LaNyalla Remembers Paylater Danger: Like A More Modern Moneylender

Illustration. (Photo: Doc. Antara)

JAKARTA - In this digital era, online shopping has been made easier by various e-commerce or digital platforms with the emergence of payment systems with paylaters. Paylater features provide a 'Buy Now Pay Later' (BNPL) offer with a faster and easier process.

Behind the various existing facilities, Chairman of the DPD RI AA LaNyalla Mahmud Mattalitti reminded the public to remain vigilant with the rise of paylaters. He analogizes paylaters like moneylenders with a more modern face which makes people easily entangled in debt.

"Paylaters are the same as moneylenders. They also use deception so people owe them. Moreover, this paylater offers easier and faster transactions than banking," said LaNyalla, Tuesday, November 14.

According to LaNyalla, the ease of accessing loans makes paylater users go too far until they end up stuck in arrears. The public must also realize that even though the administration is easy, the interest rate of the paylater is relatively high.

"This paylater transaction can present new financial problems. Moreover, this feature also coincides with high interest rates. This is what the public must realize," he explained.

In addition, the lack of financial literacy increasingly makes people confused by economic difficulties and then financial blunders occur.

"This financial blunder is what we are very worried about. On one party, they are already in debt, then to pay off their loans they owe again from other parties," he said.

Meanwhile, the Senator from East Java continued, the government itself has not yet made regulations regarding this paylater financing method. For this reason, he hopes that the government will immediately make a binding policy so that people do not become victims.

"In my opinion, the existence of this paylater has a huge potential danger to financial health. That's why there needs to be proper regulations from the OJK. In addition, strict supervision is also to minimize its negative potential," he said.