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PRODUCT DISCLOSURE SHEET

Kindly read this Product Disclosure Sheet before you decide to create an e-wallet account with ShopeePay. Be sure to also read ShopeePay’s Terms and Conditions.

What is the product about?

ShopeePay is an e-wallet service offered by ShopeePay Malaysia Sdn. Bhd. that allows users to store monetary value of Ringgit Malaysia (RM) and use it to perform payment transactions with the below functionalities:

(a) top up; 

(b) withdrawal;

(c) fund transfer; 

(d) request fund;

(e) QR payment; and  

(f) payment at checkout.

What are the key terms of this product?/ What are my obligations?

1. You may access and use ShopeePay via the Shopee app or ShopeePay app by downloading it from the Apple App Store or Google Play Store on your mobile device. 

2. Your mobile device must meet the minimum operating system requirements to ensure full functionality of the app.

3. This product does not support devices that have been illegally modified (e.g. jailbroken or rooted devices) or altered in any way.

4. To register for a ShopeePay account, you are required to provide your personal information, including full name, identification type and number, and create a 6-digit PIN. This PIN may be used for verification purposes when accessing ShopeePay features.

5. You must protect your 6-digit PIN and take reasonable precautions to prevent loss, theft, or unauthorized disclosure.

6. You are fully responsible for all activities that occur under your ShopeePay account and you shall immediately notify us of any unauthorised use of your account.

7. If you forget your PIN, you may reset it by entering your identification number or by completing a face verification process.

8. We reserve the right to suspend or terminate your account at our sole discretion if it is found to be offensive, inappropriate, or in breach of our terms of use.

9. Users who registered for a ShopeePay account before 10 February 2025 may only maintain a wallet balance of up to RM2,999 without additional verification.

10. Once an account is set up, you can immediately perform payment transactions. 

11. If you want to upgrade your account limit to store a maximum of RM9,999, you will need to have a verified account by completing our electronic Know-Your-Customer (e-KYC) process as outlined in the ShopeePay platform. 

12. Your ShopeePay transaction limits depend on your account’s verification status. The maximum transaction limits are as follows:

For unverified accounts created before 10 February 2025:

· Daily limit: RM2,999 

· Monthly limit: RM4,999

· Yearly limit: RM59,999

For verified accounts:

·Daily limit: RM9,999 

·Monthly limit: RM20,000 

·Yearly limit: RM120,000

These limits include incoming funds such as top-ups and refunds. For more details, please refer to our Terms of Service and FAQs.

13. You agree that funds in your ShopeePay account can be categorised as transferable and non-transferable and agree to verify the type of balances a top up would be categorised as prior to performing the top up to ensure it suits your intended use (e.g. transfers, payments, withdrawals). ShopeePay shall not be held liable for any limitations associated with the type of balances once funds have been added.

What are the fees and charges I have to pay?

We do not currently impose any fee for topping up accounts or withdrawal of funds from your account to your bank account via online banking. That said, we reserve the right to charge fees for the use of our e-money services in the future and will automatically deduct the relevant fees from your account in such an event.

What are the major risks?

In the event of any of the following:
(a) you have forgotten your username and password;
(b) you have lost your mobile device;
(c) your account has been accessed by a third party; or
(d) you are aware of suspicious transactions made by a third party,

you should notify us immediately after having found that you or your account is exposed to the risks mentioned above by contacting us via the channels listed at the bottom of the page.

To ensure your safety, ShopeePay does not require you to provide any personal information to access details of our product. All product information is disclosed through secure and official digital channels available on Shopee and ShopeePay platform to protect users from risk of phishing, scams, and identity theft.

What do I need to do if there are changes to my contact details?

It is important that you inform us of any change in your contact details to ensure that all correspondences reach you in a timely manner. You may notify us of the changes to your contact details by contacting us via the channels listed at the bottom of the page.

Where can I get further information? 

Please contact us by:

(a) using our feedback function located under settings on the Shopee App;

(b) contact us via the channels listed at the bottom of the page.

Please note: Product Disclosure Statements (PDS) are provided in digital format only. No physical copies will be issued.