Credit Card Installment Payment

Starting from the 31st of May, 2024, to facilitate more purchase scenarios and encourage higher conversion rates for high-value purchases, TikTok Shop is partnering with licensed banks and financial service providers to provide customers with the credit card monthly installment payments option, with Maybank joining as a new partner in September 2025 to further expand the available installment choices for customers.

What is Credit Card Installment Payment?

The Credit Card Installment Payment Plan (CC IPP) is an option of payment that is offered to all customers, in order to facilitate their needs to split high-value orders into more manageable monthly payments. Through this initiative, the platform aims to help sellers meet the needs of more customers and improve conversion rate, especially for high-value orders.

How customers see CC IPP

Customers will see the CC IPP option when their orders reach the minimum required value as follows. Note that not every bank supports every option of installments. Blank cells represent unsupported options.
*Note: AmBank only supports Visa credit cards.*Note: screenshots are for reference only. Actual banks, rates, data and figures differ.

How Sellers Opt in for CC IPP

Sellers can choose to opt in to offer this payment method to their customers.
Sellers may do so by going to the Seller Center > Finance > Payment Settings and toggle on the Credit card installment payment switch.
After turning on the credit card installment payment option, sellers will need to select the tenure they would like to offer their customers. They may choose among six options: 3, 6, 12, 18, 24 or 36 monthly installments.
CC IPP with the selected tenures will then be applied to all products in their stores on TikTok Shop.*Note: screenshots are for reference only. Actual rates, data and figures differ.*Important Note: By default, CC IPP is turned off for every seller. By turning on the CC IPP toggle, sellers agree with TikTok Shop's CC IPP Terms & Services, and installment handling fee will be charged. See below for details of the installment handling fee.

Fees for Credit Card Installment

Sellers who wish to enable CC IPP for their customers will be charged a Credit Card Installment - Handling Fee for each successful order, based on the tenure in months and the bank that is chosen.
*Note: Other than the Credit Card Installment - Handling Fee, orders paid via CC IPP, like all orders, are also subject to the marketplace commission fee and transaction fee. Learn more here.

Fee Calculation

1. Formula

Credit Card Installment - Handling Fee = (Customer Payment - Customer Refund) x Handling Fee Rate

2. Fee Rates

3. Calculation Example

Fee Details

Sellers may find details of their Credit Card Installment - Handling Fee in their transaction breakdown under the Finance module of the Seller Center.
*Note: screenshots are for reference only. Actual banks, rates, data and figures differ.

FAQ

1. If the customers pay in installments, will the order also be settled to sellers in installments?

No. The order, including all revenues and deductable fees (including the credit card installment handling fee) will be settled to the sellers in full after the settlement period.

2. What is the refund process for orders paid via CC IPP for sellers?

• For full refunds, sellers will receive the full amount of Credit Card Installment - Handling Fee in their settlement.
• For partial refunds, sellers will receive the amount of Credit Card Installment - Handling Fee pro rata to the refunded amount in their settlement.
  • For example, an order of RM 10000 with a Credit Card Installment - Handling Fee of RM 270 was qualified for a partial refund of RM 1000.
  • A Credit Card Installment - Handling Fee partial refund of RM 27 will be refunded to the seller.

3. What is the refund process for orders paid via CC IPP for buyers?

• For full refunds, once the refund is successfully processed, any unpaid installment will be cancelled. Buyers will receive the full refunds to the credit card with which they made the payment (subject to the actual refund processing time of the issuing bank)
• For partial refunds that has been approved by the seller and platform, buyers will need to select a bank account (not a credit card) to receive their refunds. They will be prompted to select a refund method when they request the refunds. If the refund requests go through, buyers will receive partial refunds in their selected bank account.

*Note: CIMB Bank does not support partial refunds.

4. Can sellers opt out of CC IPP?

Yes. Sellers can choose to opt out of CC IPP at any time by going to the Seller Center > Finance > Payment Settings, then turn off the CC IPP toggle.

5. Can CC IPP be configured not for the whole store, but only for selected products?

No. Once sellers turn on CC IPP, every product in the store can be purchased by buyers via CC IPP.
However, do note that, only orders reaching a minimum value requirement will be payable via CC IPP. More specifically, the minimum order requirement is as follows. Blank cells represent unsupported options.
*Note: AmBank only supports Visa credit cards.

6. What happens if the seller turns off CC IPP while the customer is in the process of placing an order, having already selected the installment payment option?

• If the customer is still on the payment confirmation page, the customer can still proceed with installment payments, even if the seller has turned off this option.
• If the customer exits the payment confirmation page and returns to make the payment again, the installment payment option will no longer be available to the customer until the seller turns CC IPP back on.