One of the best things about apps having their own digital wallets is that you can allocate funds every month to help you with budgeting your expenditure (GrabPay is a great example). But in the case of Carousell, their newly launched CarouPay will create a more convenient and hassle-free way of buying and selling of goods on the homegrown classified marketplace.
We’ve all heard of Carouhell stories (there’s even a Tumblr and a Facebook account dedicated to naming, shaming and blacklisting people who contribute to this hell, though both seem to be inactive now) where buyers/sellers don’t show up at the meet, buyers not transferring money in time or people just being annoyingly idiotic on the app (lowballers, we’re looking at you). But with the company’s first integrated payment system, it gets a little easier, especially for people who prefer to transact online.
Consumers can now pay directly within the app using DBS PayLah!, credit or debit cards; a feature that many have been waiting for, especially those who just can’t find the time to meet up with their buyer/seller. Sure, back then you could do bank transfers, but you’d be working on mutual trust, which could be anxiety-inducing for some.
What sellers will see
How does it work? Sellers now have the option of enabling CarouPay as a payment option when listing their items. Once a buyer has made their order, the seller has three days to accept it, followed by another three days to dispatch the item. During a transaction, Carousell will hold on to the payment. The seller will only receive this payment once the buyer indicates “item received” on the digital transaction, or a week after the delivery was dispatched.
In the case where the buyer doesn’t receive their tracked mail, they can take it up with the seller, or escalate it to Carousell itself, who will continue holding the funds until there’s a resolution. Of course there’ll be additional fees to use this new option: Buyers pay a card fee of 2% and an additional 10 cents when using credit/debit cards for payment (DBS PayLah! enjoy zero fees, while DBS & POSB credit/debit cardholders will have the fees waived only until Sep 31), while sellers pay a nominal success fee of 4.98% of the listing price and an additional 50 cents for each successful transaction (from now till an unspecified date in July, the fee will be 2.49% + 50 cents).
What buyers will see
Learn more about CarouPay here, or from their video below.
