for LazPayLater which reveals more details about its interest and penalty charges.
To enable LazPayLater, eligible users would need to perform an electronic know your customer process which requires a copy of the MyKad and a selfie picture. Users will also need to fill up a form about their personal details and set a 6-digit security PIN. The FAQ states that LazPayLater will issue a monthly statement every 10th of the next month and the due date is every 25th of the month. Users can pay for the LazPayLater bill using the Lazada Wallet, online banking, credit/debit card, Touch ‘n Go eWallet and Boost eWallet. If there’s an outstanding amount after the due date, LazPayLater will charge an overdue fee of RM30.
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