Shopee Launches Deferred Payment Service 蝦皮購物推"先買後付" 可3個月分期付款

Online shopping platform Shopee recently launched a deferred payment service, which allows buyers to make purchases worth up to NT$30,000 and pay later and in installments if they wish. This service has sparked concerns and doubts about legitimacy among legislators.

Many online shopping platforms offer a "cash on delivery" service. Recently, online shopping platform Shopee launched a new deferred payment service. Buyers won't have to pay immediately when their order arrives. They can pay later, and in three-month installments if they wish. Moreover, credit histories don't need to be checked through the Joint Credit Information Center. All that is needed is a Shopee account. The credit line is NT$30,000.
I think it's no big deal. Additional payment methods offer greater flexibility.
They charge interest, so I'm a little reluctant about this service.
This service is similar to what credit cards offer, so legislators have concerns about supervisory gaps for a service that is like a credit card but not. They also worry about a repeat of the "credit card and cash card storm" from a decade ago, when people were given access to credit.
The Financial Supervisory Commission does not have supervisory authority over it, but it offers finance-related services. From what I saw online, the payment can be deferred for 15 days. This credit is not considered to be a financial service.
The Financial Supervisory Commission said the Ministry of Economic Affairs oversees the Shopee Payment service, which is considered to be a third party payment under the supervision of the Ministry of Economic Affairs, and only collection and payment are allowed. The total balance of funds collected and paid by the custody agent already exceeds the NT$1 billion limit stipulated in the Act Governing Electronic Payment Institutions, so regulations require applying to the FSC to establish an electronic payment institution. The FSC has already authorized it, but has not issued a license. It also said electronic payment institutions cannot extend credit. The MOEA's Department of Commerce says the deferred payment service offers payments in installments in accordance with the regulations in the Consumer Protection Act, and the law allows financial companies to undertake the assignation of creditor's rights and debts. Shopee is not the only company offering this service. PChome has a similar one called AFTEE that allows members to defer payments from 14 days to 45 days. The maximum credit limit given to approved users is NT$10,000.
Financial activities are generally an unregulated zone, because anyone can offer financing and loans. PChome is working with a company called AFTEE to offer payment in installments without the need for a credit card. They just have to make sure they don't violate the high interest felony stipulations in the Criminal Code.
A statement released by Shopee said its deferred payment service is offered by Shopee and has nothing to do with its Shopee Payment service. It is not a credit card and does not involve its third party payment services. It's only available to users with excellent ratings, not everyone. Users receive their bills on the first of the month and won't get charged any service fees as long as they pay in full before the 15th. Lawyers say the daily interest rate of 0.05 percent and annual rate of 18.25 percent exceed those of most credit cards, so users need to beware.
民進黨立委 林楚茵 vs. 金管會主委 黃天牧表示:「它雖然不在金管會的管轄底下,但它又可以處理金融相關的(業務)。("晚點付"大概,我看網路上,晚15天啦!) 是。(那這個授信,基本上,不算是金融的特許(事業)啦!)」
律師 施宥宏表示:「融資行為,原則上,就是一個三不管地帶。就是任何人都可以做融資,做放貸的,PChome其實也在跟一個叫AFTEE的公司,也在做合作,也是在做這種無卡分期的行為。原則上,就是說不要超過這個刑法上所規定的重利罪。」