Ryt Bank has expanded its Ryt PayLater feature to work directly on the Ryt Card, allowing customers to choose between paying now or later across a wider range of transactions. The update extends Ryt PayLater beyond DuitNow QR to card payments on Visa’s network, covering in-store terminals, online purchases, and QR payments in a single feature.
What Has Changed
Previously, Ryt PayLater was limited to DuitNow QR transactions. The expansion to the Ryt Card means customers can now use PayLater across both QR and Visa payment networks, giving access to over 150 million merchants globally. Ryt Bank says this positions it among the first in Malaysia to offer a PayLater experience integrated directly with a debit card at this scale.
The distinction from most Buy Now, Pay Later services in Malaysia is that Ryt PayLater is not limited to specific merchants or platforms. It works wherever the Ryt Card or DuitNow QR is accepted.
How Ryt PayLater Works
Eligible customers receive up to RM1,499 in instant credit, and can avoid interest charges entirely by clearing the balance within the first statement cycle. Spending, payment tracking, and rewards can all be managed through the Ryt Bank app.
Wilson Soon, Interim Chief Executive Officer of Ryt Bank, said the intent behind the feature is to give customers more ways to manage their spending with greater control, whether they choose to pay immediately or spread payments over time.
Launch Promotions
New customers who activate Ryt PayLater will receive 1.2% cashback on qualifying transactions. Physical Ryt Card customers can also earn RM12 cashback by making 5 transactions with a minimum spend of RM20 per transaction, effectively covering the cost of the card fee.
Ryt Invest Is Coming
Ryt Bank also teased the upcoming launch of Ryt Invest, a wealth product that will be integrated within the Ryt Bank app. Details remain limited, but the bank describes it as a way for customers to start investing while staying in control of their finances, in line with its broader focus on spending, payments, and wealth management within a single platform.
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