good if it improves productivity, can be used to make money or QoL
else just save up money

anyway OCBC got this credit card can do this also la
https://www.ocbc.com.my/personal-banking/ca...mastercard.html

Your basically referring to something like Afterpay right?

Dont banks offer this for purchases thru lazada and shopee?

Great idea but we might end up becoming like south korea lol

done


definitely improve qol since affordability + stretched payments but unsure if its sustainable to themselves.

if not sustainable to users, then slowly payment fails and etc etc


OCBC is known for their fintech speed also

however u need to apply ocbc cc for this.. im refering to company products like AfterPay and Splitit

Also if you do OCBC screencap u shared... spending 2000 u need to pay 183 per month already lulz. and lock u for 12 months.

Kampung traders has been doing this for centuries. Back from where I came from, it was called "bayar kali". My mom sold baju kurung RM180 per pair, bayar 6 kali, RM30 a month. But then a lot of people only bayar satu kali and disappeared

Yes correct, thats why my long-winded opinion and observation.

Afterpay, Splitit, yesterday was paying through PayPal and notice they are also offering it already, kiasu also wanna come in this industry.. since Paypal has their number of user..

These Afterpay, splitit, klarna, etc etc is still new

I think this could be a win-win for both consumer and vendors.

1. Split payment over short term, increase personal monthly cash flow.
Can greatly help for cash strap people who are in need to purchase high ticket items but are unable to make full payment during checkout.

2. Vendor are able to clear their stock quickly at 1/3, 1/6, 1/12 (depending on the repayment period) of the cost, and assuming the buyers are good paymasters.

I'm guessing you're venturing into this? PM tepi jap.

No, not venturing into this.

I saw some small start up in Malaysia already doing this.. its not a wow idea, but you understand point 1 and 2 correctly.

I got one more in my head... https://www.ey.com/en_my/banking-capital-ma...anking-services sunbearau

How if buyer only pay 1 time then cabut after that?

Any different from PTPTN repayment issues?

Good idea, but we can't have good things because of Malaysian attitudes. They will see it as 67% discount.

For example in UK its relatively simple.

I input my name, address, phone no.

There was once I missed the second month payment and delayed it for a week. My debit card showed - £67

Syukur no letter, then paid the amount but the third month remains the same. I believe if any longer delay for a month, the computer auto-generate LOD to be sent to your house?

always opt for interest free instalment

Does delayed payment allows you to build bigger savings?

no. purely for credit scores.

any cash deferment option is good for cash flow
more so with 0% fee/charges

This post has been edited by Zaire.Ver: Jan 13 2021, 03:17 PM

it will also help you to start a business with minimal amount. back then I use ikea IPP 12 months 0 interest to furnish my airbnb condos. managed to reduce the initial capital needed to setup a new bnb by 80%

This post has been edited by SiewLee30: Jan 13 2021, 03:19 PM

Agree

If direct debit, then cannot run. Good way around issue of buyer not paying up.

But enforcement is very weak here. If direct debit not allowed, habis la.

https://paywithsplit.co/split-for-business/

already few company and ecommerces websites using this split payment method. can even work using debit card, which is neat

paywithsplit is one the example i've seen local websites using

It's all down to how good are the enforcement are in Malaysia.

PTPTN managed to blacklist PTPTN borrowers on a no-fly-list preventing them from flying out of Malaysia unless they've paid up the amount they've owed.
It's bad for those who need to work+travel frequently.

However for those who are permanently based in Malaysia, being a bad PTPTN paymaster will severely affect their credit score and thus comes to my point below..

Like similar credit facilities offered by financial institution, being a bad paymaster will affect your credit score and until the point where the buyer can be blacklisted in CCRIS. Thus the buyer won't be able to request/receive any financial services/loans/card applications from any legal financial institution in Malaysia. Ah long/Father-Mother/Family/Crowd-funding is a different story.

Until now I've yet to see a proper enforcement towards PTPTN borrowers, the best course of action is mandatory salary deduction (instead of voluntarily).

He needs to scale up faster if he wants to remain relevant.

This pay with split is for some time already.