SPayLater and LazPayLater

SPayLater and LazPayLater -diarynigracia

SPayLater and LazPayLater Article 24 -diarynigracia

SPayLater and LazPayLater


Lazada and Shopee, two online marketplaces that compete to provide better bargains than the other, want to improve your online shopping experience. To relieve the strain of having to pay the full price up front, they started offering “Buy Now, Pay Later” plans. But which is superior?


To help you decide which platform best meets your online shopping needs, we’ve broken down online shopping loans for both platforms, covering everything from the application procedure to loan repayment.




Similar to a Shopee seller loan is the SPayLater. It is a function that allows approved customers to purchase an item now and pay for it later. You can submit a loan application and then spread out the payment over three months.


The Shopee loan installment Philippines, however, is only valid for Shopee purchases. You cannot take out a loan from Shopee and utilize the money elsewhere.


If you use the program, there is a processing fee of 0% to 2% for each transaction. This fee is distinct from the Shopee pay later interest rate. A percentage of the things you purchased, ranging from 1% to 5% every month, will be charged in interest.



What is the LAZADA Loan?

You can borrow money through the Lazada Loan service from unaffiliated Lazada partners. They’ll lend you money, which they’ll subsequently deposit in your Lazada e-wallet app.


You are not directly borrowing money from Lazada when you take out a Lazada Loan. You will take out loans from numerous recognized partners, including the ones listed below:

  • Bill Ease
  • PayLater
  • Tendo Pay
  • Cashalo
  • InvestEd
  • UnaPay
  • JuanHand

Depending on the lender, various PayLater Lazada criteria apply. However, you must first activate your Lazada wallet in order to use any of them. After doing this, you must visit each loan page to submit an application.


The PayLater Lazada interest rate will vary from one lender to another because of the involvement of many businesses. As a result, you must evaluate each lender to ascertain which will charge you the lowest interest rate.



Lazada Paylater vs Shopee Paylater – How and where to use

You can receive loan credits for your Shopee purchases using SPayLater, with up to three months to pay it back. Make sure the retailer you’re buying from allows SPayLater before checking out your purchases, as not all Shopee merchants accept SPayLater.


On the other side, Lazada loans are not offered by Lazada. Lazada instead works with a number of fintech (financial technology) companies to offer Lazada loans. Some of these lending companies offer loans as Lazada credits, while others let you cash out a portion of the original loan amount. Your credits can be used to make purchases from any Lazada store.



Shopee collaborates with businesses who accept SPayLater, whereas Lazada has a total of 7 partners that offer online buying loans.


Application process

How to pay SPayLater? To use Shopee’s SPayLater, you need to be pre-qualified before application. You can pre-qualify if your monthly purchase in Shopee is more than ₱2,000 or you have 10 to 25 completed purchases in the last 6 months. Once you qualify, you need to activate SPayLater by submitting a photo of your government ID, a selfie, and completing the application form. Your application will be under review for the next 24 hours. Once your SPayLater has been approved and activated, you will receive a notification that your SPayLater account has been activated and you are eligible to loan XX amount.


For the step-by-step activation process, read their instructions here.


Anyone can apply for a Lazada loan through their accredited loan partners. Requirements can vary from one Lazada loan partner to another, but commonly required documents are 1 valid ID and proof of billing. You will then submit the required documents and fill out the application form in the partner application portal or app.

One valid ID and proof of billing are the two most frequently requested documents, though requirements can differ from one Lazada lending partner to another. The next step is to provide the necessary paperwork and complete the application via the partner application portal or app.


To find out more about the application procedures for each partner, visit the Lazada loan partners website. You must have an active Lazada wallet because some of these partner loans come in the form of Lazada credits. If you’re uncertain as to whether your Lazada wallet has been enabled, you can review the procedure here.


Interest rate

The SPayLater feature on Shopee charges 1% interest every transaction.

Interest rates for Lazada loans range from 0% (on special occasions) to 8% depending on the partner. So, before you apply, be sure to examine the interest rate.


Repayment schemes

By offering a variety of payment methods, loan providers ensure that paying back your debts is convenient.


