Turvamaksut.fi on solminut yhteistyösopimuksen tunnetun alustakauppapaikan kanssa ja lanseeraus on lähiviikkoina. Näkymät ovat markkinoilla varsin lupaavat, sillä kuluttajien vertaiskaupankäynti on pitkään ollut kasvussa siitäkin huolimatta, että riski huijatuksi tulemisesta nostaa kynnystä sekä myyntiin että ostamiseen.
Thanks to the Turvamaksut.fi payment brokerage service, private individuals can trade with confidence, and platform marketplaces benefit from the service in meeting tax authorities’ reporting requirements.
The growth trend in the volume of money transfers between individuals is expected to accelerate further as ecological choices become more popular. The challenging economic situation is contributing to consumers’ interest in the circular economy. Indeed, there is great potential in money transfers between consumers, and the service was built based on a clear need. This is evidenced by the fact that competitors have also entered the market.
Competitive advantage from your own development work
Tuomas Hovi, the COO of Turvamaksut.fin, is confident in the success of the service in the market and lists its strengths as ease of use, competitive price, and speed of payment processing.
“Unlike our competitors, we did not take the service directly from an existing payment intermediary, but instead looked for suitable partners to be responsible for different aspects of the service. This allows us to offer a fast, easy-to-use and cost-effective service to our customers. For example, we are able to transfer the purchase amount to the seller on the same day the buyer has accepted the product, both on weekdays and weekends.”
“Our earnings are based on commissions and basically every single transaction is profitable, as the volume increases the profitability of an individual transaction also improves. The trading volumes are large enough overall that even a small portion of this is already a really profitable business.” Hovi continues.
“The service will be openly available in the near future. A well-known large platform marketplace has signed a cooperation agreement and we already have high expectations for this. We are investing in acquiring new partners and after the launch the service will be freely available to consumers, whether they trade on Facebook’s Market Place or on some hobby site.”
The scalability of the service creates opportunities for large volumes
According to Hovi, the payment brokerage service can be easily scaled beyond Finland’s borders.
“The intention is to launch the service in Finland in the near future with our partner. After that, we will quickly head to the Swedish and Norwegian markets. We have received approval from the financial supervision for our operating model, so in other countries, minor formalities are sufficient to launch the service.”
Turvamaksut.fi is based on diverse expertise, from coding and sales to business management. Tuomas Hovi emphasizes the importance of this in refining the service in the future, and the team will be expanded.
“The development of the service continues and our team also sees other applications in the service idea, for example customized solutions for partners.”
The trend of trading moving to platform services increases opportunities for business growth. The regulation also requires reporting from trading platforms, as the tax authorities require reporting of transactions. Turvamaksut.fi offers a ready-made solution for the needs of trading platforms.
Additional information
Tuomas Hovi, COO, Safe Payment Group, tuomas.hovi@safepaymentgroup.com
Johan Backas, Chairman of the Board, Safe Payment Group, johan.backas@startuplions.fi