In Finland, online classifieds have grown to be more than just listing and lead generation. In particular, the service has become more transactional. Our partner NettiX, Finland’s largest vehicle marketplace, has found a revolutionising solution to safely and securely finalise peer-to-peer transactions up to its last stages—through Digital Bill of Sale.
Through NettiAuto.com, privately owned cars are listed and showcased to private consumers. Traditionally, once both parties have decided to continue the sale, the more critical stages are done offline and separately: such as payments and transferring of documents. And, when during these crucial steps, buyers and seller encounter the following issues:
- Asking for personal information and papers can be uncomfortable and compromising.
- Acknowledging and delivering payments can be risky and uncertain.
- Documentation and transferring of ownership can be confusing and troublesome.
A New Solution for Transactional Services
NettiX has developed a new solution to avoid the above issues and promote safe and secure transactions, through OmaNettiX and Digital Bill of Sale. In OmaNettiX, parties are guided to manage the deal from the documentation of digital bill of sale to payments, while ensuring the correct information and security.
Integrated solutions such as Trafficom, Maksuturva, and Signicat are utilised for vehicle registration, escrow payment solution, identification and signatures, respectively.
How does it work:
In brief, the Digital Bill of Sale includes a safe web payment, where the buyer transfers the payment at a particular time. And the service immediately acknowledges the remittance. After which, the seller can confidently declare the transfer of ownership to the buyer. Furthermore, with OmaNettiX, the cumbersome paperwork and integration with officials are all done at ease online.
Moreover, this is a new revenue stream and method for NettiX. Aside from advertising fees made through their marketplaces, commissions or transaction fees are earned through OmaNettiX.
Indeed, NettiX has significantly developed from a lead generation marketplace to a transactional service while expanding its income source.
Image sources: NettiX and Istock