ShopeePay is a mobile wallet integrated into Shopee, one of Southeast Asia’s most active e-commerce platforms
Accepting ShopeePay gives Malaysian merchants access to Shopee’s existing user base.
Merchants can enable it through QR code payments for in-person sales or through the ShopeePay APIs for online payments.
Merchants in Malaysia are charged a Merchant Discount Rate (MDR) on each ShopeePay transaction, which is deducted from each sale rather than paid separately.
For sellers expanding beyond Malaysia, the World Account can receive marketplace payouts in USD or MYR and hold the balance until the seller decides to convert or spend.
Shopee is one of the most widely used e-commerce platforms in Malaysia, and ShopeePay is the mobile wallet built into it. ShopeePay is now also being rolled out as a standalone app in selected Southeast Asian markets, extending its use beyond the Shopee marketplace.
For Malaysian merchants, ShopeePay matters because a large portion of Shopee buyers already use it as their default payment method.
This guide covers what ShopeePay offers, how it works for sellers, what fees to expect, and the steps to start accepting it. It also covers what comes next for sellers whose Shopee business grows into cross-border trade.
What is ShopeePay?
ShopeePay is a mobile wallet built into the Shopee app, developed by SeaMoney, the digital financial services arm of Sea Limited. It allows users to store balances, pay for purchases inside Shopee, transfer money to other users, settle utility bills, and pay at partner merchants using QR codes.
In Malaysia, ShopeePay sits inside the same Shopee app that customers already use to browse and buy products. Users can top up their wallet directly from a linked bank account, debit card or credit card, or set up an auto top-up so the balance is always ready at checkout.
For sellers, that means, when a shopper on Shopee reaches checkout and sees ShopeePay as an option, the payment goes through in a couple of taps, without having to enter card details or switch apps–directly decreasing the chances of drop-offs.
ShopeePay covers several use cases beyond just paying for Shopee orders. The main features include:
In-app payments on Shopee: Users can pay for Shopee purchases directly from their ShopeePay balance, without needing to add card details each time
QR code payments at partner merchants: ShopeePay can be used to pay at physical stores and partner online merchants by scanning a QR code
Peer-to-peer transfers: Users can send money to other Shopee users using their mobile number or Shopee username
Bill payments: Utilities, subscriptions and other recurring bills can be paid through integrated partners inside the app
SPayLater: ShopeePay users can access SPayLater, a Buy Now, Pay Later service that lets shoppers defer a purchase for a month or split it into instalments over three, six, nine or twelve months. SPayLater can be used both on Shopee and at participating external merchants
Promotions and rewards” ShopeePay users get access to cashback, vouchers and loyalty offers when paying through the wallet, both on and off the Shopee platform
How to use ShopeePay as a merchant
Merchants selling on Shopee from Malaysia can accept ShopeePay through two main integration paths, depending on whether the business sells in-person, online, or both.
In-person payments
For physical stores, market stalls or pop-up shops, ShopeePay works through QR code payments. Customers scan the merchant’s QR code inside the Shopee app, confirm the amount and pay directly from their ShopeePay balance.
Online payments
For online sellers who want to accept ShopeePay on their own website or app (outside the Shopee marketplace), integration happens through the ShopeePay Payment APIs. The general setup involves:
Sign a commercial agreement and NDA with ShopeePay’s integration team to begin the onboarding process.
Receive onboarding credentials. ShopeePay issues each merchant a Client ID and a Secret Key for authenticating API calls during integration testing.
Integrate with the ShopeePay APIs. Development follows ShopeePay’s API rules, including OAuth 2.0 authorisation and HMAC-based signature verification. All API calls must be made from the merchant’s own servers, not from a frontend application.
Test in the staging environment using the Malaysia access node before going live.
Go live on ShopeePay’s production environment once integration testing is complete.
On the Shopee marketplace
If you sell through Shopee’s own marketplace rather than an external website, ShopeePay is available at checkout by default for shoppers, so no separate integration is needed. Payouts follow Shopee’s standard seller payout process.
ShopeePay fees for merchants
Merchants who accept ShopeePay pay a Merchant Discount Rate (MDR), which is a percentage fee deducted from each sale rather than paid separately. For regular ShopeePay merchants in Malaysia, the standard MDR is 1% of the transaction amount.
For example, on RM10,000 of ShopeePay sales in a day, the MDR deduction would be RM100, and the merchant would receive RM9,900. The MDR is not charged on refunded transactions, so any refunded amount does not incur the fee.
Note that MDR rates can vary based on the merchant category, transaction volume and specific product arrangements.
WorldFirst is built for businesses going global
For Malaysian sellers scaling beyond ShopeePay and the local Shopee marketplace, the World Account from WorldFirst helps handle the payment side of cross-border trade. WorldFirst is an international payments provider, and the World Account is a multi-currency account built for businesses selling across borders.
Malaysian businesses can open USD and MYR receiving accounts inside the World Account, receive USD payouts from international marketplaces and clients, hold balances in the currency they were earned in, and send payments in USD, MYR or CNH. World Pay, the authorised international payment provider for 1688.com, lets businesses pay Chinese suppliers directly in CNH.
→ Learn how to receive money from Shopee with a World Account
ShopeePay uses several security features to protect users and merchants, including PIN authentication, enhanced e-KYC verification, and biometric login.
2. Can any Malaysian business accept ShopeePay?
ShopeePay is available to Malaysian merchants who complete the commercial onboarding process with ShopeePay’s integration team. The specific requirements can vary based on the merchant type, business category and integration path (in-person QR code or online API integration).
3. What currencies does ShopeePay support in Malaysia?
ShopeePay in Malaysia handles transactions in Malaysian ringgit (RM). For sellers receiving payments in foreign currencies from international marketplaces or clients, a separate multi-currency account is typically used alongside ShopeePay.
This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.
