Written by The Trade Me Team in General
at 10:21 am, Mon 7 May
We wanted to get in touch with some news about Pay Now, the service that allows sellers to accept credit card payments for sales on Trade Me.
What has changed?
The Pay Now fee discount for Top Sellers has been tweaked today to align with the other discounts that apply to the Top Seller programme. As a result, the fee paid by Top Sellers on payments received via Pay Now has increased to 1.65%. This is a discount of 15% on the standard fee of 1.95% paid by other sellers.
Yes, the Seller terms and conditions for Pay Now have also been updated. You can view these here.
I’m a seller. Why should I consider using Pay Now?
Pay Now provides you with several benefits, including:
- Speediness: 68% of Pay Now payments are made within 60 minutes of an auction closing, and 87% within 24 hours. And because you know who paid for what and when, you can ship the goods ASAP.
- Tidiness: No more trawling through bank statements and relying on buyers tapping in reference numbers alongside payments. With Pay Now, Trade Me's automated systems do a lot of this fiddly work for you.
- Buyers love it: Pay Now speeds up payment, communication and shipping. Many buyers will only purchase listings offering Pay Now.
- Safety: Pay Now provides more protection than payments by cash or via internet banking because we can track both auction and payment details. We also have systems in place to reduce the risk of credit card fraud, so you won’t lose out if a fraudster uses a credit card to buy your goods.
What does the future hold for Pay Now?
We’ll be developing and enhancing Pay Now over the next few months. We expect this to include streamlining the payment transaction process, and we’re also keen to add Pay Now to our mobile platforms so members can use it to buy and sell goods via their smartphones and tablets.
Find out more about Pay Now