Malaysia’s financial scene just got a shake-up with RHB PayLater, the country’s first Buy Now, Pay Later (BNPL) solution directly linked to debit cards. Unlike traditional BNPL services or credit cards, this lets you split payments without applying for new credit. Sounds convenient, right? But is it really a smarter financial choice, or just another way to make spending easier?
Instalments Without the Credit Card Hassle
So, what makes RHB PayLater stand out? Instead of downloading an extra app or going through tedious applications, you just use your RHB debit card to shop and automatically split payments into three- or six-month installments. No credit checks, no guarantors, no separate accounts, just tap, pay, and spread out the cost.
You can use RHB PayLater at various merchants like Machines, Al-Ikhsan Sports, Gamers Hideout, Switch, and more. This opens the door for customers who don’t want a credit card but still want the benefits of BNPL.
Dato’ Mohd Rashid Mohamad, Group Managing Director/CEO of RHB Banking Group, puts it this way:
“By introducing this accessible solution, we empower customers to manage their finances more effectively while enjoying greater convenience and flexibility.”
Who Qualifies? RHB’s Smart Eligibility System
Unlike typical BNPL providers that require an application process, RHB PayLater uses an innovative eligibility assessment system. Instead of checking your credit score, RHB looks at how you already use your bank account, your deposits, transactions, and savings habits. Based on this data, they’ve already pre-qualified over 500,000 RHB CASA customers for PayLater.
One of the biggest draws of RHB PayLater is the ability to customize your instalments. Instead of being locked into rigid payment terms, you can choose between three- or six-month installments, making it easier to manage expenses.
And here’s the kicker; no credit card required. This is a huge plus for those who don’t want the hassle of credit approvals but still want to enjoy structured repayments. However, users need to be mindful: if you miss a payment, finance charges of 1.25% per month (or 15% per year) will apply, similar to credit card interest rates.
Making Big Purchases More Affordable
Big-ticket items can feel like a financial stretch, but RHB PayLater helps take the sting out of lump-sum payments. Instead of paying a large sum upfront, you can spread the cost into bite-sized chunks.
With 30 merchant partners and over 1,000 business outlets, customers can enjoy PayLater across various industries. Whether it’s tech gadgets, sportswear, or personal services, you now have a smarter way to shop without straining your budget.
From 4 February 2025 until 30 April 2025, you can get RM 25 cashback on your RHB PayLater purchase with a minimum spend of RM500.
Is This Really a Credit Card Alternative?
At its core, RHB PayLater functions like a credit card’s installment plan, without the actual credit card. Unlike credit cards, it doesn’t offer revolving credit, and users are pre-qualified based on banking activity rather than an application process.
But let’s not forget: BNPL isn’t free money. If you miss a repayment, you’ll be charged interest, just like a credit card. The key difference is accessibility: you don’t need a credit score to use PayLater, making it a practical alternative for many Malaysians.
Final Verdict: Is RHB PayLater Worth Trying?
For those who don’t qualify for a credit card but want flexible payment options, RHB PayLater is a welcome solution. Its automatic eligibility, simple debit card integration, and interest-free instalments make it attractive for everyday consumers.
However, financial responsibility is key. BNPL is a great tool if used wisely, but it can also become a slippery slope to overspending. The best approach? Only use BNPL for purchases you can already afford, and always keep track of repayments.
Would you use RHB PayLater for your next big purchase? Let us know!
For more info, check out the RHB PayLater page here.
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