Monobank Launches Used Goods Selling Service

Monobank has launched a new service for selling used items called mono marketplace. Starting from December 8, it is available in beta testing for all bank clients. This was announced by co-founder Oleg Gorokhovsky via Telegram.
"We are launching the mono marketplace. Now our customers can sell their unnecessary (or necessary) items on the mono market. It's like a simplified OLX," he wrote.
The service allows anything to be purchased in installments, and all sellers are verified through mono, significantly reducing the chances of fraud, Gorokhovsky reported.
He also shared some features of the service. The artificial intelligence saves clients' time by "automatically filling out a lengthy product description, and you only need to provide a few words like 'iPhone, 80% battery, scratched screen'.
"Additionally, we believe most of the purchasing dialogues involve negotiations, which waste time. Therefore, we automated the negotiation process – you can make an offer, and the seller will see it and decide whether to accept your price. No more unnecessary dialogues!", he said.
"Moreover, the seller will only receive payment once you pick up the item from the post office. If you check it out and it doesn't suit you, the money will be refunded back to you, and the package will be returned to the sender," Gorokhovsky explained.
According to him, the commission for any sale until January 8 will be 0.1%, and after testing, it will be 1.9%, with only delivery costs needing to be paid at the time of purchase.