Mercari has created an Instant Pay feature, which can transfer money extremely quickly. Verified sellers are able to transfer money from their Mercari balance to another debit card within minutes. Users can transfer up to $500 a month, with a transaction fee of two dollars. The company's head of communciations Bradfor Williams stated that the Instant Pay feature is a first for the industry. The company is focused on rolling out the feature to those who sell goods as on the side, as opposed to those who make living selling consumer goods.
The Instant Pay feature requires a debit card to complete the platform's ID Check. Users can access Instant Pay through the Mercari app. Prospective users will have to present government-issued ID in which Mercari will verify.
Image Credit: Mercari