Bank of Thailand to Tighten BNPL Rules

The Bank of Thailand (BOT) plans to tighten controls on buy now, pay later (BNPL) services from December to tackle rising household debt problems and build the public’s “financial immunity”, Thailand Business News reported on Thursday (Nov 5).

The central bank said the rules are not intended to stifle innovation or eliminate BNPL, but to keep credit growth within established standards by weighing up the risks involved.

Five proposed measures

The BOT has proposed five measures and invited public comment on them:

Users of BNPL services must be over 20 years old.
Credit limits capped at 20,000 baht, with repayment within six months.
Combined interest, penalties and fees capped at 15 per cent a year.
Credit lines cannot be converted into cash or digital money, withdrawn, or transferred to other credit accounts.
Providers must follow fair debt collection practices and clearly show the amount owed and interest due.

Rapid growth in BNPL credit

A BOT survey of seven major BNPL providers found the number of credit accounts rose by an average of 90 per cent a year, while credit amounts grew 88 per cent annually.

BNPL credit stood at 22 billion baht across 4.23 million accounts in 2024, rising to 48 billion baht across 8.15 million accounts in 2025. In the first half of 2026, it reached 57 billion baht across 11 million accounts.

BOT Governor Vitai Ratanakorn said BNPL has grown faster than personal loans and credit cards, and that some consumers now use it for everyday purchases. Without oversight, easy access to credit could add to debt burdens, especially among younger and financially vulnerable users, he said, according to the report.

What’s next

The BNPL rules form part of a wider package. Fintech News Singapore reported on Oct 30 that the central bank expects to introduce five measures between November 2026 and March 2027 covering stablecoins, BNPL services and high-value gold transactions, including proposed restrictions on cash payments for gold above 10 million baht.

The same report said the BOT has cut fees across 19 financial services, potentially saving consumers and businesses up to 8 billion baht a year, and has kept the minimum credit card repayment rate at 8 per cent to support about two million debtors.

#businessnews