RIBA DIGITAL DALAM ERA PAYLATER: A SHARIA ECONOMIC LAW PERSPECTIVE ON MILLENNIAL CONSUMERISM

Abstract

The paylater phenomenon has become one of the most popular digital financial innovations, especially among the millennial generation. Ease of access, fast process, and installment system make many users unaware that this service has the potential for usury in digital transactions. This article examines the practice of paylater from the perspective of Islamic economic law and its implications for the consumption patterns of the millennial generation. With a normative and sociological approach, this journal highlights aspects of fiqh muamalah, fintech regulations, and the psychological conditions of young consumers. The results show that most existing paylater services contain elements of usury and unclear contracts (gharar). This study recommends reforming the paylater business model based on Islamic principles, increasing Islamic financial literacy, and regulatory supervision of digital financial products.