tags - Sinar Daily

A total of 168,967 'Buy Now Pay Later' (BNPL) account holders, or 2.6 per cent of the total 6.5 million users, had outstanding balances as at June 30, 2025, said Deputy Finance Minister Lim Hui Ying.

The volume of "buy now, pay later” (BNPL) transactions has increased from 83.8 million in the second half (2H) of 2024 to 102.6 million in the first half (1H) of this year. - Photo illustrated by Sinar Daily

This aerial picture shows skyscrapers in Jakarta's business district on April 14, 2025. (Photo by BAY ISMOYO / AFP)

Higher Education Minister Datuk Seri Zambry Abd Kadir has advised university students nationwide to be cautious and avoid falling into ‘Buy Now, Pay Later’ schemes or high-interest loan traps that could burden them with unmanageable debt. Photo for illustrative purposes only - Pixabay

Photo for illustrative purposes only. Inset: Financial expert Mohamad Faiz Azmi (left) and Islamic law expert Mohd Izhar Ariff Mohd Kashim.

Dr Mohd Afzanizam Abdul Rashid. Photo by Bernama

While many acknowledge BNPL as a convenient financial tool, concerns are growing about its potential to become a hidden debt trap if not managed wisely. Photo for illustrative purposes only - 123RF

As Hari Raya Aidilfitri approaches, Malaysians are increasingly shifting towards cashless transactions, e-commerce, and local brands while preparing for the festive season, according to a new survey by market research firm Milieu Insight. Photo for illustrative purposes only - Canva

Fomca chief operating officer Nur Asyikin Aminuddin said other frequent complaints included consumers not receiving the items they ordered and issues with the Buy Now, Pay Later mechanism, where bank payments failed to be recorded in e-wallets, leaving consumers caught between the bank and e-commerce platforms.

As of December 2024, there were 5.1 million active BNPL users, the majority aged 21 to 45 and earning less than RM5,000 per month. Photo for illustrative purposes only.