Depending on the loan provider, there are different ways to pay your Lazada loans. For instance, UnaCash offers a variety of payment methods, including GCash, partner banks, M Lhuiller, 7-11, and others.


You can pay your monthly fees for Shopee’s SPayLater through Shopeepay,, GCash, partner banks, and other over-the-counter methods. You may view the complete list of payment partners here.


Late payment interest rate

There are always fees and penalties for late payments. So be careful to write down the due dates for your payments. Some lenders of loans have monthly installment payments, while others have bi-monthly payments (monthly amount due will be divided into two payment dates).


While Lazada late payment penalties and fees vary, once again dependent on the loan provider, Shopee SPayLater has late payment interest rates ranging from 2.5% to 5%. Others charge a percentage of your loan for each day your payment is late, while some have a predetermined sum. Choose a loan provider that best meets your needs based on your financial position and online shopping preferences.




You need to be familiar with some of Shopee’s payment options, including ShopeePay, Cash on Delivery, and Pay with a Card. Each of them will have unique benefits and drawbacks.


A more innovative payment technique than the previous ones has recently been introduced by Shopee. If Shopee considers you to be a competent user, you must not overlook this functionality. SPayLater is in use. This feature is undoubtedly more practical than alternative approaches.


SPayLater is open to most Shopee users who are at least 21 years old and have a valid government ID.


How do I pay with SPayLater?

If you’re eligible for SPayLater, you can use it to pay for your orders after activation on Shopee App.


Activating SPayLater

Activate SPayLater by going to the Me tab > Activate Now > Fill in the One-Time Password sent to your registered mobile number > Continue > Fill in your MyKad details and other required information > Start Facial Verification > Start PayLater.


Paying with SPayLater

Select SPayLater during your checkout:

Payment Option > SPayLater > CONFIRM > Place Order > fill in your ShopeePay PIN number or the Verification Code sent to your mobile number > CONTINUE.



  • Instead of entering the ShopeePay PIN number if you haven’t set up ShopeePay, use the verification code that was given to your registered mobile phone.
  • Depending on the billing cycle you choose, the SPayLater website will update with your completed and refunded orders every 5th or 25th of the month.
  • No later than the fifth or fifteenth of the next month, you must settle your bills. You are strongly advised to pay off SPayLater invoices in advance, though.

❗Before completing your purchase, double-check that the payment option you want is selected (Buy Now, Pay Later, Installment x2, or Installment x3). Once the order has been submitted, it is impossible to amend it.


Checking out with SPayLater and another payment method

If you don’t have enough credit limit for your purchase using SPayLater, you can use your remaining credit limit and another payment method (except COD and Credit card) to proceed with your payment.



Payment Option > SPayLater > Pay pending amount with another payment method > CONFIRM > Place Order > fill in your ShopeePay PIN number or Verification Code sent to your mobile number > CONTINUE.


Shopee PH Help Center


You can pay by SPayLater on Shopee if you:

✅Are 21 years or older

✅Have a valid Government ID

A spending limit applies depending on your payment history and spending behavior. You can view the overall and remaining spending limit on the SPayLater page.


If you fulfill the eligibility conditions but cannot pay by SPayLater, contact Shopee Customer Service.



  • Your spending limit may be adjusted at Shopee’s discretion, depending on your repayment behavior. Pay your bills on time to avoid adjustments.
  • There is no minimum order amount for using SPayLater.


Payment plans

SPayLater has a processing fee of 0-2% per transaction amount and monthly interest ranges from 1-5% for items. Pay your SPayLater bill on time to avoid additional charges!



Processing Fee Interest Rate Late Payment Fee
0-2% of the total amount 1-5% per month of the total order


The interest rate will be based in your personal credit profile

2.5 – 5%


This monthly interest rate is applied to the outstanding amount




  • Your Shopee account may face these restrictions if you’re often late for payment:
    • Limited usage of Shopee vouchers
    • Limited access to Shopee App functions


Payment due dates

You can select your SPayLater payment due dates based on when you make your purchase. Here are the available due dates:

  • Pay by the 5th of each month
  • Pay by the 15th of each month




  • You’ll be billed for payment 10 days before the due date. Learn how you can view your SPayLater bills.
  • If you are paying by the billing cycle selected before the due dates, you will have to complete payment according to the original due dates. Check the SPayLater page for your due dates.



