News & Reviews:   spaylater

For Malaysians who are looking for a convenient motorcycle instalment plan, SPayLater has announced a major expansion to its Shariah-compliant financing offerings with the introduction of SPayLater Motorcycle. It is a new feature designed specifically to help Malaysians purchase motorcycles through accessible, flexible credit.

Shopee has taken to its Seller Education Hub to announce that it is increasing the SPayLater seller fee from 3.5% to 4.5% for all completed orders. This change will take place starting tomorrow (8 May).

Recently, Nor Rafidz Nazri of Bank Negara Malaysia (BNM) announced that a special body to oversee entities engaged in providing Buy Now Pay Later (BNPL) would be set up while the Consumer Credit Act (CCA) would impose tighter regulations on BNPL credit providers. Major online BNPL players that were named included Shopee, Grab and Atome as they make up 97% of BNPL providers in Malaysia.

Shopee is making a change to its Buy Now Pay Later feature (a.k.a SPayLater), which might make you less interested in using it. The online shopping platform will start charging a processing fee of 1.5% for its SPayLater payment option starting today, 17 October 2022. Therefore, even if the users pay in full in the following month, there will still be extra charges incurred.

Today, Shopee Malaysia introduced a new payment feature called SPayLater. As the name suggests, a Shopee user can buy an item and pay later via instalment fees within six months. If this is the kind of payment you like, read one more below to see how it works.