BNPL: Pay on time to avoid debt burden, users say

SHAH ALAM – The key to successfully managing the ‘Buy Now, Pay Later’ (BNPL) scheme is making timely payments to prevent users from falling into uncontrollable debt.

A regular BNPL user, Raznie Razif, 29, said the scheme is her preferred shopping method as it did not impose any interest rates and offers flexible installment payments.

“This scheme makes shopping much easier, especially on e-commerce platforms, as users can redeem discount coupons to get lower prices.

“With BNPL, I can better plan my monthly budget without needing to spend a large sum of money upfront. This way, it does not affect my other expenses,” she told Sinar.

Raznie emphasised that making timely payments allowed her to manage her finances more effectively.

Previously, the Consumer Credit Oversight Board Task Force of Bank Negara Malaysia (BNM) reported that BNPL users in Malaysia reached 10.3 million last year.

This marks a 16 per cent increase from the previous year, driven by easy access and attractive incentives.

Meanwhile, private sector employee Ain Najihah Borhan, 24, said she frequently used BNPL to purchase electrical appliances.

“BNPL helps me split my payments and save money in the long run.

“However, it must be used wisely, as it can turn into a financial trap if not managed properly,” she said.

Similarly, student Nisa Nabiha Safian, 22, shared that BNPL allowed her to purchase essential items during financial difficulties.

“As a student, my financial resources are just enough to cover my academic and personal needs.

“With BNPL, I can make monthly instalment payments without incurring high interest,” she said.