Buy Now Pay Later Over 160k Have Rm121 8b In Overdue Debt Deputy Minister

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PARLIAMENT | A total of 168,967 “Buy Now Pay Later” (BNPL) account holders, or 2.6 percent of the total 6.5 million users, had overdue balances as at June 30, 2025, said Deputy Finance Minister Lim Hui Ying.
She said the outstanding BNPL loan balance for the same period stood at RM3.8 billion, representing 0.2 percent of Malaysia’s total household debt.
However, the amount of BNPL debt that was unpaid or overdue remained manageable, amounting to RM121.8 million or 3.2 percent of the total BNPL loan balance, she said during a question and answer session in the Dewan Rakyat today.
She was responding to a question from Syahir Che Sulaiman (PN-Bachok) regarding the current status of BNPL debt in the country and the government’s efforts to mitigate the risk of excessive indebtedness.
Citing a 2024 study by the Consumer Credit Oversight Board Task Force involving 21,000 active BNPL account holders, Lim said BNPL users generally exhibited good financial discipline.
“They also repaid BNPL loans with a low default rate. According to the study, approximately 88 percent made all payments on time, 12 percent made late but full payments, and fewer than 0.5 percent were unable to repay in full,” she explained.
In response to a supplementary question from Khoo Poay Tiong (Harapan-Kota Melaka) on measures to safeguard consumer interests, Lim said the Consumer Credit Commission (CCC), which will be established under the Consumer Credit Act 2025, will adopt a risk-based and proportionate supervisory approach for credit consumers.
She said supervision would be carried out through periodic inspections and ongoing monitoring, the same methods used by Bank Negara Malaysia and the Securities Commission Malaysia.
“The CCC’s supervisory approach will prioritise the protection of credit consumers, focusing on fair treatment, transparency, and the development of a responsible credit market.
“This will be supported by a regulatory framework that includes licensing and conduct standards under the Consumer Credit Act, empowering the CCC to supervise credit providers and credit service providers, and to take appropriate enforcement action,” she added.
- Bernama

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