Shopee Pay Later There is an Element of Malaysian Illegal Riba
Jun 25, 2021
Shopee Malaysia introduces Shopee Pay Later so you can buy now and pay later. Today, Shopee Malaysia introduced a new payment feature called SPayLater. As the name suggests, Shopee users can purchase items and pay later through installment payments within six months. If this is the type of payment you like, read another one below to see how it works.
Problems Doing Business Near Facebook
There are still many other problems that are often experienced behind all the advantages that exist in social media such as Facebook. In fact some of these problems are causing many merchants to give up with online businesses!
With the help of some fellow traders who sell goods on Facebook, I want to share some of these problems to everyone, especially those who may just want to try to sell goods on Facebook.
Algorithms in Facebook Ads are constantly changing
The time required to master the technical aspects of FB Ads takes quite a long time. Sometimes you just understand and try to apply your understanding, the algorithm on Facebook changes again! Lots of “PM” comments instead of buying.
For those of you who are learning the techniques to viralize your posts and ads, you will certainly be faced with a situation where many people comment and you as a seller, will definitely want to reply to all those comments. Among the most received comments was “PM”.
What’s sad is that when you’re PM, your prospects just keep quiet. Need to build credibility and “trust” To increase the percentage of your sales, you need to have a page that has high credibility.
To increase this credibility, it takes a long time and requires you to have ideas and strategies that are quite “power” You need to get a lot of page likes to get “trust” from your prospects.
Customer Problems Asking for Discounts
Customers ask for a discount. Because you need to interact with customers through any form of “messenger”, the percentage for customers asking for a discount once you state the price is very high.
Discounts are not a little requested. You yourself have benefited from ciput. If you ask for a discount, it’s ok. There are also customers who ask for discounts and free shipping/postage. Customers ask for products that are out of stock.
This is one of the main problems that traders often face on FB. When a customer asks to buy a product and you run out of stock, it will cause your customer to run away from you.
It seems that there are many problems when doing business on Facebook? In fact, there are many more problems experienced by merchants on Facebook. To be listed is saturated, you want to read. When you have been doing business on FB for a long time, you will feel this kind of problem that is often pressing.
There is tension until you are lazy and want to do business on FB… errkk ..are yourself here?Sell Goods on the Shopee Platform
However, if they use the Shopee platform, there will be no more such problems. Shopee is an online selling platform that is becoming increasingly popular, and even its customers are increasing day by day. I myself am a seller and also a customer at Shopee.
Advantages of Doing Business and Selling Products at Shopee. Ok. Why is doing business on Shopee an advantage over doing business online on Facebook? At Shopee, you will not experience the problems mentioned above.
Bookings are only accepted when the customer makes a payment only
Customers who agree with the price and shipping costs you offer will continue to buy. While for those who do not agree, you do not have to bother to “negotiate” the price.
Credibility and “trust” only require you to get a positive review.
You can get it by asking your customer to leave a review upon completion of the transaction between you and your customer.
The remaining stock will be displayed to your customers so they will act more quickly before running out of stock. Shopee Tools will help you do promotions and increase sales, either using free or paid methods.
SPayLater User Terms
According to the official website, any Malaysian who has a valid MyKad can use Shopee Pay Later but must be at least 18 years old. Once you’ve updated your Shopee app to the latest version, log in to your profile and find SPayLater then activate. After filling in the required steps, you will be able to use it immediately.
If you want to use SPayLater during payment, tap Payment Options and it will appear there. The list includes “Buy Now Pay Later” or some installment payments depending on the product. Once you’ve selected your preferred payment option, enter your Shope PIN Your ePay and you are ready and done. However, keep in mind that you have to pay the installment fee manually which can be done on the SPayLater tab.
Customers who choose this option are encouraged to pay on the first day of the month and no later than the 10th day. If you are late, you will have to pay up to 1.5% more each month. To find out more, you can visit the page here or contact their customer service. Stay tuned for more popular tech news at TechNave.com.
The advantages of SPayLater?
Many ask us about the new system introduced by Shopee, namely Shopee Pay Later or SPayLater for short. Shopee Pay Later is an installment payment system for eligible buyers. Eligible buyers can choose installment payment for 2, 3 or 6 months. Service fee is charged at 1.25% per month. In addition, a late charge of 1.5% per month is levied as a late installment payment penalty.
Shopee has appointed SeaMoney Capital Malaysia Sdn Bhd (SeaMoney) to conduct Shopee’s installment payment operations. The following is a summary of how SeaMoney operates SPayLater:
The buyer (buyer) buys the goods offered by the seller (seller) as usual in Shopee and opts for installment payment.
SeaMoney will buy and the seller will sell and/or hand over all amounts outstanding under the purchase agreement to SeaMoney, and the seller will receive the amounts outstanding under the Purchase Agreement.
Buyers will pay in installments to SeaMoney.
Why Can It Be Riba?
The following are the Islamic issues that arise from this rule:
The ownership of the goods purchased by the buyer does not transfer to the Shopee to make the installment sale-purchase agreement with this additional payment valid on the Islamic side (bay taqsith).
Shopee and/or SeaMoney only act as financiers/creditors in this system (such as conventional banking or Aeon Credit)
Shopee and/or SeaMoney only take over the debt (bay al dayn) between the buyer and the seller.
Shopee and/or Seamoney charge a service charge of 1.25% per month.
Shopee and/or Semoney charge a late fee/penalty of 1.5% per month.
In our opinion, this is legitimately involved in RIBA. Therefore, we advise all of us to AVOID getting involved with the Shopee Pay Later installment payment scheme because RIBA is involved. However, regular purchases with Shopee in cash and not involving installment payments are a must. Shopee Pay Later Reference In Terms of Service
Enrich knowledge, stay away from shallowness. Stay away from usury. Stay away from fighting with Allah SWT and His Messenger. God willing. God willing…
