661 views

SFA forms buy now, pay later working group to develop framework

The working group is calling out to organisations offering BNPL services to join their ranks.

The Singapore FinTech Association (SFA) has formed the Buy Now, Pay Later Working Group (BNPL WG) to develop a BNPL framework for Singapore, under the guidance of the Monetary Authority of Singapore.

The BNPL framework will mitigate risks of consumer over-indebtedness and ensure that BNPL offerings have “a positive impact on Singapore consumers as well as continue to benefit the system,” according to a press release.

BNPL WG aims to launch the framework in the second half of the year.

Members of the working group include Atome, Grab, and hoolah. Other industry players such as Ablr, Fave, Latitude Pay, Pace, Rely, Split, and Zip will also participate.

The BNPL WG is also calling out from now to 8 April 2022 to other organisations currently offering BNPL services or are planning to do so, to bolster its ranks further and participate in the development of the BNPL Framework. 

Follow the links for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!