Buy now, pay later services can make purchases feel more manageable by splitting the cost into instalments, but each transaction still creates a future payment obligation. (Envato Elements pic)PETALING JAYA: Splitting a purchase into several smaller payments can make almost any expenditure feel more manageable. For younger Malaysians in particular, buy now, pay later (BNPL) has clearly become part of everyday spending.
According to a written reply by the finance ministry recently published on the Parliament website, Malaysians aged 30 and below made 65.9 million BNPL transactions worth RM5.4 billion during the first six months of the year. This accounted for 37.9% of all BNPL transactions in the country and 36.7% of their total value.
