BNPL Can Work For Your Cash Flow, But Only If You’re Careful

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Buy Now Pay Later, or BNPL, has become a common way to pay. It offers flexibility by splitting purchases into smaller instalments, but it also comes with a level of caution that has not gone away.

Usage continues to grow. In the first half of 2025 alone, BNPL recorded 102.6 million transactions. At the same time, a survey by SeaMoney noted a 9 percent drop in credit card usage, suggesting that some users are shifting towards alternative payment methods.

Even so, scepticism remains.

One user, Che’gu Hafiz, shared that he initially avoided BNPL services. Like many others, he was unsure whether it would lead to unnecessary spending.

That view changed after he began using SPayLater, Shopee’s BNPL service.

According to his experience, some transactions came with small cash rewards when payments were made via DuitNow. Screenshots he shared showed bonuses ranging from RM2 to RM5. Not every transaction included a reward, but they appeared frequently enough to be noticeable.

The amounts are modest, but they add up over time. More importantly, they change how users perceive the cost of using BNPL.

Used carefully, BNPL can help manage short-term cash flow.

Instead of paying a full amount upfront, users can spread costs across several months. This can be helpful for routine spending, provided repayments are planned and consistent.

Hafiz’s approach is to stay disciplined, avoid overspending, pay on time, and avoid late charges.

The growth of BNPL has also brought visible misuse, particularly among younger users.

Some treat it as extra spending power rather than deferred payment. In more extreme cases, users accumulate debt across multiple platforms and delay repayments.

Bank Negara Malaysia reported that overdue BNPL debt rose to 3.2 percent in October 2025, up from 2.9 percent the year before. Outstanding BNPL debt reached RM3.8 billion, about 0.2 percent of total household debt.

BNPL does not remove the cost of a purchase. It only changes when you pay for it.

For some users, that flexibility helps with day-to-day budgeting. For others, it makes it easier to lose track of spending, especially when multiple instalments overlap.