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Deputy Finance Minister Lim Hui Ying revealed that “buy now, pay later” (BNPL) transactions rose sharply from 83.8 million in 2H 2024 to 102.6 million in 1H 2025, with total transaction value increasing by 31% to RM9.3 billion. The number of active BNPL accounts also surged from 5.1 million to 6.5 million in the same period. Highlighting risks of unmanageable debt for low-income and financially illiterate consumers, Lim tabled the Consumer Credit Bill 2025 to establish the Consumer Credit Commission (SKP). The SKP will regulate currently unregulated credit businesses, ensuring responsible lending, fair practices, and enhanced consumer protection nationwide.
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