In less than two years, ShopBack is shutting down its 'BNPL' PayLater service in Malaysia. Here's what you need to know as an existing ShopBack PayLater user.
has announced that its PayLater ‘BNPL’ service will be discontinued later month. ShopBack PayLater customers in Malaysia have been notified about the service discontinuation today via email.
According to the notice, ShopBack PayLater which offers easy payments with 3 monthly instalments, will no longer be available from. It added that ShopBack customers can still earn cashback when they shop and pay via other services including ShopBack Pay and online cashback. It added that all cashback accumulated from past transactions including PayLater will still be available for you to use or cash out to your bank accounts.
However, users who have never activated or used ShopBack PayLater, will not be able to use the BNPL service with immediate effect. All existing outstanding instalment payments will still need to be paid on time after 22nd March 2024. ShopBack has advised users to ensure a valid payment method is saved in the Shopback account to avoid late fees on overdue payments. Users can choose to settle the outstanding payments early by selecting the “Pay Now” option.
The FAQ also added that users will only be able to remove their default payment card once all outstanding PayLater instalments are settled in full. You can learn more from the ShopBack PayLateras part of its brand refresh, allowing users to split payments in three instalments with no interest. The BNPL feature was introduced after ShopBack, ShopBack says the shutting down of PayLater was part of a periodic review of its business units.
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