Business

OLX launches its digital wallet: OLX Pay

It's only available for devices with Android operating system

OLX is a leading site to buy and sell used products in Brazil. Photo: Shutterstock
  • The new service will be tested at first only in Campinas, a city in the Brazilian state of São Paulo;
  • OLX Pay allows payments of up to BRL 500 for purchases and BRL 2,000 for sales per month

Online marketplace OLX Brazil officially launched its digital wallet, OLX Pay to tackle competition against Mercado Pago, from Mercado Libre. The new service will be tested at first only at the region of Campinas, in Brazil, for strategic reasons, according to Mobile Time. There are plans for expansion, but the company didn’t disclose places or dates.

Photo: OLX/ Courtesy

The new payment option allows transactions and withdrawals. The activation is free. OLX Pay allows payments of up to BRL 500 for purchases and BRL 2,000 for sales per month. According to OLX, it guarantees the purchase protection payment to the seller and the possibility of a chargeback for the buyer.

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The feature only accepts Visa and Mastercard credit cards issued in Brazil. It’s also only available for devices with Android operating system and people with an active account on OLX. The payment method allows installments of up to 12 times on credit card.

In Brazil for ten years, OLX has been encouraging a new model of consumption, which is more democratic and conscious, encouraging the culture of attachment and detachment. Now, with OLX Pay, our users will be able to count on an even more accessible and secure buying and selling experience, since both negotiation and payment can be carried out directly through the OLX app chat simply and quickly. Our expectation is to make life easier for online sellers and buyers in the Campinas region even more.

Janet Barieva, Chief Product Officer at OLX Brazil

OLX Pay with Purchase Protection

According to the company press release, all transactions paid through OLX Pay will have the platform protection service, which ensures for the seller the receipt of payment and for the buyer the possibility of returning and reversing the payment, if necessary.

After arranging delivery via chat, there is a period of up to 10 days for the buyer to receive the product. If it doesn’t happen, or there are problems with the product, the user must open a ticket. OLX will then mediate the communication between the two parties and, if the matter is not resolved, will refund the amount paid to the buyer.

Purchase regrets or food products, animals, plants, beauty and personal care items, underwear, real estate, cars, tickets, services and food supplements are not covered in the service. The resources are exclusive for items in the consumer goods categories, such as electronics, mobile phones, furniture, appliances, clothing and footwear with values ​​up to BRL 500.