Topic
#paylater by grab
2 articles
Buy Now Pay Later in Malaysia 2026: Why 1.5% Can Mean 12%, and Why BNPL Is Now Regulated
Two of Malaysia's biggest buy now pay later services quote the same headline number, 1.5 per cent, and it means two different things. On PayLater by Grab that 1.5 per cent is charged on each instalment and calculated on the whole transaction, so an eight-instalment plan costs 12 per cent of what you bought. On SPayLater it is 1.5 per cent a month. Both charge a flat RM10 when you miss a payment. SPayLater's page still says BNPL is not regulated by Bank Negara Malaysia, and that line is now badly out of date: the Consumer Credit Act 2025 came into force on 1 March 2026 and BNPL providers must be licensed by the Suruhanjaya Kredit Pengguna. Its Conduct Standards also prohibit the flat-rate pricing that produces the 12 per cent. We read all three providers' pages and the regulator's own instruments on 8 September 2026, and re-checked them on 25 September 2026, the day after Grab rebuilt its pricing table.
Grab's Merdeka Contest Is Over and Winners Are Being Contacted to 30 Oct: Grab's October Deals Instead (PAYLATER1010 RM20 Off, Hot Deals, PayDay 25-31 Oct)
Grab Malaysia's Merdeka contest, Cuba-cuba Lokal Cuti-cuti Lokal, closed on 17 September 2026 and its twenty RM5,000 Malaysia Airlines gift-card winners were due to be announced on 30 September. Under Grab's own terms, potential winners are contacted between 30 September and 30 October and have 72 hours to respond. The code MERDEKA earns nothing now. What is actually live in October, read off Grab's pages on 6 October: the PayLater 10.10 Sale (1-15 Oct, PAYLATER1010 for RM20 off RM200, GP1010 for RM5 off on GrabPay), GrabFood Hot Deals up to RM12 off Wednesday to Sunday, GrabMart Turbocharged Deals up to 40% off in the Klang Valley to 10 October, and PayLater PayDay Deals 25-31 October with PLPAYDAY10.