Buy now, pay later: Malaysians 30 and below spent RM5.4b

Malaysians aged 30 and below spent RM5.4 billion on buy now, pay later (BNPL) in the first half of 2026. Bernama reported that they made 65.9 million transactions.

The Finance Ministry gave the figures in a written reply to Parliament on 14 October. It said RM96.8 million of the money owed was non-performing.

Here is what the figures show, how much is unpaid, what the rules say, and how disputes are handled.

What the BNPL figures show

The ministry said the 65.9 million transactions were 37.9% of all BNPL transactions in Malaysia. The national total was 173.9 million, worth RM14.7 billion.

Young users therefore made 36.7% of the total value, Bernama reported. That is more than a third of both the number and the value of all BNPL purchases. By our own calculation, the average purchase was about RM82.

The reply was published on the Parliament website. It answered Datuk Dr Alias Razak (PN-Kuala Nerus). He asked how the Consumer Credit Commission protects young people from heavy debt.

The Star carried the same figures. Neither report names a minister, so we credit the reply to the ministry.

How much is unpaid

As of 30 June 2026, young users owed RM2.4 billion in BNPL financing, Bernama reported. Of that, RM96.8 million was non-performing.

The ministry put that at 4.0% of the outstanding balance. The Star described the same amount as unpaid.

The reply does not say how many young users there are. It names no providers and gives no comparison with earlier periods.

One law-firm summary, DFDL, cites a government task force for national figures. It lists 140.4 million transactions worth RM12 billion in the second half of 2025. It also lists 7.5 million active accounts and RM4.9 billion outstanding. We do not compare those with the new data, because the sources differ.

What the Consumer Credit Act rules say

The Consumer Credit Act 2025 came into force on 1 March 2026, The Vibes reported, quoting the Finance Ministry. The Consumer Credit Commission started at the same time.

BNPL operators must now get a licence from the commission. Licensing took effect on 1 June 2026, with a six-month transition, DFDL said.

The ministry told Parliament that providers must check a customer can afford to repay. They must look at total commitments, including bank and non-bank credit, The Star reported.

It warned that heavy, uncontrolled use of several BNPL services at once could lead to high repayments. It reminded users that BNPL is debt that must be repaid.

Disputes and unauthorised purchases

In a second written reply, Howard Lee (PH-Ipoh Timur) asked about collections during fraud disputes. He asked whether providers should freeze payment demands and late fees.

The ministry said providers need not pause collections while a case is investigated. Neither the Act nor the commission’s standards require it, The Star reported.

Providers must still settle complaints fairly, openly and quickly. The standards also require identity checks and a “kill switch”, so users can freeze accounts if they suspect fraud.

The ministry also said users are not liable for unauthorised transactions. That applies when the breach came from the provider’s own system failures or security lapses.