The background of this research is related to a phenomenon of millennials who prefer to change their financial behavior into cashless transactions from cash-based transactions. Factors of benefits (economic benefits, seamless transactions, and convenience) and risks (financial risks, legal risks, security risks, and operational risks) experienced by millennials are examined to observe their effects on the continuance intention of financial technology (FinTech) payment. FinTech users are classified into two types, namely early adopters and late adopters. This study examines the variables of continuance intention of FinTech payment, economic benefits, seamless transactions, convenience, financial risks, legal risks, security risks, operational risks, perceived benefits, and perceived risks simultaneously and is the first to be conducted on millennials in Jakarta. The methodology used was the Structural Equation Modeling-Partial Least Square. The data were collected through questionnaires distributed to 313 respondents. The results of this research show that convenience is the most influential benefit factor towards the continuance intention of FinTech payment. Operational risks are the only factor that do not significantly affect the continuance intention of FinTech payment. The differences between the effects of benefits and risks are found in both of the user types. The implication of this research is to further understand influential factors in millennials’ decisions to use FinTech payment services.