Shopee's SPayLater Payment Scheme Now Imposes A 1.5% Fee Even If You Pay In Full
The notice officially took effect on 17 October 2022.
If you're an avid online shopper, you've probably heard of the term 'Buy Now, Pay Later'
Essentially, it allows you to buy and receive an item you want first, before eventually paying it off the subsequent month.
Sometimes, e-commerce platforms and banks also let you break it down to instalment payments without the need of owning a credit card, so you have more time to pay it off.
Shopee's version of 'Buy Now, Pay Later' is called SPayLater, and has been around since early 2021
Image via RinggitPlus
Initially, Shopee's SPayLater scheme imposed a 1.25% processing fee per order amount if you opt for the instalment option and 0% if you can pay it in full for the following month.
But they recently announced a big change.As of 17 October 2022, Shopee has announced that all purchases made from SPayLater, whether you pay in full the following month or opt for installment, will be imposed a 1.5% processing fee
Image via Shopee
The notice also states that if you haven't paid your outstanding amount, your account will be temporarily frozen until you do. Additionally, to reactivate your account, you will need to pay a late fee of RM10.
We've reached out to Shopee for an official statement regarding this topic, but they have yet to give a response.
Recently, Shopee Malaysia discontinued its Withdrawal-To-Bank ShopeePay feature:
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