00:00A reminder before watching the video
00:01There's more content on trending websites.
00:04Buy now, pay later
00:05Buy now, pay later.
00:07It has become a part of people
00:09Payment methods when shopping online or in physical stores
00:12Especially many young people nowadays
00:14Advocating the principle of "buy first, enjoy first"
00:16The money can be paid off in installments.
00:19However...
00:19In the past we thought that...
00:21Buy now, pay later – these are usually higher-priced items.
00:23These high-priced products
00:25Is installment payment necessary?
00:26But...
00:27Our neighbor Thailand
00:28It's actually becoming popular now.
00:30I bought a cup of milk tea and a plate of chicken rice.
00:34Such everyday things
00:35You need to eat and drink first.
00:37Installment payment?
00:38Is it because of financial difficulties?
00:41Can't you even afford a plate of chicken rice and a cup of milk tea?
00:45It's not because you're poor
00:47Rather, it's because in Thailand
00:48Buy now, pay later payment method
00:51It's so convenient and easy to use!
00:53Users can be forgiven for purchases of all sizes.
00:57However, this trend has drawn the attention of the Governor of the Bank of Thailand.
01:01Worries for Thailand
01:02Although buying now and paying later is becoming increasingly convenient and widespread...
01:05However, the cost of a cup of milk tea and a plate of chicken rice...
01:08There is absolutely no need to buy it in installments.
01:11The central bank governor said
01:13When people start borrowing even for small purchases
01:17It is easy to develop
01:18The habit of spending money recklessly when you have no money.
01:21Encourages the practice of forgiving everything.
01:22A gas station owner who has to borrow money for everything
01:24According to the report, it was mentioned
01:26Because of the rapid expansion of the local e-commerce market in Thailand
01:29This has driven the popularization of digital payments.
01:31Especially on today's online shopping platforms
01:34Buy now, pay later button
01:36They have all been seamlessly infiltrated into the checkout page.
01:39Constantly remind consumers
01:41You can actually choose to pay in installments.
01:43For consumers
01:45Should this bill be paid in installments?
01:48Actually, you only need to click a little bit.
01:50It will be very convenient to live like this.
01:52Next is its application requirements.
01:54It's also much lower than a credit card.
01:56Even if you don't have high income proof and credit history
01:59Approval is also easy to obtain.
02:01Direct installment payment
02:03That's not all.
02:04What about the part-time buy-now-pay-later plan?
02:07Interest-free installments of one to three months are also available.
02:10Provide consumers with short-term cash flow flexibility
02:13However, the more convenient the installment payment option, the more natural it should be.
02:18The chance of defaulting on debts and triggering a financial crisis.
02:21It will definitely improve.
02:23That can be seen from the data mentioned in the report.
02:26In fact, Thai household debt
02:28This is equivalent to approximately 87% of the country's GDP.
02:32This ratio is very high for Asian countries.
02:36Moreover, they are all concentrated in consumer spending.
02:38Nearly 40% of Thais
02:41This means that more than 25.5 million people are carrying debt.
02:45Especially local youth aged 20 to 35
02:49It accounts for more than a quarter of non-performing loans.
02:53These heavy debt burdens in the past
02:55Consumption has been suppressed
02:57Hindering the growth and recovery of the local economy
02:59This has resulted in the Thai people lacking the resilience to withstand economic shocks.
03:04Under these circumstances, some people have begun to worry.
03:06The "buy now, pay later" service has become rapidly popular.
03:09This could exacerbate the problem of local people bearing debt.
03:12The governor of the Bank of Thailand estimated that
03:14The number of buy-now-pay-later accounts in the area increased to [number missing] in 2025.
03:196 million
03:21It increased tenfold in just four years.
03:24Despite many plans claiming they use zero interest on short-term installments...
03:28Information to attract customers
03:29However, long-term installment payments can result in annual interest rates as high as 25%.
03:34To avoid excessive leverage among the public
03:37The Bank of Thailand is actively advancing regulation.
03:39Including the implementation of age and income restrictions
03:42Set a minimum spending threshold
03:44And restrict the categories of goods that can be purchased in installments.
03:47The full measures are expected to be announced before the end of the year.
04:00Chinese subtitles provided
