With ShopeePay, users are able to save on additional costs from InstaPay fees, and also send money to other ShopeePay users for free.
ShopeePay, Shopee’s integrated mobile wallet, continues to make financial services more accessible and convenient for Filipinos. The e-wallet offers free and real time transfers, on top of other free services, to enable easier and more seamless digital transactions.
ShopeePay users can now enjoy free cash ins and bank transfers in real time with 35+ banks and e-wallet partners, including BDO, Bank of the Philippine Islands (BPI), RCBC, Metrobank, Chinabank, UnionBank, and more with InstaPay. InstaPay is an electronic fund transfer (EFT) service that allows customers to transfer funds almost instantly between accounts and is available 24/7, all year round. On top of the new cash in via InstaPay option, users can also link their bank account to their ShopeePay Wallet for free and easy cash ins.
Within the app, verified ShopeePay users can also instantly send money to any ShopeePay user for free, available 24/7. Additionally, senders can also personalize their send money transactions with themed virtual cards fit for any occasion. With ShopeePay, users can do more cashless transactions and get discounts on load products and cashbacks on bills payment.
As more consumers embrace and adopt digital transactions, ShopeePay aims to support the transition by providing hassle-free digital banking options. This year, the Philippines saw an exponential growth of new digital consumers, recording about 12 million since the start of the pandemic.[1] Aside from the significant increase in digital consumers in the country, there is also a notable increase in the adoption of digital-only banking, recording 18.34 percent in 2021, and is expected to reach 36.18 percent by 2026.[2]
Ruoshan Tao, Head of ShopeePay Online, Philippines, said, “The digital market of Southeast Asia is rapidly growing, and digital transactions such as online payments and money transfers are also becoming more prevalent. At ShopeePay, we are committed to providing our users with seamless and easy access to digital financial services through a secure and integrated ecosystem. We look forward to continue helping Filipinos embrace digitalization.”
Here’s how to cash in to your ShopeePay Wallet via InstaPay, and enjoy up to P25 cashback on your InstaPay fee:
- Tap ‘Cash in’ on your ShopeePay wallet.
- Click the ‘InstaPay’ dropdown.
- View the specific instructions and cash in from your preferred bank.
- You will receive a notification if your cash in was successful.
- If eligible, you will receive the cashback after 7-10 working days.
To transfer money for free from your ShopeePay Wallet to your selected bank account or e-wallet via InstaPay, make sure that your ShopeePay account is verified. Here’s how to transfer:
- Tap ‘Send Money’ on your ShopeePay wallet.
- Select either ‘To Bank Account’ or ‘To E-Wallet’
- Choose the bank/e-wallet you want to send money to and input the required details.
- Enter the amount to be sent.
- Review all details to ensure accuracy and proceed with sending money.
To send money for free to other ShopeePay users, you must have a verified ShopeePay account. Here’s how:
- Tap ‘Send Money’ on your ShopeePay wallet.
- Select ‘To Shopee User’.
- Enter the phone number or Shopee username to send money to.
- Input the amount to send. You may also personalize your transfer with a virtual card.
- Enter your ShopeePay PIN to confirm the transaction.
To know more about ShopeePay’s InstaPay feature, visit https://shopee.ph/m/shopeepay-instapay.
To enjoy free cash ins and transfers, and also save on additional fees, make sure to activate ShopeePay. With ShopeePay, you can also avail of exclusive deals when you Buy Load, Pay Bills, and Scan to Pay at thousands of merchants nationwide. Download the Shopee app for free via the App Store or Google Play.
