Ryt Bank has rolled out PayLater on its card, giving users another way to manage everyday spending across more payment channels.
The update extends the feature beyond DuitNow QR to card payments, allowing users to use PayLater for online purchases, in-store transactions and QR payments.
The service now works across DuitNow QR and Visa payment networks.
Ryt Bank said the update gives customers a single PayLater option across more payment scenarios, rather than limiting use to selected merchants or platforms.
Eligible users can access up to RM1,499 in instant credit through Ryt PayLater.
Users can avoid interest charges if they clear the balance within the first statement cycle.
As part of the rollout, new users will receive 1.2% cashback on qualifying Ryt PayLater transactions.
Physical Ryt Card users can also get RM12 cashback when they make five transactions of at least RM20 each, which the bank said effectively reimburses the card fee.
Wilson Soon, Interim CEO of Ryt Bank, said,
“Financial flexibility should be simple and effortless.
By enabling Ryt PayLater on Ryt Card, we’re giving customers more ways to pay smarter and manage their spending with greater control, whether they choose to pay immediately or spread their payments over time.”
Users can manage their spending, track payments and access rewards through the Ryt Bank app.
The bank also previewed Ryt Invest, an upcoming wealth product that will be integrated into the app.
Featured image source: Ryt Bank
