Shopee Now Charging 1.5% Processing Fee On SPayLater Option
Looks like your expenditures might see a notable increase as Shopee is now charging a 1.5% processing fee for their SPayLater option.
New Processing Free for Shopee’s SPayLater
In the Shopee Malaysia Help Centre page, anyone who uses the SPayLater BNPL (Buy Now Pay Later) option will be subjected to an additional 1.5% processing fee on the total payment for your purchase. This is similar to the processing fee that has been implemented in the SPayLater installment option earlier in July.
As for the reasoning behind the move, nothing has been officially mentioned but it’s interesting to note that the move happened around the same time as the service being certified as Shariah-compliant. In case you weren’t aware, Shopee will not charge a 1.5% late fee but instead, they will freeze the user’s account instead. In order to unfreeze it, users will have to pay RM10, and this also applies to the BNPL option on top of the new 1.5% processing fee.
If you’ve never tried the option before, SPayLater can be activated via the Shopee app on your smartphone. In order to be eligible for it, you will have to be a Malaysian citizen who is at least 18 years of age with a valid MyKad or MyPR identification. Users can make payments via online transfer, credit card, debit card, cash payments at 7-Eleven, and via ShopeePay wallet.
Pokdepinion: As time goes by, it sure does seem like the amount of things we have to pay for are only going up. If only my salary goes up accordingly as well.
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