Result: "Instant Pay" is an industry-leading feature
Although there was limited marketing for "Instant Pay" when it launched, the product exceeded expectations with an adoption rate of 27%, which is more than 5 times the anticipated adoption rate.2 Within 5 months, Mercari saw 10 times more sellers than expected seeking to become eligible for "Instant Pay".6 Repeat usage is high, with over half of each month's sellers returning to use the "Instant Pay" option.3 Sellers are happy with the ability to spend their funds right away. They value the fast access to funds enough to pay the $2 fee per use of the "Instant Pay" option. As a result of this successful solution, Mercari is becoming known as an innovator in the industry.
"Out of all key product features released in 2019, Instant Pay was voted in the top third in making selling easier," says Shida Schubert, Vice President of Product at Mercari.
Mercari was one of the first online consumer-to-consumer marketplaces to offer push-to-card payments, thus meeting sellers' need for fast payments. Their "Instant Pay" option has resulted in high adoption rates and many satisfied sellers.