Credit limit, interest rate among issues to be tightened in Buy Now, Pay Later framework

Credit limit, interest rate among issues to be tightened in Buy Now, Pay Later framework

3 days ago

KUALA LUMPUR: The move to regulate the Buy Now, Pay Later (BNPL) facility is timely and among the issues that need to be addressed is the amount of credit an individual can take, said economic expert Professor Datuk Dr Shazali Abu Mansor. BNPL is a type of short-term financing that allows consumers to make purchases and pay for them at a future date, often interest-free. The existing arrangement does not really look into the consumers' credit ratings or BNPL providers running a thorough credit check.

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