ShopeePay
“Can Shopee turn checkout-wallet ubiquity in Southeast Asia into a full consumer-credit and SME-financing franchise under the Monee brand?”
Founded2015
HQSingapore
IndustryFintech / Digital wallet
The story
ShopeePay is the payments-and-wallet arm of Sea Group's e-commerce platform Shopee, sitting alongside SeaMoney's broader consumer-finance products. The wallet started as a Shopee checkout option and expanded to offline acceptance (QR), SPayLater BNPL, and SME lending (SLoan/Quick Funds). In 2024–2025, SeaMoney's credit/financing legal entities across the region were rebranded to 'Monee', signalling consolidation of consumer credit, wallet, and merchant payments under a single fintech brand built atop Shopee's distribution.
Product timeline
2015
Shopee launches e-commerce platform in Singapore under Sea Group.· launch
2019
ShopeePay digital wallet rolled out across Southeast Asia under SeaMoney.· banking
2020
SPayLater BNPL service introduced for Shopee buyers.· lending
2024
dLocal partnership expands ShopeePay payin/payout coverage across TH, MY, ID, PH.· partnership
2025
SeaMoney entities rebranded to Monee (e.g., Monee Capital, Monee Credit Singapore) operating SPayLater and SLoan/Quick Funds.· pivot
Regulated entities
1
regulatory licence held by ShopeePay
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in ShopeePay’s embedded-finance stack
Payments / PSP
Banking / BaaS
in the full report
Lending
in the full report
Open banking
in the full report
FX & payouts
in the full report
Accounting gap: significant
10 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.