Key Takeaways
- The “Big 3” BNPL providers, Atome, Grab PayLater, SPayLater, dominate Malaysia’s interest-free installment market.
- Atome now offers 3 interest-free instalments, with selected merchants supporting 6/9/12 months at a 1.5% monthly rate.
- Grab PayLater charges a RM10 reactivation/admin fee per missed payment (instalments capped at RM30).
- SPayLater is 0% for 1-month; longer tenures charge 1.5% per month, with a flat RM10 late fee.
- 7 other BNPL platforms offer alternative terms, wider credit windows, or cashback perks for specific shopping styles.
Malaysia’s most popular BNPL options include Atome, Grab PayLater, and SPayLater by Shopee, each offering flexible installment plans with minimal or zero interest for eligible users.
From groceries in the middle of the month to last-minute computer upgrades during 11.11 sales, more Malaysians are choosing to “buy now, pay later.” What started as a credit card alternative has now gone app-based, frictionless, and fully accepted in our daily lives.
Today, we break down the 10 most widely used BNPL platforms in Malaysia, with side-by-side comparisons on fees, payment terms, and how each one works.
Table of Contents
10 BNPL Providers in Malaysia
BNPL Provider | Best For | Interest / Fees | Repayment Terms |
Atome | Fashion and retail shoppers | 0% if on time; late charge up to RM23. | 3 months; 6/9/12 months at selected merchants |
Grab PayLater | Grab ecosystem users | 0%; RM10 reactivation/admin per missed payment | Pay next month or 4 splits |
SPayLater | Shopee-oriented buyers | 0% (1-month), 1.5%/month for 3–24 months | 1, 3, 6, 12, 18, 24 months |
Split | Shariah Compliance: Certified by Masyref Advisory | No interest, no admin, no late fees | 2–3 months |
FavePay Later | Lifestyle, dining, wellness | 0% if paid on time | Up to 3 months |
MobyPay | High-value or long repayment needs | Processing/platform fees; Islamic plan 0% (fees may apply) | 2, 3, 6 months |
Rely | Regional fashion e-commerce | Varies by merchant; often interest-free promotions | Up to 3–4 months (merchant-set) |
Pine Labs | Merchant BNPL deployment at scale | 0% via partner banks | Custom by bank/merchant |
Akulaku | Credit-linked BNPL users | Credit-profile-based; terms vary | Flexible by user profile |
PayLater (Fatfish Group) | Quarterly instalments for general retail | 0% interest over 4 months; fee policies not standardised publicly (merchant-led) | 4 monthly payments |
Disclaimer: This guide is informational and not financial advice. Fees, limits, and eligibility may change. Always review a provider’s latest terms in-app before purchase.
1. Atome
Launched in Singapore in 2019 and quickly adopted by Malaysian shoppers, Atome is now a go-to BNPL app at checkout. You’ll find it at most fashion, beauty, lifestyle, and gadget retailers,both online and in-store.
Its appeal? A clean 3-month, 0% interest plan and instant signup with just your MyKad and phone number. Atome targets younger, mobile-first users and offers a smooth app experience, but no flexibility beyond three months.
Key Features
• Interest: None (if paid on time)
• Tenure: 3 months + 6/9/12 months at 1.5% monthly (selected merchants)
• Fees: late fee up to RM23 (+ possible RM7 penalty)
• Credit check: Soft internal checks only
• Usage: App + integrated checkout
Why Malaysians Like It
• Widely accepted, supports Zalora, Switch, Machines, and many in-store chains
• Instant signup with basic info, no income proof or paperwork needed
• Simple repayment tracking through app with push reminders
• Great for small-to-mid purchases like skincare, headphones, or dinner sets
• Encourages financial discipline with capped 3-month window
Things to Watch Out For
• Fixed 3-month term only, no 6- or 12-month option
• Risk of account lock if a single payment fails
• Users with good repayment may still face tight spending limits due to risk scoring
2. Grab PayLater
As part of the Grab ecosystem, Grab PayLater covers everything you come to expect, transport, food delivery, bill payments, and e-commerce.
Users can split payments into four monthly instalments with zero interest, or defer a lump sum payment to the following month.
The service integrates with your existing GrabPay Wallet and rewards system, making it one of the most “sticky” BNPL tools in Malaysia for loyal users.
Key Features
• Interest: None (if repaid on time)
• Tenure: 1-month deferred or 4-month instalments
• Fees: RM10 reactivation/admin fee per missed payment
• Credit check: Internal Grab credit scoring
• Usage: Grab app only (rides, mart, food, partner stores)
Why Malaysians Like It
• Automatically available to eligible Grab users, no new app needed
• Covers essential spending: groceries, food, bills, and rides
• Flexible choice: defer by 1 month or split into 4 parts
• GrabRewards points still earnable on PayLater purchases
• Spend limit increases with usage and repayment history
Things to Watch Out For
• Not available for all users, eligibility based on history
• Limited to Grab ecosystem and select merchants only
• Payment defaults may affect Grab Wallet and other services
• Cannot adjust instalment terms once selected
3. SPayLater (Shopee)
SPayLater is Shopee’s own in-house BNPL solution, designed for high-volume e-commerce shoppers. It offers monthly instalments up to 24 months with competitive interest rates, and a 0% one-month option for select deals.
