People will have to pay with cash after a Trade Me sale if they want to avoid a fee.

The company's removing its 7.9 percent 'success fee' for casual selling - keeping only a small service fee.

Along with Afterpay and cash, Trade Me uses its own payment system, Ping - taking just over two percent from every sale. 

Trade Me’s Head of Marketplace Lisa Stewart says bank transfers will now be against their policy.

"We've got teams of folks who scan the site to check that nothing dodgy is going on, if they catch that that kind of behaviour's happening, we'd look to educate our customers."

LISTEN ABOVE

People will have to pay with cash after a Trade Me sale if they want to avoid a fee.
The company's removing its 7.9 percent 'success fee' for casual selling - keeping only a small service fee.
Along with Afterpay and cash, Trade Me uses its own payment system, Ping - taking just over two percent from every sale.&nbsp;
Trade Me’s Head of Marketplace Lisa Stewart says bank transfers will now be against their policy.
"We've got teams of folks who scan the site to check that nothing dodgy is going on, if they catch that that kind of behaviour's happening, we'd look to educate our customers."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Lisa Stewart: Trade Me Head of Marketplace on the company scrapping bank transfers and dropping success fees

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2cf6bb20-9acf-4030-97df-b40400646e4a/transcript