Hoolah Malaysia no longer exists. If you are looking to integrate it as a merchant payment option, it stopped accepting new applications in 2021 and the consumer app shut down in August 2022. Here is what hoolah offered Malaysian ecommerce sellers, what replaced it, and which BNPL providers are operational in Malaysia today.
What Was Hoolah Malaysia and How Did It Work for Ecommerce Sellers?
Hoolah was a buy now pay later (BNPL) platform that operated in Malaysia from 2019 to 2022. It allowed shoppers to split purchases into 3 equal interest-free monthly instalments while merchants received the full payment upfront, minus a merchant discount rate. ShopBack acquired hoolah in November 2021. The consumer app ceased operations on August 15, 2022.
Launched in Singapore in March 2018, hoolah expanded to Malaysia in 2019 with an initial focus on fashion, beauty, and lifestyle ecommerce. The company positioned itself as a “responsible affordability” platform — not just a payment method, but a tool to reach the segment of Malaysian shoppers who wanted to spread purchases over time without credit card debt.
By the time ShopBack announced the 100% acquisition in November 2021, hoolah had grown to over 2,000 merchant partners across Singapore, Malaysia, and Hong Kong, including Charles & Keith, Zalora, FashionValet, Bonia, Focus Point, and Pestle & Mortar. The platform had served over a quarter of a million shoppers across the region.
The merchant experience was straightforward. A customer reached checkout and selected hoolah as their payment option. Hoolah’s system approved the customer in seconds using its internal credit scoring. The customer paid the first instalment at checkout. Hoolah paid the merchant the full order amount minus its merchant discount rate (MDR), typically within 1-5 business days. The customer then repaid hoolah in two more monthly instalments. Merchant credit risk was zero — if the customer defaulted, hoolah absorbed the loss.
For Malaysian sellers, hoolah’s marketing claimed that merchants offering its BNPL option saw 20-30% increases in average order values and 10-15% reductions in cart abandonment, per hoolah’s merchant case studies at the time. FashionValet publicly stated that hoolah accounted for approximately 15% of its orders after enabling the service, per a 2021 Vulcan Post report.
The timeline of events for merchants:
- 2019: Hoolah launches in Malaysia, targeting fashion and lifestyle ecommerce
- November 2021: ShopBack completes 100% acquisition of hoolah
- August 15, 2022: Hoolah consumer app ceases operations
- August 2022 onward: Merchant integrations migrated to ShopBack PayLater
- March 22, 2024: ShopBack PayLater discontinued
How Much Did Hoolah Charge Malaysian Merchants?
Hoolah charged Malaysian merchants a merchant discount rate (MDR) typically in the 2.5-5% range per transaction. Rates were not publicly listed and required merchant application. Settlement ran T+1 to T+5 business days. The MDR varied by product category, monthly transaction volume, and negotiated terms.
Hoolah never published a public rate card for Malaysia. Based on merchant community reports at the time, the following ranges applied:
| Order Size | Estimated MDR | Settlement |
|---|---|---|
| Below RM 200 | 3.5-5% | T+3 to T+5 |
| RM 200-1,000 | 2.5-4% | T+2 to T+4 |
| Above RM 1,000 | 2.5-3.5% (negotiated) | T+1 to T+3 |
These are estimates from merchant community reports; hoolah did not publish official fee schedules. Fashion and beauty categories typically carried higher MDRs than electronics or home goods.
For context, here is how hoolah’s historical rates compared to the BNPL providers currently active in Malaysia:
| Provider | Status | MDR | Instalments | Min Order |
|---|---|---|---|---|
| Hoolah | Shut down Aug 2022 | 2.5-5% (est.) | 3 monthly | RM 50-100 |
| Atome | Active | 4-5% | 3 payments / 2 months | RM 20 |
| GrabPay PayLater | Active | 3-4% | 4 bi-weekly payments | Varies |
| SPayLater | Active | ~1.5% + Shopee fees | 2-6 monthly | N/A (Shopee only) |
MDR rates for active providers are indicative as of June 2026. Verify current rates directly with each provider before applying.
At a glance, hoolah’s fees were broadly in line with Atome’s current rates. The difference now is that Atome is operational with active Shopify and WooCommerce plugins, while hoolah is not.
What Were the Pros and Cons of Hoolah Malaysia for Ecommerce Sellers?
