The e-commerce giant, Shopee, yesterday implemented changes to their transaction fee costs, which caused discomfort to sellers across its platform.
Shopee set the transaction fee adjustment to be increased to 3.5% effective August 1, 2024.
An increase from 2% before means that the total cost that will be borne by the seller is around 15% of the price of the goods.
This situation will encourage sellers to raise the price of items sold on the platform to cover the costs incurred.
Previously, Shopee's transaction fee was calculated at 2.12% (including tax) of the final order amount paid by the buyer before 'Shopee Sponsored Discounts'.
Shopee will automatically deduct the transaction fee from the payment to the seller when the order is completed.
The commission will be charged to all sellers whether local sellers or supermarket sellers (Mall).
This action is to cover the costs charged by the payment gateway service provider company.
