Online Pawnshop PawnHero: In the pursuit of helping the underprivileged sector of the society, PawnHero. Southeast Asia’s first online pawnshop, will launch this week.
PawnHero is the first platform in Southeast Asia inspired by the concept that worked well in mature markets like UK and US where online pawnshops iPawn.com,Pawngo.com, and Borro.com operate.
This startup will exhibit distinctions from the traditional brisk pawnshop businesses. As it will accept pawning on gadgets, electronics and luxury handbags. It also comes with an easy process as the trader needs only to post a photo of the valuable he wishes to pawn, and in minutes will receive an estimate for the item. The trader may opt to have his item picked up by PawnHero’s logistic partner – 2GO or drop it off at any of the over 900 affiliated 2GO outlets nationwide. It is very convenient, as it will eliminate the need to show up at physical outlets that can be awkward and uncomfortable for some.
“We provide an easy, fair, and convenient way of overcoming short-term cash needs. This is a completely new way of doing business in the industry,” says chairman and co-founder David Margendorff.
“You need not have a bank account. We will provide you with a free PawnHero Card. A debit card you can use at any ATM nationwide, shop at any Bancnet accredited merchant, or online store. Your money will be deposite to your account immediately after we have received and appraise your item. Packages are fully insure and shipping is on us,” explains Margendorff.
“When it’s time to redeem your item. You may simply contact one of our customer representatives or use your PawnHero Card to pay for your loan and the company will ship back the item to you. Again fully insured and free of shipping charges. It’s a more convenient solution than eBay or OLX since you wouldn’t need to research the price for your item or create an ad or wait for a potential buyer. We’ll take care of everything, even shipments,” boasts Margendorff.
Margendorff says consumers may also sell their valuables to the platform and eventually. The platform will launch an ecommerce feature to sell unclaimed loaned items at affordable prices.
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