RHB Launches Malaysia’s First Pay Later Debit Card-Linked BNPL Solution

Kuala Lumpur – RHB Banking Group (“RHB” or the “Group”) sets a new benchmark by introducing RHB PayLater, Malaysia’s first Buy Now, Pay Later (BNPL) solution directly linked to debit cards. This innovative, groundbreaking offering provides customers with seamless access to interest-free instalment plans, promoting financial flexibility while encouraging thoughtful spending habits. Leveraging customer transaction behaviour as the eligibility criterion, RHB PayLater sets a new standard for inclusive and ethical payment solutions.

This initiative reinforces RHB’s dedication to delivering customer-centric innovations that enhance financial well-being while driving sustainable growth. It addresses the rising demand for convenient and transparent payment options tailored to modern lifestyles.

Dato’ Mohd Rashid Mohamad, Group Managing Director/Group Chief Executive Officer of RHB Banking Group said, “RHB PayLater reflects our commitment to reshaping the financial landscape through responsible innovation. By introducing this seamless and accessible solution, we empower customers to make smarter financial decisions while enjoying greater convenience and flexibility. This initiative is not just about providing a payment option – it’s about fostering financial resilience, rewarding loyalty, and contributing to sustainable growth for individuals and communities. With RHB PayLater, we are delivering on our promise to offer value-driven solutions that adapt to our customers’ evolving needs.”

Key features of RHB PayLater include:

• Innovative Eligibility Assessment for Seamless Access to RHB PayLater: RHB introduces an innovative approach to eligibility assessment, leveraging customer behaviour analysis to pre-qualify over 500,000 existing RHB CASA customers for RHB PayLater. This unique methodology evaluates account activities such as deposits, transactions, and savings behaviour to offer seamless access without requiring additional applications. By actively using their RHB accounts, customers can unlock higher eligibility and enjoy exclusive rewards, making financial flexibility more accessible and rewarding.
• Tailored Payment Flexibility: RHB PayLater provides a revolving limit based on customers’ savings behaviour and account activities, offering personalised instalment plans to suit individual cash flow needs. Customers can easily convert their purchases into 3- or 6-month instalments, providing a practical alternative to traditional credit cards. This innovative solution allows RHB Debit Cardholders to enjoy seamless instalment payments without requiring credit card access.
• Affordable Access to A Wide Range of Goods and Services: With RHB PayLater, customers can afford higher-value items and services by breaking payments into manageable instalments, reducing the burden of large upfront costs. Through partnership with nearly 30 merchants across diverse industries, customers can gain access to over 1,000 outlets nationwide. This extensive network makes shopping more affordable and convenient, enabling customers to enjoy the benefits of RHB PayLater wherever they shop.

“With RHB PayLater, we aim to redefine the way customers manage their finances by offering flexible, interest-free instalments directly linked to their debit cards. This innovation underscores our mission to deliver accessible, transparent, and ethical financial solutions that enhance the overall customer experience,” added Dato’ Mohd Rashid.

Modern alternative to credit cards

Designed as a modern alternative to credit cards, RHB PayLater empowers individuals including those without access to traditional credit cards to achieve financial flexibility and mindful spending habits. By providing practical tools and user-friendly solutions, RHB simplifies financial management, enabling customers to better manage their cash flow while enjoying greater convenience.

This launch, developed in collaboration with a key technology partner, positions RHB as a trailblazer in debit card-linked BNPL solutions, setting a new standard for ethical and inclusive banking practices. It reaffirms RHB’s dedication to advancing Malaysia’s financial ecosystem while solidifying its leadership in digital banking innovation.

For more information about RHB PayLater, visit http://www.rhbgroup.com/rhb-pay-later/index.html or your nearest RHB branch.