Shopee PayLater Malaysia Payment Method in Terms of Shariah Rulings

Abstract

Shopee, now one of the most popular e-commerce platforms in Malaysia has introduced SPayLater, which is a deferred payment plan for online product purchases. This payment method allows users to purchase items on the Shopee platform with an initial loan that requires no minimum amount which can be repaid within 30 days. According to a study of previous researches, the usage of this kind of payment systems has an element of usury because it entails an extra charge considered as financial benefit from customers credit. Thus, this study aims to find out how the practice of the SPayLater system in Malaysia can be used and its acceptance in Shariah-compliant transactions. This qualitative research was carried out by analysing documents and data gleaned from observations on theories of muamalat and the types of transactions applied by Shopee. This study found that SPayLater is a Shariahcompliant service that adheres to the Islamic principles and regulations. Therefore, the use of the PayLater payment mechanism operated by Shopee Malaysia is permissible according to the Shariah rulings.