The number of active Buy Now, Pay Later (BNPL) account holders rose to eight million in the first quarter of 2026, with RM5.3 billion in outstanding balance.
KUALA LUMPUR: The number of active Buy Now, Pay Later (BNPL) account holders has risen to eight million in the first quarter of 2026, according to the Ministry of Finance (MoF).
MoF said the total outstanding BNPL balance reached RM5.3 billion during the same period, while the total overdue amount is RM181.0 million, or 3.4% of the total outstanding BNPL balance.
“Overall, BNPL debt remains low, accounting for around 0.3% of total household debt in the country as of end-2025,” MoF said in a written reply to the Dewan Rakyat on the Parliament website today.
The ministry also said the Consumer Credit Commission (SKP) has issued the authorisation standards and conduct standards, which set the minimum requirements that all BNPL providers must comply with.
According to MoF, these licensing requirements enable the SKP to ensure that only providers meeting the necessary regulatory, governance, and consumer protection standards are allowed to operate.
“The licence application period opened on June 1, 2026, and existing BNPL providers have until Nov 30, 2026, to submit their respective applications.
“During this period, the SKP is actively engaging with BNPL providers to ensure that they fully meet the licensing requirements,” it added.
