KUALA LUMPUR: A total of 168,967 Buy Now Pay Later (BNPL) users in Malaysia have outstanding balances as of June 30, 2025. Deputy Finance Minister Lim Hui Ying disclosed this during a Dewan Rakyat session, stating the figure represents 2.6 per cent of the country’s 6.5 million BNPL users. The total BNPL loan balance stands at RM3.8 billion, accounting for 0.2 per cent of Malaysia’s household debt. Unpaid or overdue BNPL debt amounts to RM121.8 million, or 3.2 per cent of the total BNPL loan balance. Lim assured that the overdue debt remains manageable despite the figures. She was responding to Mohd Syahir Che Sulaiman (PN-Bachok), who inquired about BNPL debt risks and government mitigation efforts. A 2024 study by the Consumer Credit Oversight Board Task Force found BNPL users generally exhibit good financial discipline. The study involved 21,000 active BNPL account holders and revealed an 88 per cent on-time repayment rate. Another 12 per cent made late but full payments, while fewer than 0.5 per cent defaulted entirely. Khoo Poay Tiong (PH-Kota Melaka) raised concerns about consumer protection measures for BNPL users. Lim explained that the upcoming Consumer Credit Commission (CCC) will oversee credit providers under the Consumer Credit Act 2025. The CCC will adopt a risk-based supervisory approach similar to Bank Negara Malaysia and the Securities Commission. Its focus will include fair treatment, transparency, and fostering a responsible credit market. Licensing and conduct standards under the new law will empower the CCC to enforce regulations. Periodic inspections and ongoing monitoring will ensure compliance among credit providers. - Bernama