Hoolah’s main advantages were zero merchant credit risk, instant consumer approval, established merchant penetration in Malaysian fashion and lifestyle, and platform-agnostic Shopify and WooCommerce integrations. Its primary drawbacks were negotiation-only pricing, smaller consumer reach than embedded competitors like Shopee or Grab, and the discontinuation risk that ultimately materialized in 2022.
Pros
- Zero credit risk for merchants. Hoolah paid the full transaction amount upfront minus MDR. Merchants were fully protected against customer defaults — the credit relationship was entirely between the consumer and hoolah.
- Established merchant network in Malaysia. Strong penetration in the fashion, beauty, and lifestyle segments that dominated Malaysian online shopping between 2019-2022. Brands like FashionValet, Bonia, and Pestle & Mortar used hoolah as a conversion tool for high-consideration purchases.
- Instant consumer approval. Customers were approved in seconds via hoolah’s internal credit scoring system. No lengthy credit application, no documentation, no waiting period.
- Direct Shopify and WooCommerce integration. Unlike GrabPay PayLater, which required a gateway intermediary, hoolah offered direct plugins for both Shopify and WooCommerce, making onboarding straightforward for independent ecommerce stores.
Cons
- No published pricing. Hoolah’s MDR was not available without applying to be a merchant. Sellers could not compare costs before committing to the onboarding process.
- Smaller standalone consumer base than embedded competitors. Grab and Shopee had significantly larger existing user bases in Malaysia. Hoolah’s consumer reach depended on its standalone app, which had lower penetration than payment options embedded in super-apps.
- Platform risk materialized. The ShopBack acquisition followed by the March 2024 discontinuation of ShopBack PayLater demonstrated exactly the risk of building reliance on a standalone BNPL provider. Merchants that had built prominent hoolah integration points into their checkout had to remove them entirely.
- Limited market outside fashion and lifestyle. Hoolah’s Malaysian merchant base was heavily concentrated in fashion, beauty, and accessories. Sellers in electronics, furniture, or household goods had less evidence of hoolah’s conversion impact in their specific categories.
Deciding whether BNPL makes financial sense for your store’s margin? Our buy now pay later guide for Malaysian ecommerce sellers covers the fee-to-conversion calculation for each active provider, with worked examples by product category.
Which BNPL Providers Can Malaysian Ecommerce Sellers Use Instead of Hoolah?
The three BNPL options available to Malaysian ecommerce sellers in 2026 are Atome (4-5% MDR, Shopify and WooCommerce plugins), GrabPay PayLater (3-4% MDR, available via iPay88 or Fiuu gateway integration), and SPayLater (approximately 1.5% add-on for Shopee sellers only). Each suits a different sales channel, product category, and platform.
For sellers who previously used hoolah and need a working replacement, here is how the current options compare.
Atome Malaysia
Atome is the closest operational equivalent to what hoolah offered for independent ecommerce stores in Malaysia. It operates across Malaysia, Singapore, Indonesia, the Philippines, Thailand, Vietnam, and Hong Kong.
How it works: Customers split purchases into 3 interest-free payments over 2 months. Approval is instant via the Atome app.
Merchant fees: 4-5% per transaction in Malaysia. Rates are negotiable for merchants with higher monthly volumes.
Integration: Shopify app, WooCommerce plugin, API for custom platforms. Merchant verification and setup typically takes 1-2 weeks.
Settlement: T+2 to T+5 depending on merchant tier.
Minimum order: RM 20 in Malaysia.
Best for: Independent ecommerce stores on Shopify or WooCommerce in fashion, beauty, electronics, or lifestyle categories with average order values between RM 150-1,500. If you used hoolah on a Shopify or WooCommerce store, Atome is the most direct like-for-like replacement.
GrabPay PayLater (Malaysia)
GrabPay PayLater uses Grab’s existing user base across Southeast Asia. Customers split purchases into 4 bi-weekly payments through the Grab app.
Merchant fees: 3-4% per transaction — lower than Atome, though GrabPay PayLater has a smaller dedicated ecommerce footprint than Grab’s core business.
Integration: Available as an add-on through iPay88 or Fiuu payment gateways — not available as a standalone merchant integration separate from a gateway.
Settlement: Follows the underlying gateway’s settlement schedule, typically T+3 to T+7 through iPay88.
Best for: Sellers already using iPay88 or Fiuu who want to offer BNPL without managing a separate provider relationship. The lower MDR of 3-4% compared to Atome’s 4-5% can be meaningful at higher transaction volumes. Strong fit if your customer base overlaps with regular Grab app users — urban professionals aged 25-40.
