Convenience at a cost: examining the dark side of BNPL in Malaysia

Buy Now, Pay Later (BNPL) is a deferred payment option with zero- interest installments that gained popularity after the COVID-19 pandemic. The concept of BNPL plays a crucial role in e-commerce purchasing decisions by enabling customers to defer payment until the following month. A more convenient way to purchase expensive goods without the struggle of saving money is to make it a viable alternative. As of December 2024, 12 BNPL providers have successfully operated in Malaysia, including four shariah-compliant BNPL providers. The three major BNPL schemes in Malaysia include Shopee PayLater, PayLater by Atome, and Grab.