Tan said many young Malay­sians are unaware of their credit scores, especially with the gazettement of the Consumer Credit Act 2025. “Against that backdrop, a near-tripling of BNPL users in two years is something we should monitor carefully. “What concerns me most is the normalisation of deferred spending as a lifestyle habit rather than an occasional financial tool. When asked about the Consumer Credit Act 2025 [Act 873], he said it is a timely move with guardrails in place by bringing accountability in terms of lending, charges transparency and consumer protection. So overall, regulation is important not to stop innovation, but to make sure the system remains responsible and sustainable,” he said.

Source: The Star March 17, 2026 11:06 UTC