BNPL

Buy-now-pay-later players need a lower cost of capital and access to data to improve their credit underwriting

The deal could ultimately value the target at up to US$4.5 billion

The central bank chief estimates the number of BNPL accounts climbed to about six million in 2025

The new credit line will also be used to expand its Pay Later Anywhere card in Singapore, Malaysia and the Philippines

Interest rates on loans for consumer durables from traditional lenders typically range between 12% and 22%

Indonesia, Malaysia and Thailand have been tightening regulation and warning consumers about the cost and risk of BNPL loans

As traditional credit markets in the US and Europe falter, private credit investors are turning their attention to emerging markets, drawn by the promise of stronger growth and higher returns

The company has partnered with major global brands, including cosmetics retailer Sephora, sporting goods giant Nike, and rental booking platform Airbnb

CONSUMER lending has become one of the most dynamic segments in private markets, evolving rapidly alongside advancements in technology and shifts in consumer behaviour. With a market size of US$27 trillion and growing, consumer lending offers investors a diverse array of opportunities, from traditional mortgage-backed securities to emerging products like buy now, pay later (BNPL) loans.