DNP Launches C to C Transaction Service

Dai Nippon Printing Co., Ltd. (DNP) will launch a transaction service facilitating simple and safe sales trades between consumers (C to C), with the Company mediating transactions as a third party to ensure safe and secure trades.

The new service will be launched on July 10, and will use an iOS dedicated smart phone application, with an Android version planned for October.

Service Launch

There is an increased need for good quality recycled goods given the growing trend for consumers to be more budget-minded. Auction site proceedings take time, however, and it may also be difficult for consumers to find just what they are looking for at flea-market type venues.

To overcome these challenges, DNP has developed a service facilitating safe transactions by boosting communication between buyer and seller, allowing them to match each other's needs without an unnecessary time lag, in an optimum C to C format.

Service Flow

The new service mainly targets adults who enjoy outdoor pursuits such as sports with friends and family. Users visit the service website at http://entry.kururiapp.jp (currently offered in Japanese only), where the smart phone application can be downloaded free of charge.

The buyer posts a request on the website, such as, "What do I need if I want to get involved in water sports," for example.

In answer to the request, the seller posts photos and additional explanatory requests of the goods they are looking to offer.

DNP supports optimal C to C transactions that satisfy both buyer and seller through the communication exchange involved in making the request and offer,.

DNP also temporarily holds the proceeds of the transaction in escrow via a contracted payment agent. The proceeds are released to the seller after the buyer has received and confirmed the legitimacy of the goods. By acting as an escrow service, DNP intermediates the C to C transaction, which helps to reduce disagreements between the parties.

No charges are incurred for member registration, requests, offers or the placing of items for auction, however, DNP receives a commission of 10% of sales price when the transaction is closed.

As the new service begins with the needs of the buyer, and introduces product information tailored to those needs, not only can the buyer reduce the amount of time spent searching for the desired goods, but the seller can also be certain that their goods are going to someone who will value them. As a result, this is a service that helps consumers reduce waste disposal of goods they no longer need.

Application Features

Request functions, offer functions: Functions for matching goods placed at auction by sellers with those requested by buyers. It is also possible for users other than those who made the original request to purchase goods.

Search function: It is possible to search for desired products from among those on sale via category, brand, event or other keyword searches.

Communication function: Comments about goods can be posted and a favorites list created.

Transaction and settlement function: In this new service, the seller sets the price. The buyer makes a request, which the seller approves to set the transaction into motion. Settlement is currently by credit card only.

My page function: Manages the status of transactions, including "open for bidding," and "under consideration." User information can also be managed.

Notices: Facilitates the viewing of information related to goods placed for auction and transactions. Critical transaction-related information can be delivered in a server-push format, or via e-mail to support smooth trades.  

Forward Looking Developments

DNP will promote people-to-people communication, the provision of ecosystems where goods are used with care for the long term, and the creation of a sharing economy market by establishing a venue for the gathering of surplus assets that people no longer use. The Company aims for a total of 1.0 billion yen in sales by FY 2017.

Looking ahead, DNP will offer an Application Programming Interface (API) to companies looking to enhance settlement methods, introduce escrow delivery services (payment on delivery and/or anonymous delivery), and the functions entailed in the new service. The Company will also promote tie ups with media companies, as well as hosting collaborations and events.

 

* Product prices, specification and service contents mentioned in this news release are current as of the date of publication. They may be changed at any time without notice.