How to Manage Credit Card Instalment (CCI) Plan for Your Shop?
The Credit Card Instalment (CCI) payment channel toggle gives sellers the option to enable or disable the CCI Plan at shop level. This feature is available to all sellers starting 23 March 2023 onwards.
⚠️Notes
- The CCI payment channel will be automatically toggled on for 6 to 18 months tenure for all sellers, except those who requested to opt out before 22 March 2023.
- Sellers will need to toggle on for 24 and 36 months tenure.
Sellers need to ensure that the shorter tenure is toggled on before the longer tenure(s) can be toggled on.
Example 1: Seller A wants to offer a 24-month instalment plan only. Seller A will have to ensure that the 6-month, 12-month, and 18-month instalment plans are enabled.
Example 2 : Seller B only wants to offer a 6-month instalment plan. Seller B can toggle on the 6-month instalment plan, while the rest are toggled off.
Sellers can toggle on/off via the following:
A) My Shop (via mobile application)
1. Launch Shopee App and click Me
2. Click My Shop at the top left corner to access Seller profile.
3. Click the gear icon (settings) at the top right corner.
4. Under Payment Settings, customise the tenures to offer buyers, or choose to toggle on/off the CCI payment channel for the shop.
B) Seller Centre (via webpage)
1. Launch Seller Centre
2. Under Finance, click Payment Settings from the dropdown list
3. Under Payment Settings, customise the tenures to offer buyers, or choose to toggle on/off the CCI payment channel for the shop.
Frequently Asked Questions (FAQ):
Q: Is there a limit to how many times I can toggle on and off the CCI payment channel in a day?
A: There is no limit. However, do give a 5-minute window before switching between on/off.
Q: How long will it take for the CCI payment channel to be removed from my shop once I toggle it off?
A: Once you toggle off, the CCI payment channel will be removed from your shop within the next 5 minutes.
Q: What happens if an order comes in while I am toggling on/off?
A: The order will be charged as per the original setting.
Transaction Fee for Credit Card Instalment (CCI) Orders
Credit Card Instalment (CCI) Plan is a payment method for all sellers to help boost sales by providing buyers with an additional payment option.
📢 Announcement
The fee for new orders made with the CCI payment channel (CCI Transaction Fee) will be updated following the rates provided by the acquiring banks.
From 23 March 2023 onwards, you can customise the Credit Card Instalment Plan tenures (months) offered to buyers, or toggle on/off the CCI Plan entirely. Find out more about the toggle HERE.
⚠️Note
You may submit an opt-out request via this Change Request Form by 22 March 2023. Shopee will process all requests and you will be opted out before 23 March 2023.
Buyers can choose the CCI payment channel as their payment option if their order/combined checkout amount meets the minimum and maximum amounts shown below:
For every order made via the CCI payment channel, the acquiring bank charges a small transaction fee. Below are the updated CCI transaction fee rates for each instalment tenure:
*24-month and 36-month tenures are only available for CIMB credit card holders.
Below are examples of CCI Transaction Fee charges for each order / combined checkout (checkout with purchase from more than 1 shop) with different tenures:
*The rates above are including SST.
Click here for the CCI Plan Terms and Conditions.
⚠️ Notes:
- The standard 2% transaction fee still applies to orders made with other payment methods.
- CCI Transaction Fee is shown as Transaction Fee on Seller Invoice.
Frequently Asked Questions (FAQ):
Q: Is there a difference in CCI transaction fee if the buyer chooses different banks to place their orders with the CCI payment method?
A: No. There will be no difference in CCI transaction fee regardless of the bank selected by the buyer.
Q: Are the 24-month and 36-month tenures available for all credit card holders?
A: For now, only CIMB offers instalment payments for 24-month and 36-month tenures.
Q: I missed the deadline to submit the Change Request Form. Can I still opt out if I do not wish to have the CCI payment channel for my shop?
A: From 23 March 2023 onwards, you will be able to toggle off through Seller Centre or Shopee App if you do not wish to have the CCI payment channel for your shop.
Q: Can I opt in again for the CCI payment channel after opting out?
A: Yes. You can toggle on the CCI payment channel on Seller Centre or Shopee App.