1. What is SPayLater?
SPayLater is a “Buy Now, Pay Later” (BNPL) service powered by SeaMoney Capital Malaysia Sdn. Bhd. (“Monee"), The financial services affiliate of Shopee. With SPayLater, users can purchase goods and services with an option to defer the full payment to next month (1-month payment option) or make payments over 3 to 24-month instalment plans. SPayLater offers users a convenient financial solution, enabling them to enjoy payment flexibility through a user-friendly digital platform.
2. How does SPayLater benefit my business?
SPayLater enables customers to better finance larger purchases and afford a wider range of products and services by planning out their future payments. Merchants who offer SPayLater also experience higher retention rates among their buyers, attracting new and repeat customers. Tapping into SPayLater, merchants are exposed to a wider audience that consistently and responsibly utilises the payment service.
Through dedicated SPayLater marketing platforms and exposure across the Shopee app, SPayLater-activated merchants are offered wider visibility. Leveraging the healthy SPayLater user base, merchants can be featured and exposed to potentially millions of new buyers.
3. Is SPayLater available for all merchants?
No, SPayLater is currently available to selected merchants only. Merchant’s eligibility is subject to Monee’s evaluation criteria and risk assessment.
4. When will I receive the payment for a SPayLater transaction?
Merchants will receive the sales payment in full (after deduction of MDR or transaction fees) regardless of the tenure selected by the buyer.
5. Who bears the credit or default risk?
Monee bears the credit or default risk of the buyer. Merchants will receive the full payment for goods or services sold regardless of whether the buyer completes their instalments.
6. Do I need to set up anything special to accept SPayLater?
No additional hardware is required. However, you must be enabled either via:
- Shopee platform, or
- ShopeePay (for terminals / online merchants via TPA - Third Party Acquirers)
7. Is there an additional MDR or fee for SPayLater transactions?
No additional charges will be applied to the MDR. The MDR charge is the same as the ShopeePay MDR.
8. Is there any hidden fee for merchants?
No. All applicable fees to merchants are transparently communicated during onboarding or contract signing.
9. How do customers use SPayLater at my store or website?
Customers can use SPayLater at your store or website by scanning DuitNow QR or ShopeePay QR to make payments with SPayLater. For more information about offline payment methods, please visit this link. 10. Can customers use SPayLater for any amount?
No, there is a minimum spending requirement for SPayLater transactions as follows:
- RM1 for 1, 3, 6, 12 months instalments
- RM100 for 18 and 24 months instalments (only available for selected users)
Meanwhile, the maximum amount for SPayLater would depend on the customer’s available SPayLater limit.
SPayLater is a service provided by SeaMoney Capital Malaysia Sdn Bhd.