KUALA LUMPUR, August 7 — Approximately 168,967 'Buy Now Pay Later' (BNPL) account holders, or 2.6 per cent of the total 6.5 million users, had overdue balances as at June 30, 2025, said Deputy Finance Minister Lim Hui Ying.
The outstanding BNPL loan balance for the same period stood at RM3.8 billion, representing 0.2 per cent of Malaysia's total household debt.
Speaking at the question and answer session in the Dewan Rakyat today, she said the amount of BNPL debt that was unpaid or overdue nonetheless remains manageable, amounting to RM121.8 million or 3.2 per cent of the total BNPL loan balance.
Lim was responding to Bachok MP Mohd Syahir Che Sulaiman's query on 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, she said BNPL users generally exhibited good financial discipline.
"They also repaid BNPL loans with a low default rate. According to the study, approximately 88 per cent made all payments on time, 12 per cent made late but full payments, and fewer than 0.5 per cent were unable to repay in full," Lim said.
In response to Kota Melaka MP Khoo Poay Tiong's supplementary question on measures to safeguard consumer interests, the deputy minister 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.
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 said.
