Introduction

On 5 December 2025, the Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued OJK Regulation No. 32 of 2025 on the Implementation of Buy Now Pay Later (“OJK Reg 32/2025”), which entered into force on 15 December 2025.

This regulation establishes a comprehensive legal framework governing Buy Now Pay Later (“BNPL”) services in Indonesia. Its issuance reflects OJK’s response to the growth of digital financing technology, and the need for a regulation to ensure the implementation of BNPL in the financial services sector is conducted with due regard to prudential, consumer protection, and good governance principals. 

Conclusion

OJK Reg 32/2025 marks a significant development in Indonesia’s digital financing regulation. By clearly embedding BNPL as a regulated product, OJK has reinforced oversight, improved transparency standards, and enhanced consumer protection safeguards.

For Commercial Banks, Financing Companies, and digital platform partners, this regulation signals a more structured regulatory environment. Timely compliance alignment and strategic reassessment of BNPL frameworks will be essential to ensure continued operation within Indonesia’s evolving financial regulatory framework.

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