Hi, how can we help?

Type of Fees

Definition

When is this being charged?

How Much?

Processing Fee

This refers to the fee charged for the provision of the SPayLater services and is interchangeable with the Instalment Rate, as referred to in our Terms of Service.

Processing Fee is charged in the monthly installment amount.

Processing Fees are based on the payment plan chosen and the transaction amount: 

· 1 Month - No charge

· 3 Months* - 1.5% per month / 4.5%

· 6 Months - 1.5% per month / 9%

· 12 Months - 1.5% per month / 18%

· 18 Months - 1.5% per month / 27%

· 24 Months - 1.5% per month / 36%

*For 3 months, no processing fee for Shopee marketplace platform checkouts you can see 0% processing fees on the checkout payment options page. 

However, 3-month processing fees still apply to ShopeeFood, Insurance, Prepaid services, Bills & Tickets, and payments made outside the Shopee app (both in-store and online).

Late Charge

Refers to the penalty charged if a user doesn’t pay their SPayLater bill by the due date. SeaMoney will freeze the user’s SPayLater account if payments are late.

Late Charge is incurred when users do not pay the SPayLater bill after the due date.

RM10 or principal bill, whichever is lower.

· If the principal bill exceeds RM10, the late charge will be RM10

· If the principal bill is below RM10, a late charge will match the principal bill

Payment Plan

1 Month

3 Month

6 Month

12 Month

18 Month

24 Month

Monthly Processing Fee 

No Charge

1.5%

1.5%

1.5%

1.5%

1.5%

Total Processing Fee

No Charge

1.5% * 3M
= 4.5%

1.5% * 6M
= 9%

1.5% * 12M
= 18%

1.5% *18M
= 27%

1.5% * 24M
= 36%

Example of transaction amount = RM100

Total Processing Fee

No Charge

RM100 * 4.5%
= RM4.50

RM100 * 9%
= RM9.00

1.5% * 18%
= RM18.00

RM100 * 27%
= RM27.00

RM100 * 36%
= RM36.00

Total Price Paid
(Transaction Amount + Processing Fee)

RM100+ 0
= RM100.00

RM100+ 4.50
= RM104.50

RM100+ 9
= RM109.00

RM100+ 18
= RM118.00

RM100+ 27
= RM127.00

RM100+ 36
= RM136.00

Installment per Month

RM100.00/1M
= RM100

RM104.50/3M
= RM34.83

RM109.00/6M
= RM18.16

RM118.00/12M
= RM9.83

RM127.00/18M
= RM7.06

RM136.00/24M
= RM5.67

Scenario

Principal Amount

Late Charge

Order below RM10

Principal Amount for first Instalment = RM9

Late Charge = RM9

Since this amount is less than RM10, the late charge is RM9

Order exceeds RM10

Principal Amount for first Instalment = RM11

Late Charge = RM10

Since this amount exceeded RM10, the late charge is RM10