Ryt Bank expands PayLater feature across card payments nationwide

Ryt Bank has announced an expansion of its payment ecosystem, allowing customers to use its Ryt PayLater feature directly through the Ryt Card, in a move aimed at increasing flexibility in everyday transactions.

The latest upgrade extends Ryt PayLater beyond DuitNow QR payments to include card-based transactions via the Visa network. This enables users to choose between immediate payment or deferred instalments across a broader range of scenarios, including in-store purchases, online shopping, and payments at physical terminals.

By integrating DuitNow QR acceptance with Visa’s global network of more than 150 million merchants, the bank is positioning its offering as one of the more comprehensive PayLater solutions available in Malaysia. Unlike many Buy Now, Pay Later (BNPL) services that are limited to selected merchants or platforms, the Ryt PayLater on Card feature is designed to function across multiple payment channels, providing a consistent user experience.

As part of the rollout, new users will receive 1.2% cashback on qualifying PayLater transactions. Additionally, users of the physical Ryt Card can earn RM12 cashback after completing five transactions with a minimum spend of RM20 each, effectively offsetting the card fee.

Focus on financial flexibility and future growth

Ryt Bank says the enhancement is part of its broader strategy to offer practical and customer-focused financial tools that integrate into daily financial habits.

“Financial flexibility should be simple and effortless,” said Wilson Soon, Interim CEO of Ryt Bank. “By enabling Ryt PayLater on Ryt Card, we’re giving customers more ways to pay smarter and manage their spending with greater control, whether they choose to pay immediately or spread their payments over time.”

The PayLater feature provides eligible users with up to RM1,499 in instant credit. Users can benefit from zero interest if outstanding balances are cleared within the first statement cycle, a structure intended to encourage responsible short-term borrowing.

Ryt Bank emphasised that transactions remain fast and secure, supported by both DuitNow QR infrastructure and the Visa payment network. Users are also able to track spending, manage repayments, and access rewards through the bank’s mobile application.

Looking ahead, the bank has signalled plans to introduce Ryt Invest, a new wealth management feature that will be integrated into the same app. The upcoming product is expected to offer a simplified entry point into investing, aligning with the bank’s focus on accessible financial services.

The expansion reflects growing competition in Malaysia’s digital banking and BNPL space, as financial institutions seek to differentiate themselves through convenience, integration, and user-centric design.