KUALA LUMPUR: Buy Now, Pay Later (BNPL) transactions surged 23.9% to 173.9 million in the first half of 2026, compared with 140.4 million in the second half of 2025, says Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who is also Finance Minister, said the value of BNPL transactions also rose by 22.5% to RM14.7bil, compared with RM12bil in the second half of 2025.
“Based on data monitored by the Consumer Credit Commission (SKP), the use of BNPL schemes has been on an upward trend among consumers in Malaysia.
“In line with the growing use of BNPL, the number of active account holders increased by 22.7% to 9.2 million as at June 30, 2026, while the total outstanding BNPL financing balance stood at RM6.6bil.
“However, BNPL arrears remained under control at RM220.4mil, or 3.3% of the total outstanding BNPL balance,” he said in a parliamentary reply on Monday (Oct 19).
He was responding to Mohd Syahir Che Sulaiman (PN-Bachok), who asked for an update on the use of BNPL schemes and outstanding payments.
Anwar also said young people accounted for almost 40% of all BNPL transactions, while a survey conducted by SKP found that low-income groups made up about 70% of all active BNPL users.
To strengthen consumers’ financial literacy, SKP is working closely with the Credit Counselling and Debt Management Agency (AKPK) and the Financial Education Network (FEN), leveraging existing platforms, expertise and initiatives to raise awareness of prudent and responsible BNPL use, particularly among young people and low-income groups.
“This whole-of-government approach enables consumer education and awareness efforts to be carried out in an integrated and effective manner without duplicating roles, while drawing on the experience and capabilities of agencies that have long led the country’s financial literacy agenda,” he said.
Anwar said BNPL schemes were regulated by SKP under the Consumer Credit Act 2025 (Act 873), which requires all credit providers and credit service providers, including BNPL providers, to comply with the Conduct Standards and Licensing and Registration Standards established by SKP to ensure that credit is provided fairly and responsibly.
“To protect credit consumers from taking on more debt than they can afford, SKP requires BNPL providers to conduct creditworthiness and affordability assessments before approving financing.
“BNPL providers are also prohibited from granting or increasing credit facilities for consumers who are likely to face difficulties meeting their debt repayment obligations,” he said.
He added that BNPL providers were required to provide clear information on terms, fees and charges, and ensure that their marketing and promotional activities did not mislead consumers.
