The phenomenon of online lending (pindar) in Indonesia continues to rise, especially among young people. Easy access, fast processes, and integration with digital platforms have made these services increasingly popular. However, behind this convenience lie various risks if not used wisely.
Ikhwandaru Mandegani, an alumnus of the Undergraduate Management Program at the Faculty of Economics and Business Universitas Gadjah Mada (FEB UGM), class of 2021, examined the factors influencing individuals’ intentions to apply for consumptive online loans, particularly through the SPinjam service. In his thesis titled Analysis of Factors Influencing the Intention to Apply for Consumptive Loans through the SPinjam Online Lending Service, Ikhwandaru involved 200 respondents across Indonesia by combining the Theory of Planned Behavior and Perceived Value Theory. The study analyzed the influence of service quality, cost, risk, social norms, and perceived value on the intention to use online lending.
“This phenomenon is interesting. From 2023 to 2024, individual outstanding loans have continued to increase. One of the largest providers is SPinjam, a lending feature integrated with Shopee that makes applications even easier,” he explained during the 3 Minute Thesis program titled Not Pinjol, It’s Called Pindar: Fast Disbursement, Easy Problems?
Ikhwandaru explained that several factors influence a person’s intention to use online lending services. These include social influences, such as friends and family, as well as perceived service quality, including ease of use, speed, and convenience of the application. The more positive the social influence and the better the service quality, the higher the intention to use the service.
“The results are quite interesting. Many users tend to be pragmatic about risk,” he stated.
These findings indicate that many individuals, especially young people, do not prioritize risk and cost when deciding to borrow. Instead, they focus more on accessibility and user experience rather than considering potential risks and financial burdens.
In addition, the study found that most users do not fully understand the loan cost structure. This condition often occurs due to low financial literacy or unclear information from service providers.
“This study also supports Ajzen’s theory that the environment influences behavior. Encouragement from friends or family makes online lending feel normal. Moreover, young people tend to pay more attention to non-monetary costs rather than risks or financial burdens,” he added.
Therefore, Ikhwandaru hopes that the findings of this study can serve as a basis for evaluating online lending service providers. It could encourage the development of more responsible systems and more appropriate, ethical marketing strategies.
The full 3 Minute Thesis video titled Not Pinjol, It’s Called Pindar: Fast Disbursement, Easy Problems? can be accessed via: 3MTPinjamanDaring
Report by: Kurnia Ekaptiningrum
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