Thai Authorities Propose New Regulations for 'Buy Now, Pay Later' Services
The Ministry of Finance and the Bank of Thailand have introduced a draft proposal to regulate 'Buy Now, Pay Later' services, capping credit limits and interest rates.
According to a report by Thai Post, the Thai government is taking steps to address rising household debt associated with 'Buy Now, Pay Later' (BNPL) services. The Ministry of Finance and the Bank of Thailand have jointly proposed new regulatory measures to curb potential financial risks for consumers.
Under the proposed framework, BNPL service providers would be required to limit credit lines to a maximum of 20,000 baht per user. Additionally, the proposal mandates that repayment periods be capped at a maximum of six months, with total interest and fees combined not exceeding 15% per annum.
For residents and long-term visitors in Thailand, these measures are intended to prevent excessive debt accumulation and ensure more sustainable consumer credit practices. While these rules are currently in the proposal stage, they represent a significant shift in how short-term credit is managed in the country.
It is important to note that these regulations are not yet finalized. The authorities have opened a public consultation period to gather feedback on the draft, which will remain active until November 15, 2026. Further details regarding the implementation timeline and specific enforcement mechanisms remain to be confirmed following the conclusion of this feedback process.
