From November 7th, 2024, TikTok Shop introduces Pay Later Service, allowing customers to split their TikTok Shop purchase payments across up-to 5-month monthly installments.

What is Pay Later Service?

Pay Later Service is a credit-based payment method that grants customers of TikTok Shop access to credit, which can be repaid in up to 5 installments. Once customers receive the credit limit from Pay Later Service, they can use the credits on TikTok Shop to enjoy a "shop now, pay later" experience. This allows customers to enjoy their purchases immediately, without worrying about immediate payment.

Who Can Use Pay Later Service?

TikTok Shop customers with valid identification can apply for Pay Later Service.
Information that customers provide in their application, such as occupation and monthly income, decides their credit limit for Pay Later Service. Customers with a monthly income of THB 30,000 or lower will be granted a credit up to 1.5 times their income. Customers with a monthly income exceeding THB 30,000 will be granted a credit up to 5 times their income.

How Customers Pay with Pay Later Service

• Customers who have successfully had their Pay Later Service account verified can see the options to pay with Pay Later Service at check out.

Note: screenshots are for reference only. Actual interface, rates, figures or other details might be different.

• Customers will then proceed to make recurring payments (i.e repayments) for each installment, until they have fully cleared the order.

Note: Screenshots are for reference only. Actual interface, rates and figures might be different.

How Sellers Receive Settlements when Customers Check Out with Pay Later Service

Sellers receive the full amount of the order, whether customers check out with Pay Later Service through different tenure of installments or pay all at once.
When customer orders have been marked completed, the seller will have the full amount settled to their Seller Account Balance as usual. Sellers may check their settlement by going to the TikTok Shop Seller Center > Finance > Transactions, and may visit this feature guide to learn more about settlements on TikTok Shop.

FAQ

1. Where can sellers participate or register to offer customers the ability to pay with Pay Later Service for their store?

Pay Later Service is activated automatically for all sellers in Thailand, starting November 7th, 2024.
The payment method will be available to customers who:

• Have updated the TikTok app to the latest version.
• Have registered a Pay Later Service account and have their account verified.

During this time, the feature is in a soft launch phase and is not yet available to all qualified customers yet.

2. Will sellers be paid in separate months if customers choose to split their payment into installments?

No. When customer orders have been marked completed, the seller will have the full amount settled to their Seller Account Balance, even if customers split their payment into installments.

3. Is there any additional fee that sellers need to bear for the service of Pay Later Service?

No. There is no additional fee for sellers when customers pay with Pay Later Service.