It’s been a while since Shopee launched SPayLater feature.Before using the Shopee SPayLater feature, you must pay attention to a few things so that you can better enjoy the benefits of buy now pay later and avoid falling into the debt trap.
To use SPayLater, you must first be a Malaysian citizen of 18 years of age or older and have a valid MYcard. When SPayLater is not yet activated, the system will show that you are entitled to a spending limit of up to RM6,000.
It is important to note that not all users are entitled to the RM6,000 spending limit, Shopee’s system will decide the spending limit based on the user’s payment history and spending behavior.
Before using SPayLater, you have to know 2 dates, the Billing Date and the Due Date. The so-called Billing Date is the date Shopee sends out the bill, and the Due Date is the date by which the user must pay the bill in full or be charged an additional 1.5% per month.
For old users, the billing date is the 1st of each month and the due date is the 10th of each month. For new users, the billing date will be the 21st of each month and the due date will be the 1st of each month.
If you are frequently late in making payments, your Shopee account may face the following restrictions, namely, restrictions on using Shopee Vouchers and restrictions on using certain Shopee App features.
If you are using the installment feature of SPayLater, you will be charged a 1.25% fee per month. For those who use single month buy now pay later, there is no fee.
