Thailand Proposes New Regulations for 'Buy Now, Pay Later' Services
The Ministry of Finance and the Bank of Thailand are seeking public feedback on proposed rules to regulate 'Buy Now, Pay Later' credit services to curb household debt.
The Thai Ministry of Finance, in collaboration with the Bank of Thailand, has initiated a public consultation period regarding new regulatory guidelines for 'Buy Now, Pay Later' (BNPL) services. According to Khaosod Online, this move is part of a broader government effort to address rising household debt and enhance consumer protection in the digital financial sector.
The proposed regulations, which are open for public comment until November 15, 2026, include several key restrictions. Under the draft, BNPL providers would be required to limit credit lines to a maximum of 20,000 baht per user. Additionally, the repayment period for individual transactions would be capped at six months, and the total interest rate, including associated fees, would be restricted to a maximum of 15% per year, calculated as an effective rate. Eligibility for these services would be limited to individuals aged 20 and older.
For residents and expatriates in Thailand, these changes may impact how digital purchases are financed. While the proposal aims to prevent excessive debt accumulation, it remains to be seen how these caps will affect the availability of BNPL services from various retailers and fintech platforms. The final implementation of these rules depends on the feedback received during the consultation period and subsequent official announcements from the authorities.
