Perkembangan dan inovasi digital di sektor keuangan sudah mengubah cara masyarakat dalam memperoleh layanan keuangan, khususnya dalam bentuk pinjaman online. Peningkatan pengguna pinjaman online di Indonesia didominasi oleh usia 19-34 tahun dimana merupakan kelompok usia generasi Z dan generasi milenial. Proses pengajuan hingga pencairan yang cepat, mudah, praktis serta tanpa agunan menjadi daya tarik utama dari pinjaman online, namun di balik itu tersimpan risiko finansial yang cukup tinggi. Penelitian ini bertujuan untuk mengetahui pengaruh literasi keuangan digital, persepsi kemudahan dan persepsi risiko terhadap keputusan penggunaan pinjaman online dengan persepsi manfaat sebagai variabel mediasi di kalangan generasi Z di Kecamatan Kuningan. Metode penelitian yang digunakan adalah kuantitatif dengan pendekatan survei melalui penyebaran kuesioner kepada 190 responden berusia 18-30 tahun yang pernah atau sedang menggunakan pinjaman online dan mempunyai penghasilan serta berdomisili di Kecamatan Kuningan. Teknik analisis data menggunakan Structural Equation Modelling Partial Least Square (SEM PLS). Hasil penelitian menunjukkan bahwa literasi keuangan digital berpengaruh positif dan signifikan terhadap keputusan penggunaan pinjaman online. Persepsi kemudahan berpengaruh negatif dan tidak signifikan terhadap keputusan penggunaan pinjaman online. Persepsi risiko berpengaruh negatif dan signifikan terhadap keputusan penggunaan pinjaman online. Literasi keuangan digital berpengaruh positif dan signifikan terhadap persepsi manfaat penggunaan pinjaman online. Persepsi kemudahan berpengaruh positif dan signifikan terhadap persepsi manfaat penggunaan pinjaman online. Persepsi risiko berpengaruh negatif namun tidak signifikan terhadap persepsi manfaat penggunaan pinjaman online. Persepsi manfaat berpengaruh positif dan signifikan terhadap keputusan penggunaan pinjaman online. Persepsi manfaat memediasi literasi keuangan digital terhadap keputusan penggunaan pinjaman online. Persepsi manfaat memediasi persepsi kemudahan terhadap keputusan penggunaan pinjaman online. Persepsi manfaat tidak mampu memediasi persepsi risiko terhadap keputusan penggunaan pinjaman online.

Digital developments and innovations in the financial sector have changed the way people access financial services, particularly online loans. The rise in online loan users in Indonesia is dominated by those aged 19-34, representing Generation Z and millennials. The fast, easy, practical, and collateral-free application and disbursement process is the main attraction of online loans, but behind this lies a fairly high financial risk. This study aims to determine the influence of digital financial literacy, perceived ease of use, and perceived risk on the decision to use online loans, with perceived benefits as a mediating variable among Generation Z in Kuningan District. The research method used was a quantitative survey approach through the distribution of questionnaires to 190 respondents aged 18-30 who had or were currently using online loans, had income and were domiciled in Kuningan District. The data analysis technique used Structural Equation Modeling Partial Least Square (SEM PLS). The results showed that digital financial literacy had a positive and significant effect on the decision to use online loans. Perceived ease of use had a negative and insignificant effect on the decision to use online loans. Perceived risk had a negative and significant effect on the decision to use online loans. Digital financial literacy has a positive and significant effect on the perceived benefits of using online loans. Perceived ease of use has a positive and significant effect on the perceived benefits of using online loans. Perceived risk has a negative but insignificant effect on the perceived benefits of using online loans. Perceived benefits have a positive and significant effect on the decision to use online loans. Perceived benefits mediate the effect of digital financial literacy on the decision to use online loans. Perceived benefits mediate the effect of perceived ease on the decision to use online loans. Perceived benefits do not mediate the effect of perceived risk on the decision to use online loans.