LetGo Research Documents


1		Craigslist	eBay	PayPal	Venmo	Amazon Marketplace	Etsy	AirBNB	OfferUp

2	Safety of sale / transaction	- About section for Scams and Fraud (examples of scam posts, says not to give out personal info including paypal, see rule number one) - About section for Safety (provides stats, tips, and resource links) - About section for Privacy Policy (data used only for site improvement - never used for ads or 3rd parties) - Number one rule: "Deal Locally Face to Face"	- complete section for protecting your account including contact information - thorough security section for posting safety, privacy safety, rules and policies, customer support, ways to report fake accounts and theft	There’s a large “Security” page that describes paypal as “Your Personal Fort Knox.” -Fraud Prevention -Bank details aren’t exposed (only paypal login) -Purchase Protection -Refunds -24/7 support	- "Venmo uses data encryption to protect" customers - "Venmo is designed for payments between friends and people who trust each other. Avoid payments to people you don't know, especially if it involves a sale for goods and services (like event tickets and Craigslist items)." - "We don’t permit merchants to make sales via Venmo, nor do we offer buyer or seller protection."	- Payment is made through Amazon who will disburse funds to third party seller.	- Etsy uses encrypted SSL technology and stores information in a PCI comliant environment. Data is not shared b/t buyers and sellers. - Etsy covers buyers for the full purchase price and original shipping costs.	-"Trust + Safety" page that explains their high safety standards. Sellers (hosts) have "Verified ID", "Profile + Reviews", and "Messaging" to ensure trust and confidence in the user/buyer. -24/7 support from AirBnB -Buyer adds credit card on a “secure platform” -FAQ about safety tips	- Offers separate "Safety" pages for buyers and sellers which act as a resource for how each can best protect themselves during the transaction.
3	Flow of payment process	Dependent on agreed upon terms of seller and buyer	Paypal, Paypal credit, all major credit cards	-There are several flows depending on how it is used. One of the simplest flows is “To get paid, someone must send a payment to your email address. We'll send you an email at that email address to let you know you have a payment. To receive your payment, you must open a PayPal account and confirm that email address.”	- Customers use their debit card or credit card to send money to friends on Venmo, but not to receive it. Money received first goes into the user's Venmo balance. To transfer this balance to the bank, users must add it using their online banking username and password or the routing and account number.	Payment for the order may be processed immediately, instead of when the order is shipped. Amazon will disburse the funds to the third-party seller but never pass along the user's payment information.	- Customers enter credit/debit card or can use PayPal.	-Buyers enter a payment method (credit/debit card only) and save to their account. Once buyers find a place they like, they can see the price breakout including all fees, and all they have to do is click “Request to Book.” Once the seller accepts their request, the buyer’s card is charged.	Dependent on agreed upon terms of seller and buyer, usually cash
4	Pain Points of transaction	- Possibility of scams - Safety issues - Not credible - no laws to protect transaction unless contract generated	- Possibility of scams from multiple buyer accounts that don't intend on paying - Unreliable sellers - Hidden Fees	-Paypal has limited or froze people’s accounts after a large transaction, even if it wasn’t fraudulent -Paypal has been hacked before	- Customers have to link personal banking information to service. - Funds do not go directly into a user's bank account, they must schedule a transfer to the account to receive the funds.	- Shipping Info may not be received. - Amazon appears to have a hands-off approach until it becomes a serious issue. - Process of obtaining a refund/return may pose an issue.	- Etsy appears to have a hands-off approach and can only be contacted through e-mail. - Shipping info may not be received. - Refund process may be an issue.	-Buyer's card is immediately charged once the seller accepts the reservation. In order to get a refund of deposit, they have to contact the seller.	- Possibility of Scam - Personal Safety Issues
5	Positives of transaction	- Convenience - Your terms - Different options	- many digital payment options - ability to view sale and buyer feedback - ability to add your own feedback after a sell or purchase	-Quick and easy -Sense of security because it’s been around for a long time and is used all over -When paying with paypal on a 3rd party site, you only need your paypal login info--no bank details or credit card information is exposed	- Easy, convenient - Ability to pay friends and family imported from your contacts	- Possibility of obtaining an item at a lower price than Amazon. - Obtaining an item not currently available from Amazon. - Ability to buy used items.	- Obtaining "one of a kind" items - Majority of items are specific to Etsy	Easy, quick, convenient.	- Convenience - Your Terms - Messaging b/t two parties is available within the app - Offers Profile Pages for Sellers containing a Seller Rating and a Personal Photo. (Sellers can also rate buyers) - Offers TruYou program for Sellers in which they scan their ID, which OfferUp validates, providing another level of security for buyers which ensures that they are dealing with a legitimate party.
