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All Journal Jurnal Multidisipliner Kapalamada
Aufa Huwaida, Gheriya
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Religion Agriculture, Biological Sciences & Forestry Humanities Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

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ANALYSIS OF THE COMPLIANCE OF SHOPEE PAYLATER WITH ISLAMIC ECONOMIC PRINCIPLES IN DIGITAL CREDIT PRACTICES Cahyaningtias, Nabilah Auliya; Aufa Huwaida, Gheriya; Rahmadina, Alya; Jaya Putra, Budi
Jurnal Multidisipliner Kapalamada Vol. 5 No. 01 (2026): JURNAL MULTIDISIPLINER KAPALAMADA
Publisher : Pusat Studi Ekonomi, Publikasi Ilmiah dan Pengembangan SDM

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62668/kapalamada.v5i01.2294

Abstract

This study aims to analyze the compliance of the Shopee PayLater service with Islamic economic principles in digital credit practices. Shopee PayLater is a form of Buy Now Pay Later (BNPL) service that offers payment convenience to the public. The financing volume reached IDR 62.17 trillion as of March 2024. This research employs a qualitative approach with descriptive methods and literature studies. The findings reveal that the Shopee PayLater system does not fully align with sharia principles due to the presence of riba, applied through a fixed interest rate of 2.95% and a late payment penalty of 5%, as well as the absence of a clear contract (akad), indicating elements of gharar. Moreover, this service negatively impacts users' consumptive behavior, especially among university students, and diverts from the objectives of maqashid shariah, such as preserving wealth (hifz al-mal) and intellect (hifz al-‘aql). Therefore, a transformation of the PayLater digital financial system is needed toward a sharia-compliant model with clear contractual terms and free from interest.
Co-Authors Cahyaningtias, Nabilah Auliya Jaya Putra, Budi Rahmadina, Alya