As previously promised, Ryt Bank has officially introduced support for Ryt PayLater directly on its Ryt Card. The update allows users to choose between paying immediately or deferring payments, extending PayLater functionality beyond its existing DuitNow QR implementation.
With this enhancement, Ryt PayLater now works across both DuitNow QR and the Visa network. This means users can access PayLater whether they are scanning QR codes in-store, making online purchases, or paying via card terminals at physical retail locations.
By combining nationwide DuitNow QR acceptance with Visa’s global network of over 150 million merchants, the service extends beyond the typical limitations of Buy Now, Pay Later platforms. According to the digital bank, most competing offerings remain restricted to selected merchants or ecosystems, whereas Ryt PayLater on Card aims to deliver a more consistent experience across different payment scenarios.
Up To RM1,499 Credit With 0% Interest Window
In a statement, Ryt Bank interim CEO Wilson Soon said the goal is to simplify financial flexibility by giving users more control over how they manage their spending. The PayLater feature provides eligible users with up to RM1,499 in instant credit for short-term use.
Users can also benefit from 0% interest if they clear their balance within the first statement cycle. This allows them to test the feature without incurring additional costs, while still retaining the option to spread payments if needed.
Cashback Incentives For New And Existing Users
To support the rollout, Ryt Bank is offering 1.2% cashback for new users on eligible Ryt PayLater transactions. This provides a small incentive for users to try the feature across supported payment methods.
In addition, physical Ryt Card users can receive RM12 cashback after completing five transactions with a minimum spend of RM20 per transaction. The bank notes that this effectively reimburses the card fee, making it easier for users to adopt the physical card.
Ryt Invest Coming Soon
As you may recall, the digital bank also announced Ryt Invest, an upcoming wealth product that will be built into the app. While no mention of its release just yet, Ryt Bank continues to tease the feature, revealing that it will offer a simplified way for users to start investing, complementing existing spending and payment tools within the platform.
(Source: Ryt Bank press release / official website)
