I love the idea of turning old gear and devices into cash for a new computer, a flight or other major purchase I might not have had the budget (or excuse!) to pull the trigger on right now. Trade-in programs can be a huge win-win for consumers and retailers -but- unless you have the scale of an Apple or ATT it’s hard to contemplate how you’d set up and manage a consumer trade-in program yourself.
Now, wanna watch me implement a customer trade-in program to any e-commerce store in less than 5 minutes? Well it’s Friday again, and I’m doing fintech demos. Lets go.
Today I’m taking Canadian fintech darling SELLIT9 for a test drive, and their just -launched their “Sellit9 Trade” product. It’s a fully-managed service that lets consumers trade-in used electronics for immediate store credit at the participating merchant. On the merchant side, the integration is surprisingly painless, esp if you are on Shopify where you can enable Sellit9 Trade with one click in the app store. Operationally, the app rides the rails of existing coupon code methods, so there’s no requires no changes to existing payments processors or checkout flows.
Watch the demo as I mess around with setting it up on a mock store, then run through the consumer experience.
As a payments nerd though, I’m always excited to see the emergence of new forms of tender like BNPL and now Trade-ins-as-service. Like BNPL, Trade-ins are an effectively magic-up additional spending power for consumers. But unlike BNPL, more sustainably and without the issues of debt repayment.
High-growth space, excellent product execution, led by a great team of serial founders Josh Guttman & Oswaldo Alvarez these are all the reasons I originally partnered with Sellit as an advisor and seed investor. If you want to give them a test drive yourself, or get an intro to the founders, drop me a PM.
Building at the intersection of Ai, Payments & Fintech
