Who here likes online shopping? There are lots of online shopping platforms that you can access right now, one of which is Shopee. Apparently, there is an interesting feature from Shopee called Shopee Paylater.
Want to know more about Shopee Paylater? Check it out below!
Also Read: Tips and Tricks for Playing Shopaholic Crazy Shopping Games!
What is Shopee Paylater?
PT Shopee International Indonesia is a company engaged in the field of platforms shopping online which has been present since 2015. On this platform, users can sell or buy various products.
IDR 50,00062%
IDR 18,900
Starting from food needs, electronics, household appliances, everything is at Shopee. Let's call this Shopee a Toserba (convenience store).
However, many Shopee users didn't have enough balance at the time, but were in need of these products. Answered the problem, on date August 26, 2022, Shopee Paylater (SPayLater) is here.
Shopee PayLater or SPayLater is a feature that allows users to borrow a number of balances from Shopee for shopping. You can pay the balance that you borrow later after you have the money.
The short term is "Buy Now, Pay Later“. So you can buy an item, but pay for it after you get your salary.
Shopee Paylater Interest Rates and Fees
Each account will later have a limit on the number of Shopee PayLater that you can get. Quoting from the official page Shopee, each account can have a balance limit of up to 50 million rupiah with a payment limit of up to 12 months!
The following is a table provided by Shopee PayLater:
To be clearer, the author will give an example for three installments of 1x and 3x installments.
Let's take an example transaction amount you are big 600.000 rupiah and want to be paid as much 1x installment. This means you have to pay:
600,000 + 1% handling fee + 2,95% Interest rate, meaning
600.000 + 6.000 + 17.700 = 623.700.
However, if you are late paying, you must add 5% to the total above, which is equal to 31.185 rupiah.
Second example, you have transaction amount as big 600,000 rupiahs and want to pay for it with 3x installments. It means you have to pay
600,000 / 3x installments = 200,000
200,000 + 1% handling fee + 2,95% Interest rate, meaning
200.000 + 2.000 + 5.900 = 207.900
Pros
From the explanation of Shopee PayLater, the author finds six advantages of using it. Of course, this advantage is made so that Shopee users are safer and more comfortable in transactions.
First there are interest rates and handling fee which low. As the author wrote above, the interest rate from Shopee PayLater is only 2,95%. This figure is relatively small when compared to other credit programs.
Also, the handling fee is set using a percentage following the amount of your bill. Not an exact number like a bank transfer to another bank with a handling fee of 7,500 rupiah, but you only transfer 100,000 rupiah.
Second is Installment options can be up to 24x. For regular users, you can choose up to 12x installments. However, if you are a Shopee customer, you will have the opportunity to choose 18 and 24x installments!
Third is choose a due date. There are not many companies whose customers can choose the maturity date according to the time you borrow it. Starting from the 5th, 11th and 25th of each month.
And, as the author mentioned, each user has a different maturity. He will round off the date of your transaction to the nearest three digits.
If you forget, Shopee will notify you 10 days before it's due.
Fourth is The funds you get can be used immediately. Considering that this is a feature of Shopee, after you submit it, you can immediately place an order.
Fifth advantage comes from the seller's side, ie money paid by SPayLater users is received immediately. Call it Shopee "bailout" product purchases with money. So if the buyer has a problem, the seller is not affected.
Lastly is the lending of funds supervised by OJK (Financial Services Authority). That way, you can be more comfortable doing transactions because it has been supervised by an official state agency.
Cons
When talking about advantages, of course there are also disadvantages to Shopee PayLater. The writer finds three drawbacks of this feature.
First is hefty late fees. Although not as big as other credit programs, according to the author, 5% is quite large.
Second is use within the Shopee app only. This can actually be both an advantage and a disadvantage. Since this is a feature of Shopee, of course he wants the feature to work only for Shopee.
This is the advantage, Shopee PayLater cannot make real money or transact elsewhere. This serves to avoid terms Gestun or Swipe Cash.
Gestun is an illegal activity that allows people to borrow some money from a shop, but the money is not used in the shop. For example, there are users who try to withdraw their SPayLater funds, but they are used to buy products at Tokopedia. Of course that won't work.
The last is giving rise to hedonism or consumptive nature. Yes, if you often use SPayLater, it's not impossible that you will have the mindset "Just buy it, payday will immediately pay“.
Of course this is contrary to the savings system. Especially if your payday is postponed, you will get an additional fee due which is quite large.
Collaborate With VCGamers
An important piece of information for Vicigers is that VCGamers will collaborate with Shopee. After the payment method Shopee Pay, this time VCGamers added the Shopee method PayLater.
A little leak, this collaboration is similar to the one above, but the difference is that you buy the product VCGamers Marketplace. So, you can buy game vouchers now, pay later.
Stay tuned for further news regarding the collaboration release date!
Also Read: Easier, Top Up Games on VC Market Will Be Able to Use Shopee PayLater
Final Words
Those are the explanations, advantages and disadvantages of Shopee PayLater or SPayLater. Hopefully, with this article, you will have the consideration to activate SPayLater and be wise in using it.
So, have you tried Shopee PayLater yet?
Fulfill your game needs with Top-Up using Shopee Paylater at VCGamers Marketplace and get attractive promos in it!
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