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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. via Shopee App 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?

1. To register for a ShopeePay account, you are required to provide certain personal information such as your mobile telephone number, full name, IC type, IC number, creating a password, and optionally creating a unique User identification ("User ID"). 

2. If you create a User ID that we, in our sole discretion, find offensive or inappropriate, we have the right to suspend or terminate your account. 

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

4. Without further verification, you can only store a maximum of RM2,999 in your account.

5. 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. 

6. Your ShopeePay transaction limits are determined by the verification level of your account, as outlined in our Terms of Service and FAQs. The maximum cumulative limit of incoming funds per month (including top ups and refunds) for verified and unverified accounts is RM30,000. For the avoidance of doubt, the maximum account limit at any one time for verified and unverified accounts are RM2,999 and RM9,999 respectively.

What are the fees and charges I have to pay?

We do not currently impose any fee for topping up of account 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.

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.