Earlier this week Trade Me launched a new payment system, called Pay Now.
This allows sellers who use Buy Now to accept credit card payments directly on Trade Me.
As a buyer this means that you can complete your purchase entirely within Trade Me – no need to wait for payment instructions and then pay via internet banking.
As a seller it means you get instant notification of payment and delivery addresses, plus it opens up a whole new payment option. The fees to sellers are cheaper than most would be able to get if they setup their own merchant account with their bank.
Currently only sellers with over 500 feedback can register (if you’re one of those lucky ones you can register now). Expect to see that limit drop in time.
Look out for the new icon on listings:
It’s a massive improvement. For example, this really adds an extra dimension to the DVD category changes we made earlier in the year. You can now browse by title (or director, or actor, or whatever takes your fancy), choose a price/seller you like, buy and pay for it all on Trade Me, without having to mess around with bidding, emails back and forth with the seller, internet banking, etc.
This is something that has been “under development” for a while, so great to see it launched and used in anger.
Bonus: Lance (who also worked with us at Trade Me) has his own take.