Why BNPL is Future of Consumer Financing in Malaysia

The Rising Popularity of BNPL in Malaysia

The appeal of BNPL lies in its user-friendly and interest-free instalment plans.

In a 2024 report (https://fintechnews.my/47148/malaysia/bnpl-malaysia-market-2024/), it was noted that over 3.7 million Malaysians are actively using BNPL services, with numbers expected to grow exponentially. Consumers, especially millennials and Gen Z, prefer this financing option due to its simplicity, transparency, and absence of traditional credit checks.

BNPL like Moby & Moby Islamic BNPL provides a viable alternative to credit cards, which often come with annual fees and high-interest rates. For merchants, the integration of BNPL reduces cart abandonment rates and encourages impulse purchases, which leads to higher revenue for their business.

Leading BNPL providers such as Moby & Moby Islamic PayLater, Grab PayLater, Atome, and Shopee PayLater are helping businesses tap into this growing consumer base by offering seamless, digital-first payment solutions.

— Olivia Rhye, Product Designer

For businesses, BNPL is not just a payment option, it’s a growth enabler. By offering instalment plans, businesses can:

Unlike traditional credit options, BNPL is inclusive. It allows individuals without a strong credit history to access financing, therefore bridging the gap for those who are underserved by banks. This inclusivity has significantly contributed to its widespread adoption in Malaysia, particularly among young professionals and first-time buyers.

• Attract a broader customer base, including those hesitant to pay upfront.
• Increase average transaction value, as customers feel more comfortable purchasing higher-priced items.
• Enhance customer loyalty, with easy repayment options fostering positive shopping experiences.

Developments Driving Confidence

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To ensure the sustainable growth of BNPL in Malaysia, regulators are stepping in to create a safe and consumer-friendly environment. The upcoming Consumer Credit Act (CCA), spearheaded by Bank Negara Malaysia, aims to standardise regulations for non-bank credit providers, including BNPL platforms.

Why Choose BNPL with Moby Malaysia?

At Moby Malaysia, we’re committed to empowering businesses with forward-thinking payment solutions. Our Islamic and conventional BNPL offerings provide an all-in-one platform to help businesses boost sales while offering customers unparalleled convenience.

Whether you're a small business owner or a large merchant, Moby’s BNPL solutions enable you to stay ahead of the curve in a fast-changing market.