What is shopeeSpayLater? Related questions answered

There are still many merchants opening stores on Shopee, and the Shopee platform is also constantly launching new features, such as the shopeeSpayLater service. Many people don’t know what this function is. In fact, it is a new payment service. Let’s take a closer look at what its function is.

What is ShopeeSpayLater?

After the store opened this service, Shuaishou.com found that if buyers use SPayLater payment service to purchase store products, they can choose to pay for the products in installments (1-3 months). However, the platform will still pay the seller the full amount of the product in one lump sum according to the specified payment time.

If you confirm to activate the SPayLater service, the seller's transaction fees for orders completed in the store through this service will be adjusted according to the repayment period.

Related questions and answers:

1.What are the advantages of SpayLater service?

Can help sellers improve sales and order conversion rates:

① 0 yuan advance payment attracts buyers to shop, and there is no minimum consumption limit;

② Attract buyers who are more likely to pay in installments;

③ Obtain exclusive marketing functions through product labels, banners and other platforms.

2. Can sellers opt out of the SpayLater payment service in Singapore?

If sellers need to withdraw from the SPayLater payment service, please contact your account manager before August 23, 2022. If you do not choose to withdraw as scheduled, the store will be deemed to have activated this service, and orders completed in the store through this service will be charged the SPayLater transaction fee.

3. After joining SpayLater payment service for a period of time, can the seller choose to withdraw?

After the SPayLater payment service is activated, you can also contact your account manager to stop the service at any time.

A quick reminder: From the launch on August 26, 2022 until you exit the service, all related SPayLater transaction fees will only apply to successfully completed orders.

4. How can sellers join the SPayLater payment service in Singapore later?

Please contact your account manager to participate in this service.

5.What are the conditions for participating in SPayLater payment service?

All active sellers on Shopee Singapore are eligible to join the program, but eligibility will be determined based on the compliance of the seller’s store.

6. When will sellers receive funds from buyers using SPayLater payment service?

The payment method follows the current payment rules and cycle. After the order is completed, payment will be made in the next payment cycle.

7.Who bears the installment risk?

The installment risk of SPayLater payment service is borne by Shopee, and the full transaction amount purchased by the buyer will be released to the seller immediately after the order is completed.

Shopee Singapore site payment service - SPayLater is online and merchants can use it!

shopeeSpayLater is actually a "use now, pay later" service that has been launched by domestic e-commerce platforms a long time ago. That is, you can use the product without paying first, and then pay the fee when you find it useful. This new payment service is designed to allow buyers to try this service.

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