Mercari launches small loan service that can be returned with sales-Interest rates fluctuate due to Mercari usage record

On August 3, Mercari decided the interest rate and usage limit on the smartphone payment service “Mercari” of the flea market app “Mercari” based on the usage record of Mercari, and the application and usage are completed within the app. Announced that it will start offering “Merpay Smart Money”.

This service uses only the “Mercari” app to complete the process from application to examination and use, and there is no need for store visits or paperwork procedures that are performed with general loan services. The examination takes about a few minutes. After passing the examination, it will be credited to the Mercari balance. It can be used as a merpay or withdrawn to a bank account.

  • Left: repayment simulation at the time of application, right: repayment outlook in use

According to a predetermined examination based on the usage record of “Mercari” for each user, it can be used in the range of 1000 yen to 200,000 yen, and the interest rate fluctuates from 3.0 to 15.0% per year. For users who are doing polite transactions and users who are selling a lot, the maximum amount will increase and the interest rate will decrease.

You can also repay with “Mercari” points and sales, and you can change the repayment plan such as monthly repayment date and repayment amount on the app at any time. “We will provide a highly flexible money lending service and eliminate the discrepancy in recognition of repayment plans with users,” explains Keisuke Nobukawa, director of Mercari.

Furthermore, in order to increase the transparency of the service, the applicable interest rate and repayment outlook are displayed on the app before application, and the total repayment amount including interest is displayed even while using the service. In addition, instead of the general loan method (extreme loan) in which the usage limit is determined by one application, the examination is conducted for each usage (certificate loan), so the usage limit will change to suit each user.

In April 2019, Melpay began offering the postpaid payment service “Melpay Smart Payment,” which uses a similar mechanism. In July 2020, we added a function called “Melpay Smart Payment (Fixed Payment)” that allows you to pay in installments from the following month onward.

The usage limit of “Merpay Smart Payment” is determined not by the credit based on the attribute information used in the general financial system, but by the credit based on the usage record of “Mercari”, etc. It is said that the system is widely used mainly by young people who have difficulty receiving credit.

By launching “Merpay Smart Money”, the company has expanded the range of use of “Merpay” even in situations where daily cash usage is required, and even users who have difficulty receiving credit using only attribute information can use it. Aim to realize easy-to-use financial services.