Monobank has launched an innovative service for trading used items called monobazaar. Starting December 8, it is available in beta for all bank customers. This was announced by co-founder Oleg Gorokhovskiy via Telegram.
"We are launching monobazaar. Now our clients can easily sell their old or new items. It's like OLX in a simplified format (for now)", he stated.
This service allows purchasing items in installments, and all sellers have been verified, significantly reducing the risk of fraud, Gorokhovskiy noted.
He also shared some features of the service. Artificial intelligence helps save users' time by "filling out a detailed product description on your behalf; you only need to input a few words like 'iPhone, 80% battery, scratched screen'.
"Moreover, we believe that most conversations during purchases involve haggling, which also wastes time. Thus, we have automated the negotiation process – you can propose a price, and the seller will see your offer and decide if they are willing to sell at that price. No more unnecessary dialogues!", he mentioned.
"Additionally, the seller will receive payment only after you pick up the item from the post office. If you decide you don't like the item, your money will be refunded, and the package will be returned to the sender", Gorokhovskiy added.
According to him, the commission for any sale until January 8 will be 0.1%, and after the testing period, it will be set at 1.9%. When making a purchase, you will only need to cover the shipping cost.