Thailand Seeks Feedback on Buy Now, Pay Later Rules
Thailand’s Finance Ministry and the Bank of Thailand are consulting the public on proposed rules for Buy Now, Pay Later services, which would limit loans to 20,000 baht, cap repayment at six months, and set an interest ceiling of 15 percent per year. The measures aim to curb household debt and protect digital‑finance users by requiring clear disclosure and affordability checks. Comments are being accepted until November 15, 2026.
The Finance Ministry and the Bank of Thailand have opened a public consultation running from October 16 to November 15, 2026, on draft regulations for Buy Now, Pay Later (BNPL) lending. The goal is to prevent excessive debt and ensure fair treatment for consumers. The proposal sets a minimum user age of 20, caps the loan amount at 20,000 baht per transaction, limits installment periods to six months, and caps the total cost of credit—including interest and fees—at 15 percent per year, calculated as the effective annual rate. It also requires providers to assess borrowers’ ability to repay, disclose interest, fees, and repayment schedules clearly, separate the decision to purchase a product from the loan application, and establish appropriate and fair debt‑collection practices to avoid the convenience of digital installment plans leading to accumulated debt.
Lalida Perisriwatthana emphasized that even small installment amounts can become burdensome when multiple purchases are made simultaneously, underscoring the need for transparency and long‑term household‑debt prevention. She noted that the draft is still open for comment and will not take effect until after the consultation period ends. Members of the public and businesses can submit their views via the Bank of Thailand’s website at www.bot.or.th or through the central legal system portal before the November 15 deadline.
