Indonesia's OJK Issues New Regulations for Pay Later Services
Source: TEMPO.CO
Published on: 2025-12-24 14:53
TEMPO.CO, Jakarta - Indonesia's Financial Services Authority (OJK) has officially issued a new regulation regarding "buy now pay later" (BNPL) transactions. The new policy is outlined in Financial Services Authority Regulation Number 32 of 2025 (POJK 32/2025), which came into effect on December 15, 2025. Under the new policy, the OJK emphasizes that pay later services may only be offered by commercial banks, financing companies, or multifinance institutions. "Commercial banks can carry out BNPL transactions in accordance with the laws and regulations for banks, while financing companies must obtain prior approval from OJK to provide BNPL services," said M. Ismail Riyadi, Head of the Financial Literacy, Financial Inclusion and Communication Department at OJK, in an official statement on December 24, 2025. The implementation of the "buy now, pay later" model can be done conventionally or...
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