Marketplaces like Gumtree and Facebook Marketplace are becoming increasingly popular; and one of the first places people think of to sell second-hand items. These online marketplaces focus on person-to-person transactions, and this new way of trading is continuing to see rapid growth.
This trend has seen Pay It Later identify a gap in the market to provide payment solutions to Shoppers. This has inspired the brand-new Pay It Later P2P offering, which will allow both Buyers and Sellers to purchase and sell in these marketplaces with Buy Now Pay Later!
We are getting the new P2P feature ready to launch very soon… In the meantime, we are giving you the ultimate step-by-step guide to using the new app – keep reading to find out more!
Navigating the App
P2P makes buying and selling easier than ever with our easy to navigate app. Once you have completed the sign-up process, you will arrive on the app homepage, which gives you an overview of your spending limit, balance, current owing amount and total orders.
The new P2P feature will also be included on the homepage. The four new features will appear at the top and can be used as follows:
- Scan: Buyers will click here to scan the QR code generated by the Seller to make a purchase.
- Receive: Sellers will use this feature to generate the QR code for scanning.
- Wallet: Where the Sellers funds will be available to withdraw after seven days.
- Top Up: This feature will be relevant with our exciting new feature, coming soon!
How It Works
Once you are happy with your chosen product and ready to buy, the Buyer will click the “Receive” button, add the price and a description, and then the QR code will be generated.
The Buyer will then click the “Scan” button and scan the QR code from the Seller’s device. The Buyer’s payment plan will then appear, and once it is accepted, the first payment will be processed, and the transaction has been successfully completed.
The three remaining instalments will be deducted in subsequent weekly payments. These amounts can be viewed and paid on the app, making it easy for Buyers to stay on top of their payments!
Where Can I Use It?
The Pay It Later P2P feature can be used for purchase from online marketplaces like Gumtree and Facebook Marketplace. However, the feature can also be easily used to purchase items from your friends, colleagues, or neighbors!
Want to Find Out More?
Check out our P2P webpage to find out more about how and when P2P is available!