Mercari’s new Instant Pay feature transfers verified sellers’ balances to their debit cards within minutes

TechCrunch | 7/16/2019 | Staff
erinmmarion (Posted by) Level 3
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For online sellers, waiting three to five days for e-commerce platforms to transfer their balance is one of their biggest pain points. Mercari is going after rivals with its new Instant Pay feature, which deposits money in a few minutes. Once sellers are verified, they can instantly transfer up to $500 per month of their Mercari balance to a debit card for a $2 processing fee.

Bradford Williams, Mercari’s head of communications, told TechCrunch in an email that the new feature is a first for peer-to-peer selling apps. “Uber and Lyft made instant payments table stakes for U.S. drivers; we’re extending that to casual sellers. Mercari U.S. is focused on casual sellers (versus power sellers); therefore, we’d like to attract sellers from all marketplaces/platforms,” he said. “Frankly, we see our biggest opportunity in influencing U.S. consumer behavior versus taking share incrementally from established competitors.”

Pay - Sellers - Debit - Card - ID

To use Instant Pay, sellers need a debit card and to register for ID Check, Mercari’s new verification system. The feature, currently available only through Mercari’s mobile app, involves uploading a government-issued ID and a selfie. Mercari...
(Excerpt) Read more at: TechCrunch
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