Monobank has launched a “monobazaar”: how it works
8 December 16:17
Monobank has launched a new service that will allow customers to sell their belongings – monobazaar. This was announced by the bank’s co-founder Oleg Gorokhovsky in his Telegram channel, "Komersant Ukrainian" reports
“Now our clients will be able to sell their unnecessary (or necessary) things on the mono-market,” he wrote.
What is a mono marketplace and why is it already called “OLX at minimum wage”?
According to Gorokhovsky, monobazaar is an internal marketplace of the bank, where:
- users can sell unnecessary or new items,
- any product can be bought in parts,
- all sellers have already been verified by the bank, which reduces the risk of fraud,
- the seller’s profile can be designed as a personal showcase and shared on social media.
“It’s a kind of OLX on the minimum wage (for now),” he said.
The service is in test mode: what is the commission?
monobazaar is open for testing to all bank customers.
Commission:
- until January 8 – 0.1%,
- after the full version is launched – 1.9%,
- the buyer pays only for delivery.
monobank encouraged users to test the functionality and send feedback so that the team could improve the service.
Unique features of monobazaar: what makes it stand out among other platforms
1. Purchases in installments
Any product can be paid for in installments through monobank, which makes purchases more affordable.
2. Full verification of sellers
Since all users are already identified through the bank, the risk of fraud is much lower than on classic marketplaces.
3. Personal showcase
Everyone can create their own seller page and share it on social media or with friends. Followers will receive updates.
4. AI assistant for filling in the description
Artificial intelligence automatically creates a long product description based on a short seller’s request, for example: “iPhone, 80% battery, broken screen”.
5. Automated bidding
Buyers can offer their price, and sellers can accept or reject the offer.
6. Secure payments
The seller receives the money only after the buyer picks up the goods from the branch. If the goods are not suitable, the money is returned to the buyer, and the goods are returned to the sender.
7. Sales for charity
Until January 8, you can sell items marked “charity”:
- the funds will go to support the Charter Brigade of the National Guard,
- monobank will double the amount of the donation.
