Active BNPL account holders hit 8mil in Q1 2026
Malaysia's finance ministry reported that active 'buy now, pay later' (BNPL) account holders reached 8 million in Q1 2026, with total outstanding debt at RM5.3 billion. The government is implementing new licensing requirements through the Consumer Credit Commission to improve consumer protection.
Why it matters
The rapid growth of BNPL services necessitates increased regulatory oversight to prevent household debt crises and protect younger consumers.
The finance ministry said BNPL providers are required to obtain a licence from SKP, ensuring that only providers that meet the necessary regulatory, governance and consumer protection standards are allowed to operate. (Bernama pic)
PETALING JAYA: The number of active "buy now, pay later" (BNPL) account holders nationwide rose to eight million in the first quarter of 2026, according to the finance ministry.
The ministry said the total outstanding BNPL balance reached RM5.3 billion during the same period, up from RM4.9 billion on Dec 31, while the total overdue amount stood at RM181 million, or 3.4% of the outstanding balance.
"Overall, BNPL debt remains low, accounting for around 0.3% of total household debt in the country as of end-2025," the ministry said in a written parliamentary reply issued last night.
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