Photo: Tu Chien-jung, Taipei TimesThe amount of payment that can be delayed is capped at NT$30,000, with wire transfer being the only financial tool for payment, it says. The service also offers installment payment plans, but charges annual interest of up to 20 percent, the Web site says. “The service is more accessible and convenient than credit cards,” Shopee said on its Web site. “I am worried that this service would encourage young consumers to buy things they cannot afford. Both ShopeePay and Shopee Taiwan fall under the Ministry of Economic Affairs’ supervision due to their businesses of third-party payment services and e-commerce respectively.

Source: Taipei Times December 07, 2020 15:56 UTC