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[SPayLater] What are the terms for payment by SPayLater?
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Eligibility
To utilize SPayLater for payments on Shopee, ensure you meet these conditions:
- A Malaysian citizen
- 18 - 65 years old
- A valid MyKad / MyPR holder / MyTentera
The spending limit is determined by payment history and behaviour, which is visible on the SPayLater page.
If you fulfil the eligibility conditions but cannot pay by SPayLater, contact us via the channels at the bottom of the page.
⚠️Note:
- Your spending limit may be adjusted at Shopee's discretion, depending on your payment behaviour. Pay your bills on time to avoid adjustments.
- There’s a minimum spend for the usage of SPayLater
- RM1 for 1, 3, 6, 12 months instalment tenure
- RM200 for 18 and 24 months instalments (available for selected users only)
- RM1,000 for 36 and 48 months instalments (available for selected users on a campaign basis only)
SPayLater Credit Limit
On SPayLater Homepage
The Available Credit displayed will be the total remaining credit that could be used for your SPayLater transactions after subtracting the utilised limit
The Total Limit displayed is the credit allocated, which does not account for utilisation
- The Additional Limit Boost displayed is the credit allocated for campaigns at selected merchants after subtracting the utilised limit
On My Limit Details Page
Permanent Limit is the credit limit allocated without any time limit
Temporary Limit is the temporary credit limit allocated to eligible users for a specific time only. The limit expires after the specified expiry date. When using SPayLater, your temporary limit will be applied first. Upon full utilisation of the temporary limit, the permanent limit will then be applied.
- Additional Limit Boost is a special limit provided for a specific, time-limited campaign. It can only be used to check out with certain merchants that are eligible under the campaign. Click on the tooltip button to find out more about the campaign. Please note that the campaign limit is exclusively available to eligible users.
- Temporary Checkout Limit is the temporary credit limit provided to eligible users during selected checkouts only. When the total available limit is lower than the remaining checkout amount, a temporary checkout limit may be granted for users to continue checkout with SPayLater.
SPayLater Billing Cycle
Automatically assigned billing cycles upon activation:
- Billing Date: 1st of the month
- Due Date: 10th of the month
- Billing Date: 11th of the month
- Due Date: 20th of the month
- Billing Date: 21st of the month
- Due Date: 1st of next month
Option 4
Billing Date: 25th of the month
Due Date: 5th of next month
Payment Plans
- Profit rate depend on your preferred payment plan
- The 12-month, 18-month, and 24-month payment plan options are available to eligible users only.
- The 36-month and 48-month payment plan options are available to eligible users for selected campaigns only.
Payment plan | Profit Rate | Late Fees |
1-month | 0% per month on total payment/order amount starting from 18 January 2024 | Your SPayLater account will be temporarily frozen until the outstanding amount has been paid. To reactivate the account, users will be charged a late fee of RM10 or the bill principal, whichever is lower.
|
3-month instalment | 1.5% per month on the total payment/order amount
| |
6-month instalment | ||
12-month instalment | ||
18-month instalment | ||
24-month instalment | ||
36-month instalment | ||
48-month instalment |
⚠️Note:
- Late payments may result in restrictions like limited voucher usage and restricted app functions.
- The 3-month instalment plan has a 0% profit rate charge for Shopee platform checkouts (excluding ShopeeFood, insurance and Prepaids, Bill & Tickets). You can see 0% profit rate charge at the checkout payment option page.
Returns/Refunds
If you request a return/refund for products paid by SPayLater, these terms apply:
- Once your refund is successfully processed, your credit limit will be restored within 24 hours.
- For partial refund on orders from one seller only, you may select the product that requires a refund.
- For partial refund on orders with products from more than one seller, you may select the product from the order that requires a refund.