Buy now, pay later services: Users weigh in on whether they are risky or helpful

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KUALA LUMPUR, July 5 — Aaron SM, 27, made use of buy now, pay later (BNPL) services precisely once and got hounded by SPayLater representatives. To be fair though, it was his...

KUALA LUMPUR, July 5 — Aaron SM, 27, made use of buy now, pay later services precisely once and got hounded by SPayLater representatives. To be fair though, it was his fault.

Some are offered by shopping platforms such as Grab, Shopee, and Fave; others are provided by BNPL platforms like Atome and Split. She used Grab PayLater to purchase an oven and a phone, both items she described as “way overdue for an upgrade”. Yet she still felt the pinch of the installment payments as someone who lives pay cheque to pay cheque.

This is an assessment Aaron agrees with. His background in e-commerce and his experience working in the back-end of such projects have led him to believe BNPL schemes induce low-income groups to spend more money. Natasha Lim Ling Hui, 28, a consultant with an audit firm, was initially drawn to use BNPL for her groceries because of the savings provided by promo codes given by Grab for using its PayLater service.

 

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Please don't. Pesanan dari ibu, ayah, suami dan jiran yang baik!

Buying anything you can't afford is a risk unless its an emergency or it provides positive returns its never helpful.

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