Southeast Asia is the fastest growing mobile wallet market in the world followed by Latin America. In fact, according to fintech Boku, it is predicted that one in two people will use a digital wallet by 2025.
This massive uptake was due to a snowball of smartphone use and Internet penetration in rural areas. The same factors are driving eCommerce growth in the SEA region.
Of course, consumers’ continued desire for convenience and speed will continue to drive the development of digital wallets.
That said, eCommerce marketplaces like Lazada and Shopee made sure to launch their digital wallets: Lazada Wallet and ShopeePay.
In this article, we will explore everything you need
to know about ShopeePay and Lazada Wallet database as a retailer and the advantages that your online store can offer.
5. Increase conversions with promos and rebates
Complete a touchless experience with Mobile Wallet
What is ShopeePay?
ShopeePay is Shopee’s digital wallet where you can carry out online transactions such as buying goods from Shopee and other offline merchants, and also receive or transfer funds to your bank account.
How to set up Shopee Payments
Shopee payments can be accessed using your Shopee App on mobile.
1. Sign in to your account
2. On your homepage, you can see ShopeePay or
3. Click the “Me” tab then click ShopeePay.
How to activate it is also very easy
Simply accept the terms and conditions of the ShopeePay account then set your PIN.
We highly recommend that you verify your account to ensure smoother transactions. To verify your account, you must submit a valid government-issued ID or other identification document.
Note: Additional documents can only Business Lead be approved at Shopee’s discretion.
Go to My tab > ShopeePay > IC Verification > Then fill in the required details.
A recent analysis from eCommerce research firm eMarketer predicts that Thailand’s online fashion sector will expand by around 30% over the next five years. In Lazada’s latest biggest annual sale, over 1.2 million fashion items were sold. So the potential for exponential sales is huge.