BNPL regulation must address debt accumulation across platforms – Consumers associations
The Federation of Malaysian Consumers Associations (Fomca) has called for BNPL regulations to address debt accumulation across multiple platforms, warning that current affordability checks risk becoming a 'box-ticking exercise'. Fomca CEO Dr Saravanan Thambirajah said providers cannot see a consumer's total commitments across different platforms, which could lead to a debt trap.