How is it legal to shop using Paylater? This is the Word of a Lecturer at UM Surabaya

16 May
2023

Ilustrasi Shopee Paylater (suara.com)

How is it legal to shop using Paylater? This is the Word of a Lecturer at UM Surabaya

In the midst of the flow of information technology whose pace is getting faster, the popularity of online shopping through e-commerce is increasing. With innovation in information technology in the field of finance or financial technology (fintech) in the process of facilitating the process of making financial transactions more practical and secure. One of them is product diversification into the realm of credit financing in online transactions.

The Buy Now Pay Later (BNPL) feature, also known as the paylater. BNPL is a service that facilitates consumers to pay for a transaction at a later date, either by paying once or by installments. This method is certainly an attractive alternative payment option for people who have a limited budget.

Arin Setyowati UM Surabaya Sharia Banking Lecturer said, various types of e-commerce have collaborated with fintech to apply for loans through the Paylater feature including; Gopay, OVO and various market place companies such as Traveloka, Shopee, Kredivo and so on.

Arin explained, the various installment periods in PayLater in an e-commerce, one can choose installments starting from 3 times, 6 times and 12 times. The handling fee is 1% per transaction, the minimum interest rate is 2.95% of the total payment amount. The late payment fee is 5% per month of the total bills that are due.

Arin explained, research conducted by Kredivo and Katadata in June 2022 showed that the reasons for users choosing paylater as an online transaction payment method were flexibility (56%), ease of access in obtaining credit (55%), and safety because it was integrated with e-commerce that had been registered and supervised by OJK (51%).

This PayLater facility is regulated in article 1 No.3 Regulation (PJOK) No: 77/POJK.1/2016 concerning information technology-based money-lending services. Supported by other terms and conditions that apply, for example related to sanctions if the user has not fulfilled or paid the bill, then the e-commerce account can be frozen and the user cannot make purchases using the PayLater feature anymore.

In addition, late payments can affect a person's credit rating at SLIK OJK (Financial Services Authority Financial Information Service System) and field billing will be carried out.

"Based on the Fatwa of the National Sharia Council (DSN) of the Indonesian Ulema Council (MUI) East Java Number 04 of 2022 concerning digital transactions with the PayLater system, it has been decided that the paylater system uses a qard contract or accounts payable in which there are legal interest provisions, which are illegal and the contract is invalid. , because it includes usury,” said Arin Tuesday (16/5/23)

However, if there is no interest provision in it, only rational administration, the law is permissible.

Meanwhile, the Paylater system that uses a direct sale and purchase contract to a Paylater provider that is paid by credit is legally permissible, even though the price is relatively more expensive than the cash price. As well as transacting with Paylater users is allowed as long as it is not clear that the contract between the user and the Paylater provider is a contract that is forbidden.

Arin also added that according to the view of the Sharia Economic Law Compilation on the use of PayLater, it is included in the articles relating to qardh contracts as stipulated in article 20 paragraph 36 and articles related to qard contracts including in articles 606, article 607, article 608 , article 609 and article 611 Compilation of Sharia Economic Law.

The PayLater feature is said to be usury when there is an element of ziyadah or additions required in advance by the PayLater issuer to its consumers. Included in the type of usury debt that is forbidden.

“If the PayLater feature charges an additional fee, then it is not usury. Provided that the additional costs are counted as services or ijarah," concluded Arin

Tags: paylater simpanpinjam hutang hukum pidana