SPayLater (Shopee Malaysia)
For sellers operating on Shopee Malaysia, SPayLater is the lowest-friction BNPL option: no separate application, no technical integration, and the lowest add-on fee in the market.
Merchant fees: Approximately 1.5% on top of standard Shopee seller fees. Total fee burden including Shopee commission and payment processing can reach 10-15% depending on category.
Integration: Automatic for all Shopee sellers. SPayLater appears as a payment option to eligible buyers with no merchant-side action required.
Best for: Shopee sellers, particularly in electronics, fashion, and home goods where orders above RM 200 are common. The ~1.5% add-on is far lower than standalone BNPL providers, though the total Shopee fee stack is higher than running an independent store with Atome.
For a complete side-by-side comparison of all three providers including settlement times, return policies, and consumer eligibility requirements, see our best payment gateways Malaysia guide.
Is Hoolah the Right BNPL Choice for Your Malaysian Ecommerce Store?
Hoolah Malaysia is not an option for ecommerce sellers in 2026 — it shut down in 2022. For independent stores on Shopify or WooCommerce, Atome is the most direct replacement. For sellers already using iPay88 or Fiuu, GrabPay PayLater offers a lower MDR. For Shopee-native sellers, SPayLater requires no integration and carries the lowest add-on fee.
The verdict depends entirely on your sales channel.
If you ran a Shopify or WooCommerce store and used hoolah to offer 3-instalment payments, Atome replicates that experience most closely — same instalment model, same platform support, similar MDR range. The TechCrunch analysis of the ShopBack-hoolah acquisition noted that hoolah’s main value was its merchant-first onboarding, and Atome has inherited that market positioning in Malaysia.
If your primary concern is cost, GrabPay PayLater’s 3-4% MDR is 1 percentage point lower than Atome’s 4-5%. On RM 100,000 in monthly BNPL-enabled sales, that difference is RM 1,000/month. The constraint is the gateway dependency — you need iPay88 or Fiuu already set up.
If you are a Shopee seller, SPayLater’s automatic availability at ~1.5% add-on makes it the obvious choice. No application, no integration, no separate merchant account. The higher total Shopee fee stack is a separate discussion about whether your product category is better suited to an independent store.
What no Malaysian ecommerce seller should do in 2026 is continue operating with legacy hoolah payment widgets in their checkout. Those integrations stopped working in August 2022. Remove any hoolah payment options still showing on your product or cart pages and replace them with a live provider.
For the full BNPL fee comparison and integration guide for the Malaysian market, start with our buy now pay later hub.
Frequently Asked Questions
Is hoolah still available in Malaysia?
No. Hoolah Malaysia ceased consumer app operations on August 15, 2022, following ShopBack’s 100% acquisition of the company in November 2021. The merchant platform was migrated to ShopBack PayLater, which was subsequently discontinued on March 22, 2024. As of 2026, no part of the hoolah platform is operational in Malaysia for merchants or consumers.
What were hoolah’s merchant fees in Malaysia?
Hoolah charged Malaysian merchants a merchant discount rate (MDR) typically in the 2.5-5% range per transaction, based on merchant community reports. Hoolah did not publish a public fee schedule — rates required merchant application and varied by product category, monthly transaction volume, and negotiated terms. Settlement ran T+1 to T+5 business days depending on merchant tier.
Which BNPL providers replaced hoolah for Malaysian ecommerce sellers?
The three main BNPL options for Malaysian ecommerce sellers in 2026 are Atome (4-5% MDR, Shopify and WooCommerce plugins), GrabPay PayLater (3-4% MDR, available via iPay88 or Fiuu), and SPayLater (approximately 1.5% add-on for Shopee sellers only). Atome is the closest replacement for independent stores that previously used hoolah’s direct integration.
What happened when ShopBack acquired hoolah?
ShopBack completed a 100% acquisition of hoolah in November 2021, with both companies’ founders citing complementary user demographics and aligned BNPL strategy. The hoolah consumer app shut down on August 15, 2022, and active merchant integrations were migrated to ShopBack PayLater. ShopBack PayLater was subsequently discontinued on March 22, 2024.
Can I still integrate hoolah on my Shopify or WooCommerce store?
No. The hoolah Shopify plugin and WooCommerce integration were deactivated when the consumer app shut down in August 2022. Any legacy hoolah checkout widgets on Malaysian ecommerce stores are non-functional and should be removed. Atome provides Shopify and WooCommerce plugins with the same 3-instalment model and is the recommended replacement for stores on those platforms.