Lazada PayLater: Activation, Requirements & Fees

Want to buy that new phone but it’s slightly out budget?

Whatever your needs are, you can now borrow money from LazPayLater. Learn what are the requirements, how to apply and the interest rates here.

What is Lazada PayLater?

Lazada PayLater is a credit line that allows a user to buy items in Lazada to be paid in installments. Users can shop now and pay up to 45 days later with 0% installment.

They can also avail an installment plan of up to 12 months with the appropriate interest rates.

LazPaylater is the app’s in-house credit line available currently for selected users. Users can get up to P15,000 credit depending on their purchase history and credit score.

Lazada PayLater Interest Rate and Fees

The Lazada Pay Later plan is free if you plan to pay within 45 days. But for the 3/6/9/12 monthly installment plans, the fees are calculated upon checkout.

In our experience of ordering a gaming steering wheel worth P6,470, the interest rate was 3.91%. Our total amount paid came out to be P7,227.

So, it’s safe to say that LazPaylater charges an interest rate of within 5%. But this also depends on your credit history, purchase history, length of installment plan and other factors.

Aside from the interest rate, you need to be wary of an overdue fee. This is the fee you’ll pay on top of the interest rate if you fail to pay within the due date.

The monthly statement cycle begins every 1st of the month and ends on 30th of every month. The due date is every 16th of the month. Lazada provides a 2-day grace period to settle your credit.

Aside from the interest rate and overdue fee, you don’t have to pay anything else like handling fees, subscription fees or processing fees.

What are the Lazada PayLater Requirements?

The first requirement is that you should be able to access the LazPayLater in the Lazada app. This credit service is only available for a select few individuals as of now.

Although Lazada doesn’t state what are their criteria for selecting the pre-qualified users, here are our estimates:

  • Verified Lazada account
  • Active account (Many orders over the past months)
  • Substantial amount of purchases
  • Very minimal cancelled orders
  • Good payer

If you can access LazPayLater, you only need to provide a valid ID such as:

  • Passport
  • Driver’s license
  • UMID (Unified Multi-Purpose Identification) ID
  • SSS (Social Security System) ID

How to Activate LazPayLater

Here are the steps to apply for LazPayLater:

Step 1: Open your Lazada app and go to Account

Step 2: Under Lazada Wallet, tap LazPayLater Credit

Step 3: Enter your mobile number and the code

Step 4: Take a photo of your valid ID and upload

Step 5: Take a selfie

Step 6: Enter the required info

Step 7: Follow the other instructions and wait for your application to be approved

You only need to wait for up to 3 working days before your application can be approved. If it was not approved, Lazada will state the reason and you can apply again.

How to Use Lazada PayLater

Now that you’ve been approved for Lazada PayLater, it’s time to use it. Here’s how:

Step 1: Select the item you want to buy and make sure that there’s a LazPayLater option available
Step 2: Tap Buy Now

Step 3: Beside the Select Payment Method,select View all methods

Step 4: Confirm the LazPayLater option and tap Place Order

Step 5: You can select the installment plan such as 1 month pay later for 0% interest or the 3, 6, 9, 12 monthly installment plans

Step 6: Payment success

How to Pay Lazada PayLater

When it comes time to pay your LazPaylater credit, follow the steps below:

Step 1: Open your Lazada app and go to Account

Step 2: Tap LazPayLater Credit

Step 3: Select Pay Now

Step 4: Select payment method such as credit/debit card, Lazada wallet, and GCash e-wallet.

Step 5: Payment success

LazPayLater vs. SPayLater

Lazada offers LazPayLater but Shopee also offers SPayLater. How do the two services compare? Let’s see:

Interest Rate1% – 5%1% – 5%
Credit LimitUp to P15,000Up to P50,000
Payment termsPay the following month: 0% Interest and 2, 3, 6, and 12 monthly installment plansPay the following month: 0% Interest and 3, 6, 9 and 12 monthly installment plans
Processing feeNone1.25% per month on 3-month and up installment plans
ApplicationWithin the appWithin the app

The two services almost have the same features with a few minor differences. The most notable one would be the credit limit with Shopee being higher.


Can you cash out LazPayLater?

No, you can’t cash out LazPayLater. It’s a credit service offered by Lazada so users can purchase items using installment.

What items can’t you buy with LazPayLater?

You can purchase any product in Lazada except the following:

  • Digital goods (Mobile load, eVoucher, Gift cards etc.)
  • Fine Jewelry

Some users can use the service to pay for bills. But the most important thing to note is that LazPaylater must be available as an option for the item.

Why don’t I have LazPayLater?

As of now this service is only available for pre-qualified users. If you want to avail of LazPayLater, keep making purchases, avoid cancellations and update the app.

How to increase your LazPayLater limit?

There’s no way to ask for a credit increase for now. Lazada will automatically offer credit limit increases based on your credit score and other factors.

Final Thoughts

Sometimes we want to shop but our pockets don’t allow us. LazPayLater is a great service for users who want to satisfy their shopping needs and wants.

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