One of the most popular online stores in the Philippines, Shopee is known for its daily flash sales and free shipping offers. It should come as no surprise that the typical Filipino cannot resist the chance to purchase their favorite items at a tempting discount! You only need a smartphone and an Internet connection to shop on Shopee, so it's a lot easier and cheaper than going to the supermarket or local mall.
Having said that, not every payday is the same, so there may come a time when you really want to buy something on Shopee but are unable to afford it. You can simply activate SPayLater and only pay for your order at a later date, so you don't have to worry about missing out on the chance to buy your favorite items at a discount. It's similar to having your own credit card that you can only use on Shopee, but the main difference is that the application process is short and easy. ,'_com-medrectangle-3','ezslot_5',191,'0','0'_('div-gpt-ad-_com-medrectangle-3-0');
So, are you prepared to use Shopee to buy now and pay later? You will learn about SPayLater, its benefits, fees, and eligibility criteria in this guide. You will also learn how to activate it and use it to buy Shopee items.
Table of Contents What is SPayLater? Who is eligible for it? Fees, Interest Rates, and Due Dates for SPayLater How to Activate SPayLater in Shopee Step 1: Step 2: Open your ShopeePay wallet. Step 3: Select ""Activate Now."" Step 4: Take a picture of your valid ID. Step 5: Upload your ID Step 6: Enter your personal information Step 7: Perform facial verification Congratulations! Step 8: You have activated SPayLater successfully: How to Use SPayLater to Purchase Items on ShopeeFrequently Asked QuestionsWrapping Up What is SPayLater?
Shopee's ""buy now, pay later"" service called SPayLater gives users a credit line of up to 50,000 yen that they can use to buy anything on the Shopee platform. Users of SPayLater have the option of paying off their loan the following month or in 12-month installments.
The SPayLater user's spending habits and payment history determine the credit limit available to them. Depending on the user's repayment history, Shopee reserves the right to alter the credit limit. Therefore, it is essential to pay your bills on time to avoid having your credit limit decreased unintentionally.300,250],'_com-medrectangle-4','ezslot_6',192,'0','0'_('div-gpt-ad-_com-medrectangle-4-0');
In addition to the adjustment of credit, late payments may result in account restrictions like restricted use of vouchers and access to Shopee app features. The remaining balance will also be assessed a fee for late payment.
The Securities and Exchange Commission (SEC) oversees SeaMoney (Credit) Philippines, Inc.'s financial product SPayLater.
Who May Receive SPayLater?
Shopee users who are at least 21 years old and have a valid ID can use SPayLater.
SPayLater accepts the following forms of identification:
Unified Multi-Purpose ID (UMID) Passport Driver's License Postal IDPRC ID National ID SPayLater Fees, Interest Rates, and Due Dates Shopee charges a processing fee of 0 to 2 percent as well as a monthly interest rate of 1 to 5 percent. In SPayLater, the interest rate as well as the fees are as follows: 336,280],'_com-box-4','ezslot_7',193,'0','0'_('div-gpt-ad-_com-box-4-0');
Fee for processing: 0 to 2 percent of the total. Rate of Interest: 1 to 5% of the total amount ordered each month. Your individual credit profile is the basis for the interest rate. Fee for late payment: 2.5 to 5% of the outstanding balance each month.
Each month, either the fifth or the fifteenth is the due date. Upon activation of your SPayLater account, you can select your preferred due date. Ten days before the due date, you will be charged. If, for instance, your payment is due on April 15, you will be charged on April 5. To avoid fees for credit adjustment and late payment, make sure to pay off your loan at least one day before the due date.
How to Activate SPayLater in Shopee To enable buy now, pay later, you must first activate SPayLater in your ShopeePay wallet. To activate your SPayLater account, follow these steps:
Step 1: Go to your ShopeePay wallet On the home screen of the Shopee app, click on your ShopeePay wallet. Your balance will also be displayed there. You can also select ""SpayLater"" by clicking the ""Me"" tab.
A banner that reads ""Activate SPayLater"" will appear once you are inside the ShopeePay wallet. To begin the activation process, click the ""Activate Now"" button. 300,250], ""_com-banner-1,"" ""ezslot_9,"" 194, ""0,"" ""0"","" ""div-gpt-ad-_com-banner-1-0"");
Step 2: To move forward, select ""Activate Now"" from the orange menu.
The 6-digit verification code that will be sent to your registered mobile number should be entered next. Click ""Next"" to move on.
Step 3: You will now be asked to upload a picture of your valid ID. Take a picture of it. Read the instructions on how to take a picture of your ID carefully.
By tapping ""Select ID Type,"" you can change the ID, which is UMID by default. Take a clear picture of your ID after tapping ""Upload your UMID"" (or the ID you've chosen), making sure the card is in the frame.
Step 4: Review the information on your ID, including the ID number, first name, middle name, and last name, after it has been uploaded. Tap ""View"" to view your uploaded ID, or ""Retake"" to take a new picture. ”{336,280],'','ezslot_11',195,'0','0'_('div-gpt-ad--0');
Press ""Confirm"" if the details on your ID are correct. You will be prompted to verify your personal information in a pop-up window. To continue, tap ""Confirm.""
