KUALA LUMPUR: The volume of “buy now, pay later” (BNPL) transactions in Malaysia surged to 102.6 million in the first half of 2025, up from 83.8 million in the second half of 2024.
Deputy Finance Minister Lim Hui Ying highlighted concerns over rising consumer risks, particularly among low-income groups with limited financial literacy.
The total value of BNPL transactions increased by 31 per cent, reaching RM9.3 billion in 1H 2025 compared to RM7.1 billion in 2H 2024.
Active BNPL accounts also rose from 5.1 million at the end of 2024 to 6.5 million by June 2025.
To address these risks, the government is establishing the Consumer Credit Commission (SKP) under the Consumer Credit Act. Lim stated, “The commission will regulate currently unregulated sectors through a licensing and registration framework.”
The Consumer Credit Bill 2025 aims to protect consumers by ensuring responsible lending practices and promoting a fair credit industry.
Lim added, “This bill reflects the government’s commitment to a safer credit ecosystem.” – Bernama
