As teased before, Ryt Bank finally announced a major upgrade to its payment ecosystem, enabling customers to use Ryt PayLater directly through the Ryt Card for both local and global transactions. The move extends PayLater functionality beyond QR payments, giving users the flexibility to choose between paying immediately or spreading payments over time across more scenarios.
PayLater Now Works Across QR and Visa Networks
Previously limited to DuitNow QR, Ryt PayLater can now be used across both QR and card payments. This includes in-store QR scans, online purchases, and physical card transactions at payment terminals. By combining Malaysia’s DuitNow QR network with Visa’s global acceptance, the feature can now be used at over 150 million merchants worldwide, significantly expanding its usability for everyday spending.
Unlike traditional Buy Now Pay Later services that are often restricted to specific merchants or platforms, Ryt PayLater on Card offers a more unified experience. Users can access PayLater across multiple payment methods without switching platforms, making it easier to manage spending consistently whether shopping online or offline.
Cashback Rewards for Early Users
To mark the launch, new users can enjoy 1.2% cashback on eligible Ryt PayLater transactions. Physical Ryt Card users can also receive RM12 cashback when they complete five transactions with a minimum spend of RM20 each, effectively offsetting the cost of the card.
Ryt PayLater provides eligible users with instant credit of up to RM1499, allowing for more flexible short-term spending. Users can benefit from 0% interest if the balance is fully paid within the first statement cycle, offering a simple and low-risk way to try the feature.
Ryt Invest Teased as Next Feature
Looking ahead, Ryt Bank has also revealed plans for a new feature called Ryt Invest. The upcoming service will be integrated into the app, allowing users to start investing alongside their everyday banking activities, further expanding the platform’s financial ecosystem. Until then, stay tuned for more trending tech news at TechNave.com.
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