Kuala lumpur: Online shopping platforms offering 'Buy Now Pay Later' (BNPL) services have been urged to self-regulate to ensure consumer rights remain protected. Deputy Minister of Domestic Trade and Cost of Living Datuk Dr Fuziah Salleh said the approach was needed pending the introduction of a more comprehensive law.

According to BERNAMA News Agency, Deputy Minister Dr Fuziah advised platform owners to ensure their platforms are used responsibly and with integrity, as the e-commerce law has yet to be tabled in Parliament. She emphasized the need for self-regulation, consumer protection, and fostering a positive culture in the interim period.

Deputy Finance Minister Lim Hui Ying was previously reported to have noted an increase in BNPL transactions to 102.6 million in the first half of this year, a rise from 83.8 million in the second half of 2024. Lim highlighted that the surge in transactions had exposed consumers, particularly low-income earners and those with low financial literacy, to the risk of unmanageable debts.

Meanwhile, commenting on the one-off RM100 cash aid for citizens aged 18 and above, Dr Fuziah stated that it can only be used at designated outlets under the Sumbangan Asas Rahmah (SARA) programme to prevent misuse. She mentioned that enforcement would be carried out continuously to prevent price hikes at the involved outlets.

Dr Fuziah explained that aid recipients must use their identity card to make purchases at any of the 4,100 designated outlets nationwide and are only allowed to buy listed items. This measure is intended to ensure that funds are used for essential items, addressing cases where recipients previously bought non-essential goods.