BNPL & E-Wallet Credit Under the Consumer Credit Bill 2025

Introduction

Buy Now, Pay Later (BNPL) services and e-wallet credit have become go-to financing tools for many Malaysians. But with their rise has come concern — about hidden fees, unclear terms, and the ease of falling into debt.

The Consumer Credit Bill 2025 (CCB) seeks to change that. It introduces a comprehensive framework to regulate these fast-growing credit options, ensuring Malaysians are protected while borrowing responsibly.

What Are BNPL and E-Wallet Credit Services?

✅ BNPL (Buy Now, Pay Later)

Short-term, interest-free instalments typically offered by platforms like Atome, Grab PayLater, SPayLater, and others.

✅ E-Wallet Credit

Some e-wallet providers (e.g. Touch ‘n Go eWallet, Boost) allow users to make purchases using credit or deferred payments.

They offer:

• Fast onboarding

• Low barriers to access

• Instalments without credit checks

Risks:

• Users may accumulate hidden debt across platforms

• Limited oversight until now

• Ambiguous fees and unclear penalty structures

What Will the Consumer Credit Bill 2025 Change?

1. Licensing Requirement

BNPL and credit-providing e-wallets must:

• Register and obtain licenses from the new Consumer Credit Commission (CCC)

• Be subject to audits, reporting, and strict supervision

Unlicensed players will no longer be allowed to operate legally in Malaysia.

2. Clear Disclosure Rules

All platforms must now:

• Display repayment schedules clearly

• Disclose effective interest rates (if any)

• Provide a breakdown of fees and charges

• Show the total cost of credit upfront

No more vague repayment pages or hidden terms.

3. Creditworthiness Checks

The CCC may enforce:

• Credit checks to avoid overborrowing

• Limits on simultaneous BNPL accounts

• Optional reporting to CTOS / CCRIS

This ensures consumers don’t take on more debt than they can manage.

4. Dispute Handling & Redress

Borrowers will now be able to:

• Lodge complaints via the CCC

• Access standardised dispute resolution

• Hold providers accountable for misconduct

Why This Matters

Until now, BNPL and e-wallet credit services operated in a regulatory grey area. With the CCB in place:

• Malaysians are better protected

• Hidden fees become harder to hide

• Borrowers are more informed before committing

• Platforms must play fair or risk penalties

“Convenience should never come at the cost of clarity.”

What Consumers Can Expect

Over the coming months and years:

• Some BNPL providers may tighten onboarding rules

• Expect standardised disclosure formats

• Users will get better visibility on all short-term debts

• Providers that can't comply may exit the market

How MoneyMart Asia Supports the Change

Though we don’t offer BNPL services, MoneyMart Asia (MMA) strongly supports the CCB’s regulatory push.

✅ We work only with licensed lenders
✅ We promote responsible borrowing through DSR guidance
✅ We never charge upfront fees or hide terms
✅ Our platform helps Malaysians compare loans transparently

As BNPL becomes more regulated, MMA will remain a safe hub for trusted borrowing decisions.

Final Word

The Consumer Credit Bill 2025 brings long-awaited regulation to BNPL and e-wallet credit — giving Malaysians the transparency and protection they deserve.

By making these services more accountable, the government is helping consumers borrow smarter, not just faster.

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This article was published by MoneyMart Asia (www.moneymart.asia). MoneyMart Asia (MMA) is a Loan platform which connects Borrowers to Licensed Lenders in a safe, simple and secure manner. We are registered as MMA FINTECH SDN BHD (1613722-W).