Step 5: Enter your personal information The following step requires you to provide additional details, such as your birthplace, occupation, industry, company/business name, and monthly income. In addition, you must enter your emergency contact's name, phone number, and relationship to you.
Last but not least, press ""Confirm"" after selecting ""Terms and Conditions"" and ""Privacy Policy."" Press ""Confirm"" once more to display a confirmation popup.
Step 6: Facial verification: The last step in activating SPayLater is to take a selfie of yourself as part of the facial verification process.
Make sure your face is in the frame when you take a selfie and click ""Start Facial Verification."" Wait a few seconds for Shopee to verify your information after uploading your selfie.
Step 7: Congratulations! You are now able to start using SPayLater to buy things on Shopee and pay for them later after activating it successfully. Upon activation, your credit limit will be displayed immediately.
Step 8: Choose your due date Each month, you will be asked to choose between the ""5th"" or ""15th"" of the month as your preferred due date. Press ""Confirm"" after selecting your due date.
Your SPayLater dashboard now displays your available credit, payables, bills, and most recent transactions. 3336,280],'_com-large-mobile-banner-1','ezslot_14',197,'0','0'_('div-gpt-ad-_com-large-mobile-banner-1-0);
How to Use SPayLater to Pay for Things on Shopee Now that you have activated your SPayLater account, it's time to use it to pay for things on Shopee.
The next step is to change your payment method to SPayLater, assuming that you have already added your items to the shopping cart and gone through the checkout process. Go to ""Payment Option"" on the Checkout screen and tap ""Select payment method"" to accomplish this.
SPayLater is now listed as one of the payment options. Choose from the following payment options:
Buy Now, Pay Later: Pay off your loan on the due date of the following month. Installment 3X: Make three payments on your loan each month. Installment 6X: Make six payments on time to repay your loan. Installment 12X: Make 12 payments on time to repay your loan.
Press ""CONFIRM"" after selecting SPayLater and the appropriate payment term.336,280],'_com-large-mobile-banner-2','ezslot_15',198,'0','0'_('div-gpt-ad-_com-large-mobile-banner-2-0');
Return to the Checkout screen will occur. Tap ""Place Order"" after confirming that SPayLater is selected as the payment method.
Your ShopeePay PIN will need to be checked by you. To move on, press ""OK.""
Enter your six-digit ShopeePay PIN now. You will be required to enter the verification code that will be sent to your mobile number if you have not set your PIN.
That's all! Using SPayLater, you have successfully paid for your purchase. Keep track of the total amount due and the credit limit that is available. Clicking ""View my SPayLater"" will take you to your SPayLater account.
Frequently Asked Questions: Why Doesn't My Shopee Wallet Have SPayLater? SPayLater is currently only available to select Shopee users who have been using the platform for a predetermined amount of time.580,400],'_com-leader-2','ezslot_16',199,'0','0'_('div-gpt-ad-_com-leader-2-0'); When I try to pay for an item, why is SPayLater not available? SPayLater payments are currently only available to a select group of Shopee sellers. Shopee is working to make the SPayLater service available to a larger number of sellers in the future. What will happen if I don't pay my bills on time? You will be assessed a monthly late payment fee of 2.5 to 5% if you fail to repay your loan by the due date. Your credit limit and Shopee account may also be restricted. How do I increase the amount I can borrow? Your Shopee spending history serves as the foundation for your SPayLater credit limit, which is at Shopee's discretion. Shopee may also periodically review your SPayLater account and modify (increase or decrease) your credit limit. If I use SPayLater, can I still collect Shopee Coins? Yes, you can still get Shopee Coins when you use SPayLater to buy things. After you confirm receipt of your order, Shopee Coins will be credited to your account. What is the SPayLater minimum order amount? When using SPayLater, there is no minimum or maximum order amount—as long as it falls within your credit limit. 300,250],'_com-leader-3','ezslot_17',600,'0','0'_('div-gpt-ad-_com-leader-3-0'); Can I request a refund for SPayLater-paid items? SPayLater purchases can, in fact, be returned for a full refund. Any request for a return or refund will be applied to all items in an order placed with just one seller. Any request for a refund will be applied to all other items from the same seller for orders from multiple sellers. Where can I look at my credit limit and previous transactions? On the Shopee app, select ""SPayLater"" under ""My Wallet"" from the ""Me"" tab to view your SPayLater account dashboard.
Wrapping Up SPayLater is a welcome addition to your Shopee experience that makes it possible for you to purchase the things you've always wanted even if you don't have any extra cash. SPayLater, in contrast to traditional lending institutions, does not ask for documents or collateral. Simply submit your application via the Shopee app, and your SPayLater account will be activated within minutes, allowing you to begin shopping immediately. It's that simple!
Simply log in to your Shopee account to learn more about SPayLater, or contact customer service at (02) 8880-5200.
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