KUALA LUMPUR, August 7 — “Buy now, pay later” (BNPL) transactions surged to RM9.3 billion in the first half of 2025, up 31% from RM7.1 billion in 2H 2024, raising alarms over rising debt risks among low-income Malaysians.
Deputy Finance Minister Lim Hui Ying warned that the sharp increase in usage, especially among those with limited financial literacy, could lead to unmanageable debt levels. To address this, the Ministry of Finance has tabled the Consumer Credit Bill 2025.
And will establish the Consumer Credit Commission (SKP) to regulate unmonitored credit providers and enforce responsible lending. The bill aims to protect credit consumers, introduce proper licensing frameworks, and ensure transparency and fairness across Malaysia’s expanding credit industry.
