With Wallapay, Wallapop wants to get into the increasingly congested sector of mobile payments.
Wallapop has become one of the best options for second-hand buying and selling; by focusing on creating an easy-to-use mobile app, where we can find anything we need, or sell it if we no longer want it.
This service has turned out to be so popular that even giants like Facebook have tried to copy it. However, this may be just the beginning for Wallapop; especially when it comes to money transfers.
Wallapop gets into money transfers
Until now, Wallapop has only served to connect two strangers; as a kind of virtual street market, as it defines itself. Allows you to post ads with descriptions, photos, prices and location; The rest of the process is carried out by the users themselves.
However, a new update in the iOS version has revealed that Wallapop wants to go further; who wants to participate in the sale and purchase by facilitating money transfers. So is born Wallapay, Wallapop’s payment service.
There isn’t much information about it yet, we only have a few screenshots shared by the network; but it is enough to give us an idea of what to offer. The idea is simple, instead of having to go with money to pick up the item we are looking for, we can pay directly with the mobile.
In this way, transactions will be more secure and direct, no need for last minute hagglingThe seller will receive authorization for payment and each will go their own way.
How Wallapay Works
Wallapop take away a commission, which ranges from 0.99 to 6.99 depending on the amount to transfer; commissions start at 40 and go up to 500. It is unclear what happens to transfers over 500, although it is perfectly possible that this is the limit of the service.
To pay with Wallapay, we will have to introduce our credit card; something quite simple and in line with other similar services. On the other hand, if we are going to sell and we want to admit Wallapay, we will have to configure our account with a bank account number.
Wallapop presents Wallapay as a way to make sure we are dealing with trusted users; For the company and the service, it is surely an important step, but the question is how many of its users will want to use it. At the moment it is only reaching iOS users, with no news for the Android version.