E-commerce giant Shopee has launched a standalone app for its e-wallet, ShopeePay. The separate app is available to download on both iOS and Android through the Apple App Store and the Google Play Store respectively.
When you open up the app, you have the option of logging in with your existing Shopee account or to sign up for a new account. Just like the e-wallet on the shopping app, you will have to verify your identity through an e-KYC method.
The app includes all the familiar features that are already available including QR code payments, transfers, requests, SPayLater, top-ups, bill payments, insurance renewal, and more. You can even earn and spend Shopee coins through the ShopeePay app for both online and offline transactions.
While there is nothing new in the app, having a separate e-wallet app does signal the company’s intention to compete for in-store transactions with the likes of other e-wallet apps like Touch ‘n Go eWallet. However, it does have some limitations, such as the lack of an ability to perform DuitNow transfers. Later this year, it will introduce cross-border transfers and transportation ticket purchases.
UPDATE: A representative has informed us that while fund transfers via DuitNow ID types have been discontinued on the main Shopee app, the feature is now exclusively available through the new ShopeePay app.
(Source: Shopee Press Release)
