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).

Some can live a life without credit score. Or they die die want to run from PTPTN loan they adapt to a life without credit score (eg. ah long, leech off family, snatch thief, songlap). Our beautiful country offers many alternatives 
PTPTN defaulters are just immature and don't think about their future, but it is the same demographics of this split payment idea.

I understand the repercussions of defaulting on any credit/loan services. But it's obvious these 'on purpose' defaulters don't.
Judging from our high number of young bankrupts and PTPTN defaulters, seems financial literacy among the Gen Y/Z is still very poor.

What works in another country does not necessarily work here. It needs to be adapted to the local environment to be effective.

And enforcement in Malaysia for anything is just shit, except maybe CCRIS.

Some can live a life without credit score. Or they die die want to run from PTPTN loan they adapt to a life without credit score (eg. ah long, leech off family, snatch thief, songlap). Our beautiful country offers many alternatives 
PTPTN defaulters are just immature and don't think about their future, but it is the same demographics of this split payment idea.

I understand the repercussions of defaulting on any credit/loan services. But it's obvious these 'on purpose' defaulters don't.
Judging from our high number of young bankrupts and PTPTN defaulters, seems financial literacy among the Gen Y/Z is still very poor.

What works in another country does not necessarily work here. It needs to be adapted to the local environment to be effective.

And enforcement in Malaysia for anything is just shit, except maybe CCRIS.

Well said. It is unfortunate trying to live as a law abiding citizens in Malaysia, you would be taken advantage of and have little to no protection against people who are abusing the system.

If this continues, Malaysia would be like another Philippines. No joke. It's really bad here.

whats the bloody diff TS of paying 0% interest for 3 months versus 12 months

normally people pick the longest tenure so their cash can be used elsewhere for investment or other side gigs. use money to make more money

now you reduce lesser tenure so.. they pay more?

what am i missing here

I think it can be great

Sometime u have some ad hoc expenses that come up, ranging from 200-1000, then can split the payment over time. Like car maintenance, ad hoc gifts, repair stuff...

got difference one

stretch ur commitment vs short commitment is different

Reduce lesser tenure, pay same 0% just 3 months quick and easy.

For the bolded part, that is for a proper citizen with financial literacy.

Buy and save the economy

thats the point isnt it? we should teach people to be more financially literate instead of offering weird split payments

credit payment already exist to be an option for consumers. i still dont see diff of split versus the current ongoing 6/12/24/36 months installments 

All of the below statement is personal observation and opinion of TS's and does not reflect the real workings of the world.

As the country grows, perhaps the wealth gap widens if this is not addressed carefully through policy and fiscal stimulus in the market, creating the gap disparity.

On the observation and hypothesis of young HKers, or NYC the young are more focused on themselves, in personal and career aspects.

One will get married but does not wish to conceive a child. Hence, the hard-earned money is used to pay rents, expenses, and self-care/self-improvement/self-wants.

It can be watches, clothes, home improvement, gadgets (let's not go into big houses or cars). These are not huge in purchase prices but slowly buying it will accumulate more commitment to pay them.

There are two options, if you save enough you buy it outright or bill it on the credit card and pay end of the month.

However, there is a third option, remain a young untapped market but a few start-up is doing it.

Split your payment into three months, interest free (yes we know about 12months ezpayment, but this is different).

This 'split your payment' can be used on smaller prices products, eg Nike sneakers RM750

Split 3
RM250 per month x 3

This is definitely more appealing for people to BUY IT outright since payment is only RM250, next month is next month's problem.

Come discuss if this untapped market needs to move faster in Malaysia because AU, EU, US, CHN is moving towards that era. Recently Paypal is offering this service as well to stay relevant in the money transfer industry.

Do you think this is healthy for the young or it is still inevitable that the wealth gap will widen with this form of payment?

In my opinion, this is a great payment option. Not only it offers 0% interest but it also allow debit card usage. Not everyone has a credit card. It would be great if it has 6 month option.

I agree that 12 month is too long, however 3/6 months seems more viable. Plus we only need to pay first month as upfront payment and not having the whole total amount as a limit for the card.

For example: A basic laptop for Rm1k. This translates to Rm333.33 x 3 months or Rm100 x 6 months. Rm100 for 6 months I'd say pretty good and really affordable.

But why? Can always swipe then call bank to arrange for X months

Why need 3 months?

If you are concerned over the impact on your cash flow - get the ezpayment 0% interest

If you dont want to have your future earnings cut - pay outright

If you want to adjust - just call the bank

Senang je, no need susah2 pikir

Its not weird, its the way forward in the future.

Example splitting your book payment from RM1200 to 400 each month sounds about right.

usually, this split payment is offerred on their websites.


the difference is 3 vs 6 vs 12 vs 24 vs 36

and small items like rm1000 need to split 6 months u hailat or 12 months..

Well said. It is unfortunate trying to live as a law abiding citizens in Malaysia, you would be taken advantage of and have little to no protection against people who are abusing the system.

If this continues, Malaysia would be like another Philippines. No joke. It's really bad here.

Additional support in Malaysia's case

Refer to CCRIS in order to allow user registration to use split payment but kind of defeat purpose to allow the mass consumer to spend now pay later.

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.