6	Transaction Recommendations for Client	- add option to prepay and allow for refund/money back should transaction not complete face to face	"- Members are not allowed to interfere with another member's transaction. - Members may not contact a seller and offer to purchase a listed item outside of eBay. - Members are not permitted to email buyers in an open or completed transaction to warn them away from a seller or item. If you have a problem with a transaction, please use the feedback forum and review our Fraud Protection Program."	- seller and purchase protection - offers Payflow for merchants	- Ease of payment. - Option to connect Credit Card or Bank Account	- Since Amazon is not directly involved in the completion of third-party sales, they encourage users to contact sellers directly regarding: Order / Shipment Status, Schedule or Reschedule Services, Cancel an Order for Refund, Return an Order. - For disputes, with a third-party seller, Amazon A-Z Guarantee will step in to assist.	- Etsy states that customers are "not buying directly from Etsy" but from its sellers. They encourage buyers to contact sellers directly. - Etsy offers buyers the ability to "open a case" if the issue escalates	-Sellers having verified accounts with reviews and contact info. FAQ and support from the company.	Scan of site does not show the possibility for customers to contact OfferUp if an issue is unresolvable b/t buyer and seller. Resolution of dispute appears to be strictly b/t buyer and seller.
7	How much of a role does the business play in sales?	company provides platform/forum for participants to buy/sell/trade	- provides different polices and guidlines in order to protect buyer and seller. - allows seller and buyer opportunity to reach eBay and dispute transactions ("case"). - has ability to restrict, limit, or suspend seller accounts that do not meet seller guidelines. - provides feedback system to allow users make their own buying decisions.	- offers tips and guidelines - offers products and services - offers resolution center - only applies fees when requesting check, using credit card to transfer funds, and receiving money for goods or services	- Ability to freeze account if does not meet user agreement - Ability to file dispute with Venmo support	- Amazon provides a platform for sellers to offer their items to Amazon customers, an already large network.	- Etsy provides a platform for sellers to offer their items to communities. - Offers products for merchants and sellers - Offers wholesale - Offers gift registry	- offers different polices - disaster response - Resolution Center	Only provides platform for sellers to showcase products.
8	Service Fees?	All craigslist postings are free, except for: Job postings in selected areas—$15-75 (fee varies by area) Brokered apartment rentals in New York City area—$10 Therapeutic services in the United States—$10 (reposts of live ads $5) Tickets by-dealer in the United States—$5 Cars/trucks by-dealer in the United States—$5	50 free listings a month an .30 after for auction style only. Fee refunded back after sale. Final fee is 10% of the total amount of the sale Maximum fee is $750	Buying is free. Selling is a 2.9% fee + 30 cents per transaction	- No fees if through debit card or checking account. - 3% fee for payments by credit card.	- "Referral" rate is dependent upon the type of item being sold, and range from 6% - 45%, and charge a $1 "referral fee" for certain categories. (http://www.amazon.com/gp/help/customer/display.html?nodeId=1161240)	- 3.5% transaction fee	-3% service fee for every completed reservation.	(Will contact Danny)
9	Timeline of payment to seller from beginning to end	Dependent on agreed upon payment terms btwn seller and buyer	- make purchase - 4 days to send payment - seller can extend payment schedule - seller may open a case if payment is not made within 4 days up to 32 days - cases must be closed by day 36 - unpaid item case expires on day 37	- Dependent on agreed upon payment terms btwn seller and buyer - Dependent on funds within connected accounts and/or PayPal balance	Dependent on agreed upon payment terms btwn seller and buyer	- Funds are automatically transferred from a seller's "Amazon Seller's Account" to their bank account every 14 days. - Seller's are allowed one request every 24 hours to their bank account. - "Transfer of funds will be initiated once Amazon Payments concludes that it is no longer necessary to hold funds to cover chargebacks, refunds, A-to-z Guarantee claims, or other claims against your sales transaction."	- Dependent upon payment methods accepted: Payment will be in the seller's Shop Payment Account on Etsy, their PayPal account, or mailed to the address on file.	-Seller received payment 24 hours after check-in	Dependent on agreed upon payment terms btwn seller and buyer
10	Payment Method	Dependent on agreed upon payment terms btwn seller and buyer	Credit/Debit or PayPal	Allows you to pay with: - PayPal balance - Instant transfer from bank - PayPal Credit - Credit - Debit - echeck	- bank account - credit card - debit	Amazon Payment Service	- Credit cards Debit/Bank cards - Etsy gift cards - Apple Pay - PayPal - iDEAL (from buyers in the Netherlands) - Sofort (from buyers in Austria and Germany) - By mail - Other (tips offered if buyer and seller agree to outside payments)	- Major credit cards and pre-paid credit cards - Debit - PayPal - Alipay (China) - Postepay (Italy) - Sofort Überweisung (Germany) - iDEAL (Netherlands) Boleto Bancário - Hipercard, Elo, and Aura (Brazil) - Google Wallet (US Android) - Apple Pay for (iOS App)	Dependent on agreed upon payment terms btwn seller and buyer
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