntansi, J., Negeri, P., Akuntansi, J., Negeri, P., Akuntansi, J., Negeri, P., Knowledge, F., & Attitude, F. (2024). PENGARUH FINANCIAL TECHNOLOGY, FINANCIAL KNOWLEDGE DAN FINANCIAL ATTITUTE TERHADAP FINANCIAL MANAGEMENT BEHAVIOUR MAHASISWA. 25(02), 1–10.
Erawati, T., & Lado, N. P. (2024). Literasi Keuangan Terhadap Perilaku Pengelolaan Keuangan Pada Mahasiswa Fakultas Ekonomi Universitas Sarjanawiyata Tamansiswa. Jurnal Literasi Akuntansi, 4(2). https://doi.org/10.55587/jla.v4i2.114
Fadiyah, N. L., & Widodo, H. (2024). Financial Technology and Literacy Shaping Students’ Financial Management with Digital Literacy. Indonesian Journal of Law and Economics Review, 19(4). https://doi.org/10.21070/ijler.v19i4.1160
Galli, E. (2019). Kahneman, D., Thinking, Fast and Slow. Journal of Public Finance and Public Choice, 29(1–3). https://doi.org/10.1332/251569211x15665367493742
Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25 Edisi 9. Semarang: Badan penerbit Universitas Diponegoro. Variabel Pemoderasi. E-Jurnal Akuntansi Universitas Udayana, 23(2).
Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. In European Business Review (Vol. 31, Issue 1). https://doi.org/10.1108/EBR-11-2018-0203
Irawati, R., & Kasemetan, S. L. E. (2023). Pengaruh Literasi Keuangan, Gaya Hidup, Sikap Keuangan Terhadap Perilaku Pengelolaan Keuangan Mahasiswa. Jurnal EMA, 8(1). https://doi.org/10.51213/ema.v8i1.312
Khotijah, V. St., Jehan, A., Mujahidin, A., & Rohman, N. (2025). Pengaruh Financial Literacy, Peer Influence, Dan Fintech Payment Terhadap Financial Management Behavior Pada Mahasiswa. Bisma: Jurnal Bisnis Dan Manajemen, 19(1), 15–24.
Lee, I., & Shin, Y. J. (2018). Fintech: Ecosystem, business models, investment decisions, and challenges. Business Horizons, 61(1). https://doi.org/10.1016/j.bushor.2017.09.003
Merlin Maharani, & Mega Rosdiana. (2026). PENGARUH LITERASI KEUANGAN, EFIKASI DIRI KEUANGAN, PENGGUNAAN FINTECH TERHADAP MANAJEMEN KEUANGAN MAHASISWA S1 AKUNTANSI UNIVERSITAS WIJAYA KUSUMA SURABAYA. Jurnal Ilmiah Akuntansi, 3(2). https://doi.org/10.69714/4jmwgk84
Mulya, A. T., & Juwita, H. A. J. (2024). Pengaruh Financial Technology Payment, Financial Knowledge Dan Financial Attitude Terhadap Financial Management Behavior. Jurnal Management Risiko Dan Keuangan, 3(3). https://doi.org/10.21776/jmrk.2024.03.3.06
Nicoletti, B. (2017). The Future of FinTech. In The Future of FinTech. https://doi.org/10.1007/978-3-319-51415-4
Permadani, A. A., & Sartika, F. (2025). PENGARUH FINTECH DAN FINANCIAL LITERACY TERHADAP PERILAKU KONSUMTIF BELANJA ONLINE E-COMMERCE SHOPEE DENGAN SELF CONTROL SEBAGAI MEDIASI (STUDI PADA MAHASISWA PTN MALANG). Oikos: Jurnal Kajian Pendidikan Ekonomi Dan Ilmu Ekonomi, 09, 420–433.
Prelec, D., & Loewenstein, G. (1998). The red and the black: Mental accounting of savings and debt. Marketing Science, 17(1). https://doi.org/10.1287/mksc.17.1.4
Putri Handayani Lestari, Titin Agustin Nengsih, & Fitri Ana Siregar. (2024). Analisis Pengaruh Literasi Keuangan Syariah, Financial Self Efficacy dan Fintech Payment terhadap Manajemen Keuangan Pribadi Mahasiswa. Jurnal Bisnis, Ekonomi Syariah, Dan Pajak, 1(3). https://doi.org/10.61132/jbep.v1i3.511
Sarah Nurhanifah, & Syarif, D. (2024). Financial Behaviour Mahasiswa di Kota Bandung dan Faktor – Faktor yang Mempengaruhinya. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 10(2). https://doi.org/10.35870/jemsi.v10i2.2268
Simon, H. A. (1955). A behavioral model of rational choice. Quarterly Journal of Economics, 69(1). https://doi.org/10.2307/1884852
Soman, D. (2001). Effects of payment mechanism on spending behavior: The role of rehearsal and immediacy of payments. Journal of Consumer Research, 27(4). https://doi.org/10.1086/319621
Susilowati, N., Alnadhifah, V., Fitriana, S., Mahardika, P. W., & Saputra, B. B. (2025). Pengaruh Financial Technology (Fintech) Payment dan Literasi Keuangan Terhadap Perilaku Konsumtif Mahasiswa. Jurnal Ekonomi Dan Pendidikan, 22(2). https://doi.org/10.21831/jep.v22i2.89987
Venkatesh, V., & Davis, F. D. (2000). Theoretical extension of the Technology Acceptance Model: Four longitudinal field studies. Management Science, 46(2). https://doi.org/10.1287/mnsc.46.2.186.11926
Published
2026-06-27
How to Cite
Amiqul Hikam, M., Muniroh, R. N., Anggraeni, D., Aulya, R. D. N., & Sinollah. (2026). Financial Technology Paradox: Why Do Attitudes And Literacy Fail To Shape Student Financial Behavior On The Island Of Java. International Journal of Economics, Business and Innovation Research, 5(04), 2452-2472. https://doi.org/10.63922/ijebir.v5i04.4511
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