FREQUENTLY ASKED QUESTIONS
WhY is being Cashless so Important?
Vendr was created with the idea that safety and efficiency should be the foundational goals of any local marketplace. We want both the sellers and the buyers to focus only on the products and not the methods of exchange.
- Never have to carry cash to meet with a stranger - whether it's a 20 dollar item or a $4000 used card. A criminal has few incentives to assault or rob a customer that isn't carrying cash.
- Can maintain transaction histories and records
- Are able to transact with the person next door as if they were purchasing an item from a retail store
- Will always know that an incoming customer has the full amount of funds needed to pay for an item (since the money is in escrow with Vendr)
- Will always be paid the full amount - no last-second bargaining and negotiating
- No need for alternative forms of payment, e.g. cashier's checks, Western Union, PayPal (and the fraud that comes with them)
- No need for payment gateways and/or card readers like Square - they can accept credit cards and debit cards as payments immediately
- Can maintain transaction histories and records
What does it mean to reserve an item?
Reserving an item means that we place a hold on the total amount on whichever payment method you choose to use. It also means that the item is now being held for you - so you don't have to worry about anyone else swooping in and grabbing it at the last minute.
You can think of this as putting your funds in escrow while you go through the process of arranging a time to see and pickup the item. If you decide during a pickup (or even before) that you don't want to continue, simply tap a button in the app and the hold is removed immediately. It is only when you decide to complete a purchase (by tapping a button in the app) that the reservation hold becomes an actual charge.
What makes audio and video so important?
We are the only local marketplace to offer integrated audio and video. Our video and audio calls will come straight to your phone and connect just like a regular phone would - except their is no personal information ever being exchange between the callers. You can use voice calls to learn more about products and arrange meetings - anything you would ask/do with a regular phone call.
With video, you can immediately and easily request product demonstrations from sellers. They say a video is worth a thousand pictures, and we agree. In seconds, you can tell if a product is worth the trip/time to purchase it. It really is like a one-on-one FaceTime call, with one major caveat: only the customer can see the seller and their product. The seller does not get a video stream of the customer.
WHAT IS The VENDR Catalog PROGRAM?
The Vendr Catalog program allows anyone to turn their house/office into a budding business. We have compiled a variety of products (mostly electronics, house goods and some clothing) into a catalog that our Vendrs (cheesy, we know) can then resell on Vendr locally. Most of our catalog products are well under the market prices, which allows our Vendrs to acceptably mark up the prices and resell the products. Our Vendrs become micro-distributors who cater to their community - without having the overhead of a full-time business.
Is Safety Really an issue when buying and selling locally?
In the United States, there were over 74 reported incidents linked to Craigslist that resulted in violence... in one month. Three of these incidents resulted in death while another eight carried a threat of violence. As of January 2016, 101 murders have occurred because of Craigslist and several murders have been attributed to OfferUp. Being fully cashless, we have removed the motivation for potential criminals to assault, rob and murder buyers and sellers both.
FOR HOW LONG CAN I RESERVE A PRODUCT?
For as long as both you and the seller are okay with it. If for some reason the seller isn't responding or you changed your mind, simply cancel the reservation. On the other hand, if a customer seems like they won't come to pickup the item, you can cancel a reservation as a seller too.
DO I NEED TO GIVE OUT MY PHONE NUMBER?
With Vendr, the one and only time you will ever need a phone number is upon creating an account. Even then, we only use the phone number to send a verification text to your phone. Your phone number (or email) will never be needed again. You will not (and should not!) have to ever give a seller or a buyer any personal information ever again. Even your name is masked on the system - we use usernames instead of real names. Simply talk, chat, communicate and arrange everything and anything related to a purchase through Vendr.
Is Vendr Free?
Vendr is free to sign up and use. Once you complete a sale as a seller, we charge a flat 5% fee + 0.25 cent fee. Why? Well, 3% + 0.25 is going to the credit card processing companies. 1.5% goes to our provider's transferring service. That leaves 0.5% for us. But we are okay with it - we just hope you enjoy using the product and that we can keep making it better and better.
That's it, no other monthly fees, overheads or any hidden costs. It's as simple as it gets.
How fast are funds from sales transferred to my Bank Account?
Funds from sales should show up in your bank account within 30 minutes of the sale. In some cases, your bank may hold the funds for up to 24 hours. This usually happens if your account is new, the transaction amount was large, or your daily transfer threshold limit was reached. If this is the case, please do not panic - your funds are safe and will be usually available by the next business day. In the event that there is an unusual delay, please contact us at email@example.com.
CAN I USE IT ANYWHERE IN THE US?
Yes, you can buy and sell products anywhere in the United States. We are currently exploring entry into Canada, Mexico, New Zealand and Sweden.