Transaction Fees on TikTok Shop Malaysia 2023
Amy 12 Jan 2023 10:51EN
TikTok is very popular all over the world, and TikTok Shop is launched in Southeast Asia in 2022. Many sellers moved their business to TikTok shop to get more sales. TikTok Shop has great potential, it is not too late to start selling on TikTok Shop.
Before you start selling on TikTok Shop, you need to understand the seller fees charged by TikTok. I will let you know all fees you will be charged after you are a TikTok seller.
Transaction Fee = (customer payment - refund)* 2.12%
Examples:
For successfully placed orders, the customer payment after seller discount is RM100, platform discount is RM5, customer shipping fee is RM8, then the Transaction Fee = RM100 x 2.12% = RM2.12.
For successfully refunded orders, the customer payment after seller discount is RM100, platform discount is RM5, customer shipping fee is RM8, refunded amount is RM50, then the Transaction Fee = (RM100 - RM50) x 2.12% = RM1.06.
In this page, you can check the detailed information for each settled order and the amount you can get. If you want to calculate the profit for your TikTok orders, I suggest you use BigSeller, it will get the transaction fees and other fees from TikTok and calculate the profit for you automatically.
Before you start selling on TikTok Shop, you need to understand the seller fees charged by TikTok. I will let you know all fees you will be charged after you are a TikTok seller.
What is Transaction Fee?
After an order is successfully delivered to buyers, TikTok Shop will automatically deduct a fee from the final order or payment settlement. This fee is called Transaction Fee, it is only charged for successful orders on TikTok Shop, not for canceled or unpaid orders.Transaction Fee on TikTok Shop
Starting from 17 October 2022, the transaction fee is increased from 1% to 2.12% (DST tax included). It calculates the customer payment, the seller discount, platform discount, and shipping fee paid by the buyer, and refunded amount is not included. So the calculation for the transaction fee is:Transaction Fee = (customer payment - refund)* 2.12%
Examples:
For successfully placed orders, the customer payment after seller discount is RM100, platform discount is RM5, customer shipping fee is RM8, then the Transaction Fee = RM100 x 2.12% = RM2.12.
For successfully refunded orders, the customer payment after seller discount is RM100, platform discount is RM5, customer shipping fee is RM8, refunded amount is RM50, then the Transaction Fee = (RM100 - RM50) x 2.12% = RM1.06.
How to check transaction fees?
If you want to check all transaction fees charged by TikTok Shop, you can go to TikTok shop Finance > Settled Records > View Details.In this page, you can check the detailed information for each settled order and the amount you can get. If you want to calculate the profit for your TikTok orders, I suggest you use BigSeller, it will get the transaction fees and other fees from TikTok and calculate the profit for you automatically.
Conclusion
TikTok Shop is very popular in Malaysia now and many sellers got many sales in 2022. And the fees charged on TikTok Shop are less than other platforms. If you want to sell online, TikTok Shop is a great choice.Profit Analysis
BigSeller Profit Analysis helps you to calculate your net profit of the completed orders for Shopee, Lazada, and TikTok Shop.
