You’re about to check out on Shopee. The total of your purchase hits S$1200. Do you hit “Pay” or split it over three months with SPayLater at zero interest?
If you’ve ever hesitated at that moment, wondering whether Buy-Now-Pay-Later (BNPL) is the smarter move, you’re not alone.
In 2025, BNPL has become second nature in Singapore, with up to 77% of Gen Zs using BNPL here. It’s changing how people shop, regardless of whether it’s at online checkouts or in-store. To top it off, the BNPL growth is expected to hit US$1.94 billion by the end of this decade.
But each BNPL plan comes with its own quirks: different repayment terms, fees, and even how its rewards plan works. Are you sure the one you’re going for is accredited by the Singapore Fintech Association, too?
Before you commit to that 3-month repayment plan, take a moment to compare your options and choose the BNPL provider that offers the best value for your purchase.
Last updated: 7 January 2026
What is BNPL or Buy-Now-Pay-Later?
Buy Now, Pay Later (BNPL) is a flexible payment option that allows consumers to split the cost of a purchase into smaller, interest-free instalments without using a credit card.
BNPL services like Atome, PayLater by Grab, and SPayLater by Shopee are widely accepted across online and physical stores in Singapore, making it a popular alternative for managing short-term spending.
BNPL in Singapore falls under a voluntary code of conduct developed by the Singapore Fintech Association, with accredited providers receiving the BNPL compliance trustmark to ensure consumer protection, responsible lending, and transparent fees.
A Snapshot of BNPLs in Singapore
Top BNPLs in Singapore in 2026
Atome
Atome is one of Singapore’s leading BNPL platforms, offering a myriad of flexible payment options across categories such as lifestyle, beauty, travel, electronics, and more.
It is part of Singapore’s Advance Intelligence Group, which is an AI-first financial and data platform operating across Southeast Asia. In a move to support underserved markets, the group recently obtained US$75 million via an asset-backed facility from Lending Ark, with the purpose of improving financial inclusion in the Philippines.
Atome offers Pay-in-3 with interest-free repayments, and Pay-in-6, which has a one-off processing fee of up to 3% of the purchase’s total value.
Next, it also offers Pay-in-9 and Pay-in-12, which come with a monthly processing fee of 0.75% per month, based on the total purchase value.
Atome accepts payments from most credit and debit cards from a financial institution, as well as Apple Pay and PayNow.
PayLater by Grab
Grab’s PayLater gives users the flexibility to split their purchases into 4, 8, or 12 monthly instalments, or simply defer full payment to the following month. Regardless of the option selected, users continue to earn GrabRewards points, which are redeemable for benefits like discounted Grab rides, free food deliveries, and other partner perks.
The platform also offers personalised PayLater limits based on an individual’s spending behaviour. Grab also frequently promotes exclusive deals with merchant partners, enhancing its appeal as a go-to BNPL option.
By integrating payments, rewards, and daily services into a single ecosystem, PayLater by Grab stands out if you’re looking to streamline spending while maximising everyday rewards.
SPayLater by Shopee
SPayLater is Shopee’s BNPL offering designed to help users manage their spending more effectively, both on the Shopee app and at participating ShopeePay in-store merchants.
Users can choose to repay their purchases over 1, 3, 6, or 12 months, with instalments starting only after the order has been delivered. To activate SPayLater at checkout, you must have at least one valid payment card linked to your Shopee account.
By combining flexible repayment options with Shopee’s vast ecosystem, SPayLater caters to shoppers who value convenience, control, and ease in managing their purchases.
How to Use BNPL in Singapore
Using BNPL is a fairly straightforward process. You’ll have to pick your product or service and BNPL provider, and you’re set. Here’s how it works:
#1 Shop like you usually do
Add items to your cart at an online retailer or shop in-store at participating outlets.
#2 Choose your BNPL provider at checkout
Popular options include Atome, PayLater, and SPayLater.
#3 Sign up or log in
First-time users will need to register with their basic details. Some providers may have a soft credit or identity check before approval.
#4 Make the first payment
Usually, the first payment is done upfront, but this can vary as it depends on the BNPL provider’s plan type.
#5 Enjoy now, pay responsibly later
The rest of the instalments are deducted monthly from your linked card or account. No extra steps or extra interest, that is, unless you miss a payment or opt for a different plan.
What’s Next for BNPL in Singapore?
In a February 2025 parliamentary session, Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS, reaffirmed that the BNPL Code of Conduct sets the standards to reduce risks and protect users. An independent oversight committee of qualified members will investigate suspected Code breaches by accredited BNPL providers.
Meanwhile, traditional financial institutions are expected to enter the BNPL space soon. Visa and Standard Chartered have partnered to launch the Visa Instalment Solution in Singapore later this year, following its rollout in Malaysia.
This integration with existing credit infrastructure could shift the BNPL market dynamic, especially among higher-income consumers who prefer established banking channels.
With a well-developed financial system and easy access to traditional credit, future growth will likely depend on stronger safeguards, smarter partnerships, and wider adoption in physical retail environments.
Frequently Asked Questions (FAQ)
Is BNPL regulated in Singapore?
BNPL is self-regulated under the BNPL Code of Conduct, and BNPL providers are expected to go through an audit by an independent expert assessor to qualify for an accreditation. After this is done, they can display an accredited trustmark, showcasing that their business is compliant with the code for three years.
What’s the maximum limit for BNPLs in Singapore?
Based on Singapore’s code of conduct, the limit is capped at S$2000 per BNPL provider, after which an additional credit assessment must be passed to obtain a higher limit.
How many BNPL providers in Singapore have the BNPL Compliance Trustmark?
As of the time of writing, four providers are accredited with Singapore’s BNPL Compliance trustmark, which are ABNK, Atome, Grab, and Singapore SPayLater. These four providers are accredited until 30 April 2027.
Featured image: Edited by Fintech News Singapore, based on images by thanyakij-12 on Freepik and tawatchai07 on Freepik