Accessible directly from the Shopee app, it provides one of the widest credit limits for repeat buyers in Malaysia. Approval is fast, but overuse may impact ShopeePay performance or cause account flags.
Key Features:
• Interest: 1.5%/month
• Tenure: 1 to 24 months
• Fees: RM10 late fee (or principal if under RM10)
• Credit check: Internal Shopee scoring + CTOS
• Usage: Shopee app only
Why Malaysians Like It
• Available instantly for eligible Shopee users, no extra app
• Up to 24-month terms make big purchases more accessible
• Great for high-ticket items during 11.11 or Raya sales
• Often paired with vouchers and cashback
• Payment auto-deducts from ShopeePay, reducing friction
Things to Watch Out For
• Longer tenures incur interest, 0% only for 1-month plans
• Easily overspent during sales events if not careful
• Defaulting may restrict Shopee access or impact your CTOS score
• Requires linking ShopeePay with verified bank or card
4. Split
Split is Malaysia’s only Shariah-compliant, homegrown BNPL provider. Unlike other BNPL options, Split doesn’t charge interest or fees, ever.
It earns revenue through merchants and aims to help Malaysians shop responsibly without incurring debt. Purchases are split into 2 or 3 payments, with the first due upfront.
Split is available online and in-store at participating merchants, covering fashion, health, electronics, and more.
Key Features:
• Interest: None
• Tenure: 2–3 months (first payment upfront)
• Fees: None (ever)
• Credit check: No CTOS or CCRIS check
• Usage: Online + offline (only with partner merchants)
Why Malaysians Like It
• Shariah-compliant, certified by Masyref Advisory
• Zero-interest, zero-fee forever, no surprise charges
• Instant approval, no income proof or bank statements needed
• Available at over 1,000 physical and online stores
• Ideal for budget-conscious and debt-averse users
Things to Watch Out For
• Limited to partner merchants only, no universal checkout
• Cannot delay or extend payments, strict auto-deductions
• No cashback, rewards, or points unlike Grab/Shopee
• Upfront payment required — not truly “zero down”
5. FavePay Later
FavePay Later brings BNPL to your lifestyle, such as salon services, meal deals, and fitness packages. It integrates with the popular Fave app, enabling users to split payments for everyday purchases.
The service rides on the existing Fave ecosystem, combining buys and cashback perks perfectly.
Key Features:
- Interest: None when paid on time
- Tenure: 1–3 months
- Fees: Varies by merchant; Interest-free up to 3 months; cashback perks apply
- Credit check: Soft internal checks
- Usage: Fave app at partner outlets (restaurants, spas, gyms)
Why Malaysians Like It
- Ideal for lifestyle spending like dining and wellness
- Earn Fave cashback even when splitting payments
- No lengthy sign-up, integrated directly in existing app
- Great for impulsive or recurring small purchases
- Encourages spending discipline with short terms
Things to Watch Out For
- Not available at all Fave merchants
- Some merchants may tack on admin fees
- Depends heavily on merchant acceptance
- Best suited for frequent, small-ticket items
6. MobyPay
MobyPay is a BNPL solution focused on higher-value purchases like electronics or fitness equipment.
It offers retail financing in places ranging from appliance showrooms to gyms, allowing payment splits typically over 3, 6, or 12 months.
Key Features:
- Interest: Varies depending on merchant and plan
- Tenure: 2, 3, 6 months (some merchants may extend
- Fees: Dependent on merchant policy
- Credit check: Likely soft internal assessment
- Usage: POS systems at partner retail stores
Why Malaysians Like It
- Great for financing expensive items and services
- Longer-term plans make it feasible to spread out costs
- Smooth checkout for in-store big-ticket spending
- Flexible. Terms vary to meet different budgets
Things to Watch Out For
- Interest rates or fees may not be transparent
- Only works at certain merchants with MobyPay terminals
- Not ideal for low or medium spenders
7. Rely
Rely integrates BNPL into fashion e-commerce platforms such as Zalora and Love, Bonito.
As a checkout option, it often allows purchases to be split over a short term with minimal fees, making it handy for clothing and style-focused shoppers.
Key Features:
- Interest: Generally 0–1.5% per month, depending on terms
- Tenure: Up to 4 months
- Fees: Variable, plan-dependent
- Credit check: Platform’s internal soft check
- Usage: Online fashion e-commerce sites
Why Malaysians Like It
- Seamlessly built into fashion shopping carts
- Short-term plans ideal for seasonal purchases
- Often no fees for first-time or certain campaigns
- Great for limited-time promotions and fashion deals
Things to Watch Out For
- Limited to participating e-commerce retailers
- Charges can add up if mistaken for zero-interest
- Short repayment window may still pressure some budgets
8. Pine Labs
Pine Labs is a powerful merchant-side BNPL enabler that lets retailers integrate zero-interest instalment payments via card terminals. At the checkout, shoppers can convert purchases into instalments supported by partner banks.