If you request for a return/refund for products paid by SPayLater, these terms apply:

  • For orders from 1 seller only, any return/refund requests will apply to all items.
  • For orders that have items from more than 1 seller, any refund requests for an item will apply to all other items from the same seller.




Only pre qualified users are allowed to apply for LazPayLater. To apply, users need to have an active and verified Lazada Wallet, provide necessary information, and submit any of the acceptable IDs (passport, driver’s license, UMID, and SSS ID).


Most purchases are available for the loan with LazPayLater, with the exception of Fine Jewelry and Digital Goods like mobile load, e-voucher, gift cards, and more. Some users might be able to utilize the application to pay their bills. LazPayLater can provide you with a credit limit of up to PHP 15,000.

Users of LazPayLater can shop today and pay later, either with or without accruing additional interest based on the date of their final payment. The 0% plan offered by LazPayLater is available to those who decide to pay up to 45 days later. However, if a user opts to pay over a longer period of time (12 months), additional interest will be calculated according to the chosen payment schedule (3/6/9/12 monthly installment).


LazPayLater features no processing, handling, or subscription fees, according to Lazada’s FAQ website.


Every 16th of the month is the predetermined due date set by LazPayLater for all users who take out loans. Although there is a two-day grace period, if your payment is late, there will be an outstanding fee. The loan amount and/or payment terms also affect the late payment cost.



How to Apply for a LAZADA Loan?

Customers have another option for paying for their online purchases with Lazada Loans, whether they’re for electronics or groceries. To make this option possible, Lazada collaborated with approved mobile lenders. To apply for a loan, all you have to do is go to the loans page and choose a lender. There are several lenders, and you can find them on the list above.


Once there, click the button that is particular to the lender. You can then adjust the loan amount you want to take out using the sliders that are currently available. You may also choose the word. Although not all lenders offer the same terms, there are lenders who offer terms of between two and twenty-four months. When finished, click the Apply Now button.


Before applying, make sure your Lazada wallet is active. If the loan is approved, the lender will transfer the money to your Lazada wallet.


With a Lazada Loan, customers may make immediate purchases and make payments over time using simple installment plans without using a credit card. Through the Lazada website or app, you can apply for a loan directly, and your application will be granted the same day. Once authorized, you can utilize the loan money to pay your payments or purchase things from Lazada within the app.


What are the Benefits of Lazada Loans?

Lazada Loans can assist you in financing any small-ticket purchases you have in mind. Depending on the lender, you may be able to borrow up to $50,000.


  1. Easy to Apply

The Lazada app is where the entire procedure takes place. There is no need to travel somewhere to apply for and withdraw your funds.

  1. Minimum Interest Rate

For first-time lenders, Lazada’s installment partners provide a 0% APR loan. Conversely, successful loans will be subject to standard interest rates, which typically range from 2% to 5%.

  1. Quick approval

The entire loan application procedure is done online. As a result, according to Lazada, the approval lead time might range from being instant to being 24 hours.

  1. Creditworthy Lenders

Lazada carefully chooses its lenders, so you can be sure that you won’t be taken advantage of. To find the lender that best matches you, you must consider each one’s advantages.

  1. Flexible Payment Schedule

Either choose a 24-month term or pay in full as soon as 15 days have passed. You can choose a payment period using these options so that it won’t interfere with your financial flow.


Do Lazada Wallet credits expire?

Lazada Wallet credits obtained via a Lazada Loan never expire, allowing you to make purchases whenever you want. However, keep in mind that you will still be required to pay back the loan even if you don’t utilize your Lazada Wallet credits.



Your shopping experience will be more engaging if you use this new feature. So that you feel more secure when shopping online, let’s activate this payment method as quickly as feasible. Therefore, in the end, it is still up to you. Depending on your individual circumstances, your ability to pay, and whatever you require at the time of purchase, you should choose which platform to utilize.




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