TikTok Shop Malaysia Credit Card Installment Payment Plan ("IPP") Terms and Conditions
Malaysia
Notes:
The Credit Card Installment - Handling Fee is the platform service fee charged by TikTok Shop to the Seller for providing Seller with access to the Seller funded Credit Card Installment which covers the fee charged by the Banks for providing the Seller funded Credit Card Installment facility which is calculated based on the corresponding tenure of installment, and it is subject to Service Tax (SST) of 8%.
- These terms and conditions ("IPP Terms") govern your participation in and obligations with respect to the Seller funded Credit Card Installment, which is facilitated by TikTok Shop (Malaysia) Sdn. Bhd. (Company No. 202301043192 (1537108-T)) (“TikTok Shop”) in partnership with selected acquiring banks in Malaysia ("Banks") (hereinafter, the feature shall be referred to as "IPP Feature").
- By turning on the IPP Feature on TikTok Shop Seller Center (via PC and/or Mobile Application), you hereby acknowledge that you have opt-in and agree to the following facilities to be offered to the Buyers in which they (buyers) can use Credit Card Installment to make a purchase of a Product on TikTok Shop platform, and the corresponding Credit Card Instalment - Handling Fee will be charged to you:
Tenure of Installment (s) | IPP Handling Fee Rate (before 8% SST) | IPP Handling Fee Rate (after 8% SST) |
3 months | 0.00% | 0.00% |
6 months | 0.50% | 0.54% |
12 months | 1.50% | 1.62% |
18 months | 2.50% | 2.70% |
24 months | 3.00% | 3.24% |
36 months | 4.00% | 4.32% |
Minimum Checkout Amount Information
Tenure of Installment (s) | CIMB Bank | Hong Leong Bank | RHB Bank | Ambank | Affin Bank |
3 months | RM 150.00 | RM 500.00 | RM 200.00 | RM 500.00 | |
6 months | RM 600.00 | RM 1,000.00 | RM 500.00 | RM 500.00 | RM 500.00 |
12 months | RM 1,200.00 | RM 1,000.00 | RM 1,000.00 | RM 1,000.00 | RM 1,000.00 |
18 months | RM 1,000.00 | RM 1,500.00 | |||
24 months | RM 1,000.00 | RM 1,500.00 | RM 1,000.00 | ||
36 months | RM 1,000.00 | RM 2,000.00 |
The Credit Card Installment - Handling Fee is the platform service fee charged by TikTok Shop to the Seller for providing Seller with access to the Seller funded Credit Card Installment which covers the fee charged by the Banks for providing the Seller funded Credit Card Installment facility which is calculated based on the corresponding tenure of installment, and it is subject to Service Tax (SST) of 8%.
- All Credit Card Installment - Handling Fee which is payable by you under this plan shall be effected by setting off against funds/sales proceeds in your Seller account balance with TikTok Shop. In the event that your account balance is insufficient, TikTok Shop shall reserve the right to recover such amounts owing from you. TikTok Shop may, at its option, withhold all outstanding payables to you from your Seller account balance, or issue you a bill for payment, and you shall pay such billed amount to TikTok Shop within thirty (30) calendar days from the date of bill.
- TikTok Shop may, at its sole discretion, suspend, delay or discontinue the Seller funded Credit Card Installment for any reason and at any given point of time as it deems fit, or may revise these IPP Terms from time to time, you should check the latest IPP Terms that apply prior to participating in the Seller funded Credit Card Installment.
- This Seller funded Credit Card Installment shall be read together and is treated as an addition to the rights and obligations (including any provision on late payment charges) under the TikTok Shop Seller Terms of Service (Link). Any capitalized terms not defined herein shall have the same meaning described to them in the TikTok Shop Seller Terms of Service.
- For the avoidance of doubt, you acknowledge that as it relates to the Seller funded Credit Card Installment, TikTok Shop is not your collection agent, and TikTok Shop does not provide any payment services to you, including without limitation processing any payments or refunds to or for you, accepting or processing payment from or to buyers, transferring payments to or from you or on behalf of you, or providing any merchant acquiring, money transfer or other payment processing services (“Payment Services”) to you, under any circumstances. You acknowledge that the Payment Services will be provided to you by the relevant payment service provider(s) as set out in the TikTok Shop Seller Terms of Service. By opting out of this Seller funded Credit Card Installment, you are deemed to have terminated such access in accordance with the TikTok Shop Seller Terms of Service. For the avoidance of doubt, opting out of this Seller funded Credit Card Installment Payment shall not affect (i) any rights, remedies, obligations or liabilities of the parties that have accrued up to the date of termination, including the right to claim damages in respect of any breach of the agreement which existed at or before the date of termination, or (ii) the continuance in force of any provision hereof which is expressly or by implication intended to come into or continue in force on or after such termination.
- These IPP Terms are governed under the laws of Malaysia. Unless otherwise required by applicable laws, any dispute, controversy, claim or difference of any kind whatsoever arising out of or relating to these IPP Terms against or relating to TikTok Shop, shall be referred to and finally resolved by arbitration in Malaysia at the Asian International Arbitration Centre ("AIAC") in accordance with the Arbitration Rules of the Asian International Arbitration Centre for the time being in force, which rules are deemed to be incorporated by reference in this Clause. The seat of the arbitration shall be Kuala Lumpur, Malaysia. The arbitration shall consist of a sole arbitrator, who is to be appointed by the Director of AIAC. The language of the arbitration shall be English.