The facts
- Interest: 0% via partner bank instalment plans
- Tenure: Bank-specific, varies by product and retailer
- Fees: Embedded within merchant’s processing rates
- Credit check: Based on banking partner rules
- Usage: Store POS and e-commerce via Pine Labs integration
Why Malaysians Like It
- No app needed, just select instalment during checkout
- Familiar card-based process supports trust
- Works across many physical and digital outlets
- Great for premium lifestyle and tech purchases
Things to Watch Out For
- Depends heavily on bank-supported instalment terms
- Merchant pricing might embed higher processing costs
- Not a consumer-first brand, no direct user visibility
9. Akulaku
Akulaku is an Indonesian-based fintech with regional ambitions, offering BNPL and “buy now, pay later” services in various Southeast Asian markets, including parts of Malaysia. It combines BNPL with credit services and financial solutions.
Key Features:
- Interest: Varies based on user profile and plan
- Tenure: Flexible (user-dependent)
- Fees: Not clearly communicated; plan-specific
- Credit check: Credit-based scoring with possible KYC
- Usage: Akulaku app in specific e-commerce settings
Why Malaysians Like It
- Offers BNPL bundled with credit services
- Available across multiple Southeast Asian markets
- Dark horse for users seeking app-based options beyond local services
- Flexible for varied purchase sizes
Things to Watch Out For
- Not widely adopted in Malaysia yet, limited coverage
- Rate transparency can be low, especially for new users
- Credit-based model may exclude some users
10. PayLater (PaySlowSlow – Fatfish Group)
PaySlowSlow is a Malaysian BNPL service from Fatfish Group that lets shoppers pay for products over four interest-free monthly payments. It is processed through partner merchant checkouts and aims to be transparent and easy to use.
The facts
- Interest: None, 0% interest on four-month plans
- Tenure: 4 months
- Fees: No published fees or late penalties (depending on merchant)
- Credit check: Likely internal or soft checks
- Usage: Partner merchant checkouts and online platforms
Why Malaysians Like It
- Made and tailored for the Malaysian market
- Offers zero-interest instalments with no hidden charges
- Simple structure, four easy monthly payments
- Supports local, often smaller, online and in-person retailers
Things to Watch Out For
- Limited adoption, availability only at certain merchants
- No extended tenure options
- Lacks rewards or loyalty integration found in Grab/Shopee ecosystems
Which BNPL Should You Choose?
Not all BNPL services are created equal. Whether you’re a frequent online shopper, big-ticket spender, or just want cashback perks, here’s a quick guide to help you pick the right platform for your needs:
Use Case | Best BNPL Option(s) | Why It Works | Where You Can Use It |
Budget-conscious shoppers | Atome, FavePay Later | No interest, short tenures | Fashion, food, wellness |
Credit card users | Split, Pine Labs | Uses existing card limit, no new debt | Offline retail, electronics |
Fashion-first shoppers | Rely, Atome | Built into Zalora/Love Bonito | E-commerce fashion sites |
Big-ticket spenders | MobyPay, Grab PayLater | Longer tenure (up to 12 months) | Gadgets, gym, travel |
In-store tech buyers | Pine Labs | POS integration with cards | Department stores, electronics |
Local BNPL supporters | Atome | Malaysia-based, simple fixed instalments | Growing number of local merchants |
Cross-border users | Akulaku | SEA-wide presence with hybrid credit+BNPL model | App-based, some Malaysian e-tailers |
Conclusion: Which BNPL Provider Is Right for You?
Buy Now, Pay Later (BNPL) has evolved far beyond online fashion or large installments. From credit card-linked instalments to app-first solutions, Malaysians now have multiple flexible ways to manage short-term spending.
Don’t just look at zero interest, consider late fee policies, tenure flexibility, and where each provider is accepted. Pick the one that matches your lifestyle, not just your purchase.
This guide was put together by Malaysia’s best SEO agency for fintech and digital-first brands. We study consumer behaviour, search intent, and financial trends to create resources that help Malaysians make better decisions online.
If you found this comparison useful, explore our other guides on digital payments, e-wallets, and emerging fintech solutions!
Frequently Asked Questions About BNPL
What is Buy Now Pay Later (BNPL)?
BNPL is a payment method that lets you split your purchases into instalments, often interest-free. You pay a portion upfront and the rest over weeks or months.
Is BNPL available for offline shopping?
Yes. Split, Pine Labs, and some Atome partner merchants support in-store payments in Malaysia
Is there any interest charged?
Most BNPL plans (like Atome, FavePay Later, or Grab PayLater) offer zero interest if you pay on time. Some providers may charge fees for longer tenures or late payments.
Can I use BNPL without a credit card?
Most BNPLs allow debit or credit. Split accepts debit or credit; Pine Labs instalments typically require an eligible credit card.
Does using BNPL affect my credit score?
Generally no, unless the provider reports your payment activity. However, late payments could result in penalties and may affect your credit profile if escalated.
Which BNPL app is best for Shopee purchases?
SPayLater; it offers 1, 3, 6, 12, 18, or 24-month options for eligible users.
