Rising BNPL Level

Local consumer 'buy now, pay later' (BNPL) transactions surged in the second half of 2024 (2H2024), reaching RM7.1 billion, up from RM4.9 billion in 1H2024. 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. Twelve companies were offering BNPL services.

The growing use of BNPL in Malaysia had raised concerns over household debt levels, the overall increase in transactions remains manageable. 

As of December 2024, BNPL loans stood at RM2.8 billion, accounting for just 0.2% of total household debt in the country. Meanwhile, outstanding BNPL loans remained under control at RM82.6 million, or 2.9% of total BNPL credit.