Thai Enquirer
BoT Plans BNPL Crackdown as User Numbers Surge and Debt Concerns Mount
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The Bank of Thailand (BoT) is preparing to introduce regulations for Buy Now Pay Later (BNPL) lending by the end of 2026, citing concerns that the fast-growing sector could worsen household debt and encourage excessive borrowing among young consumers
Key facts
- Data collected from six to eight major providers showed outstanding BNPL loans reached 17.9 billion baht in 2024, up 38% from a year earlier
- The number of BNPL accounts surged from around 620,000 in 2021 to 4.91 million in 2024, representing average annual growth of nearly 100%
- Speaking at a media briefing on June 2, BoT Governor Vitai Ratanakorn said the central bank is studying measures including minimum age requirements, restrictions on eligible products, minimum transaction values, interest-rate caps,
- Thailand’s household debt remained elevated at 16.44 trillion baht, or 86.7% of GDP, at the end of 2025
- Separate debt data show that 52.7% of Thais aged 20-35 are already in debt, with first-jobbers recording the highest bad-debt ratio of any age group at 27%.
- The central bank said such practices risk encouraging unnecessary borrowing at relatively high interest rates, often ranging between 16% and 18%.
Summary
Speaking at a media briefing on June 2, BoT Governor Vitai Ratanakorn said the central bank is studying measures including minimum age requirements, restrictions on eligible products, minimum transaction values, interest-rate caps, repayment-capacity assessments and limits on automatic credit approvals. The framework is expected to be finalized around October-November before taking effect by year-end.
The move comes as BNPL usage continues to expand rapidly. Data collected from six to eight major providers showed outstanding BNPL loans reached 17.9 billion baht in 2024, up 38% from a year earlier. The number of BNPL accounts surged from around 620,000 in 2021 to 4.91 million in 2024, representing average annual growth of nearly 100%.