The Buy First Pay Later (BNPL) service currently records over 168,000 overdue accounts as of June 30, 2025, representing 2.6% of the total 6.5 million active users in Malaysia. The total outstanding balance is reported to have reached RM121.8 million, equivalent to 3.2% of the total value of BNPL loans of RM3.8 billion.
Although this figure shows an increase in the use of BNPL, it only contributes 0.2% of the country's total household debt. This fact shows that the level of risk is still under control. A study by the Consumer Credit Monitoring Board Task Force also found that the majority of BNPL users practice good financial discipline with the majority making payments on time.
As a more comprehensive regulatory measure, the government will implement the Consumer Credit Act 2025, which also includes the establishment of the Consumer Credit Commission (SKP). This Commission will be responsible for supervising all credit providers and credit services that were previously outside the regulatory framework, including BNPL, factoring companies, leasing companies and debt collection agencies.
Through a risk-based approach and periodic inspections, the SKP is expected to strengthen consumer protection and ensure that the credit market develops responsibly and transparently.