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[ShopeePay] Money+ General
Money+ is a new ShopeePay feature, launched and developed by ShopeePay Malaysia Sdn. Bhd. (“ShopeePay”) in partnership with iFAST Capital Sdn. Bhd. (“iFAST”), wherein the balance in your Money+ account will be invested to earn potential returns. Money+ is available on both the Shopee and ShopeePay apps.
The balance in the Money+ account will be invested into the Eastspring Investments Islamic E-Duit Fund, a Shariah-compliant money market fund managed by Eastspring Investments Berhad (“Eastspring Malaysia”) and distributed by iFAST. ShopeePay serves as a platform that enables customers to invest in the Eastspring Investments Islamic E-Duit Fund.
The balance in the Money+ account should not be treated or regarded as e-money or a form of deposit. Returns may vary and are not guaranteed. The balance in the Money+ account is not capital guaranteed or capital protected by Perbadanan Insurans Deposit Malaysia (“PIDM”). All investments come with risks, including the risk that you may lose all or part of your investment.
For more information on the fund available through Money+, you may refer to the ShopeePay Invest page on the ShopeePay app or the Shopee app by following the steps below:
ShopeePay App:
Step 1: In the ShopeePay homepage, select Money+ homepage.
Step 2: Select the three dots on the top right of the page, then select Fund Details.
Step 3: Select Fund Information.
Step 4: You will be directed to the Fund Profile.
Shopee App:
Step 1: Go to Me page > My Wallet > Select ShopeePay
Step 2: Select Money+
Step 3: Select the three dots on the top right of the page, then select Fund Details
Step 4: Select Fund Information
Step 5: You will be directed to the Fund Profile.
2. Who is eligible for Money+?
Money+ is eligible for any Malaysian citizen who meets the following criteria:
- is 18 years old or older.
- is a ShopeePay eWallet user who has completed the latest account verification process (Standard Customer Due Diligence via eKYC, as required for “Activated” account status)
- Does not have United States (“US”) indicia (which means he/she is not a US citizen, US tax resident, born in the US, or a US mailing/permanent address or US telephone number).
4. What are the benefits of investing in the Eastspring Investments Islamic E-Duit Fund via Money+?
Investing in the Eastspring Investments Islamic E-Duit Fund via Money+ offers several benefits, focusing on flexibility, liquidity, and potential returns:
- Earn Potential Daily Returns: Your available balance in Money+ can potentially earn daily returns.
- Flexibility and Seamless Usage: You can use the balance in your Money+ account directly for daily transactions and online/offline checkouts.
- Seamless ShopeePay Integration: Your Money+ balance will automatically be used to reload your ShopeePay eWallet if your main ShopeePay eWallet balance is insufficient for a transaction.
- Low Barrier to Entry: It requires a low initial investment amount, with a minimum top up of just RM10.
- Flexible Redemptions: You have the flexibility to make redemption requests any time you need access to your funds.
When you sign up for Money+, your Money+ account comes with a feature that allows you to seamlessly complete a merchant payment using your investments in Money+, even if your ShopeePay eWallet balance is insufficient.
If your ShopeePay eWallet balance is short of the full amount for the merchant transaction, the exact amount needed to cover the shortfall will be automatically withdrawn from your Money+ account through an instant redemption.
The payment process will utilise your funds in this order:
- First, your existing ShopeePay eWallet balance will be used.
- If your ShopeePay eWallet balance is insufficient, an instant redemption from your Money+ balance will occur to complete the transaction seamlessly. The scenarios below illustrate how this works:
Scenario 1 | Scenario 2 | Scenario 3 | |
Transaction amount | RM3.00 | RM4.00 | RM5.00 |
ShopeePay eWallet balance | RM3.00 | RM2.00 | RM2.00 |
Money+ balance | RM1.00 | RM2.00 | RM1.00 |
Total balance* | RM4.00 | RM4.00 | RM3.00 |
Can payment be made? | Yes | Yes | No |
Source of funds for payment | ShopeePay eWallet balance (full transaction amount deducted) | ShopeePay eWallet and Money+ balance | Payment failure due to insufficient total balance |
*Total balance = (ShopeePay eWallet balance) + (Money+ balance)
Note: Instant redemption seamlessly uses funds from your Money+ balance to top up your ShopeePay eWallet automatically when your eWallet balance isn't enough for a payment.
6. Who do I contact should I need help?
For issues related to the ShopeePay eWallet or Money+ platform, such as:
unable to reload,
6-digit PIN problems,
unsuccessful transaction involving Money+ account,
unsuccessful bank withdrawals, or
general top-up/withdrawal inquiries.
Please contact ShopeePay Customer Service via these channels:
(1) Shopee App: Select Me tab > Select Help Centre > Scroll to the bottom to access (i) Chat or (ii) Internet Call.
(2) ShopeePay App: Select Me tab > Select Help Centre > Scroll to the bottom to access Chat.
Be aware that the Eastspring Investments Islamic E-Duit Fund is a money market fund, and like all investments, it carries inherent risks. Therefore, you should assess your personal financial objectives, needs, financial situation, risk appetite, and level of knowledge in relation to this investment product before making an investment decision.
Shariah-compliant investments are investments that follow the principles of Islamic finance. To be considered Shariah-compliant, investments must avoid or exclude:
Dealing with interest (Riba).
Excessive uncertainty or complex, highly speculative transactions (Gharar).
Gambling or pure speculation (Maysir).
Companies involved in businesses prohibited under Islamic law, such as those dealing with:
Alcohol or tobacco
- Gambling
Adult entertainment
Conventional firearms
Non-halal foods (e.g., pork)
(1) Shopee App: Select Me tab > Select Help Centre > Scroll to the bottom to access (i) Chat or (ii) Internet Call.
(2) ShopeePay App: Select Me tab > Select Help Centre > Scroll to the bottom to access Chat.