Buy Now, Pay Later and the Digital Lifestyle: An STP Analysis of AlloBank’s Strategy for the Gen Z Market

Abstrak

Generation Z has now entered adulthood, where they begin to make independent financial decisions. At this relatively young age, their attachment to a particular brand or financial product is still in the process of forming. Therefore, it is important to understand the characteristics of Gen Z and the factors that attract them to a product, including financial ones. This paper examines the characteristics of Gen Z and the marketing strategy of AlloBank, a digital bank offering a Buy Now Pay Later (BNPL) product called Allo Paylater. Through descriptive statistical analysis and content analysis, the STP strategy used by AlloBank to market its BNPL product is analysed to assess its alignment with the Gen Z target market. The paper highlights how Gen Z behaviour such as impulsive buying, preference for promotion, and openness to new digital platforms influence their financial decisions. Findings indicate that AlloBank has done its effort at targeting Gen Z but still has room for improvement through personalisation, engagement, and responsible usage features. In addition to that, strengthening credit risk management through improved scoring models and user education is critical for the long-term sustainability of Allo Paylater. These insights provide practical recommendations for digital banks aiming to scale BNPL products while maintaining financial stability and building lasting relationships with younger users.