Monobank has unveiled a new service called monoбазар for trading used items. Starting December 8, the platform is available in beta mode for all bank customers. This was announced by co-founder Oleg Gorokhovskiy via Telegram.
"We are launching monoбазар. Now our clients can sell their unnecessary (or needed) goods easily. It's like OLX, but in a simplified version (for now)," he stated.
The service allows for installment purchases, and all sellers have been verified by Monobank, which significantly reduces the risk of fraud, Gorokhovskiy added.
He also shared some features of the service. For instance, artificial intelligence saves customers time by automatically filling in long product descriptions. You only need to provide a few words like "iPhone, 80% battery, scratched screen".
"Additionally, we believe that most purchase dialogues are just negotiations that waste time. So we automated the bargaining process – you can propose a price, and the seller will see it and decide whether to accept. This means no unnecessary conversations!", the post reads.
"Moreover, the seller will only receive payment once you pick up the item from the post office. If you check the item and decide it’s not for you, the money will automatically return to you, and the package will go back to the sender," Gorokhovskiy explained.
According to him, the commission for any sale until January 8 will be 0.1%, and after testing, it will be 1.9%. During the purchase, customers only need to pay for shipping.