And a Marketplace is born..
Over the last couple of weeks we have released series of updates to coupconnect . These are coming soon to our iphone app as well.
Here are the highlights
Marketplace - Remember all those expired vouchers, what if you could have sold them? This is the biggest enhancement, you can now sell and buy vouchers on coupconnect.
When you add a provider (groupon, livingsocial etc) all your vouchers for each deal you purchased are synced with coupconnect (active, expired, redeemed)
Adding new providers (Groupon, LivingSocial etc) is much faster.
You can now view/print your vouchers on website.
And a few little things that we did to make things nicer.
Now let's take a look at how the marketplace works. When you take a look at your deals you'll find that some of them will have a sell button on them. This only happens for deals that have not yet expired and you've owned then at-least for a month (we might change this in future but it's a month for now, if you want to know why it's helps with fraud prevention).
When you click sell, we ask you for your paypal account details so we can transfer the money when your deal sells. If you've already provided this info then the deal is immediately listed in the marketplace.
Now you can help sell this by getting the word out about this deal, It's most likely that your friends like similar deals so go back to "My deals" and Post on Facebook (Feel free to tweet, and post on any other social networks but we built in support for facebook for starters).
And here's what gets posted on your profile, you can obviously customize the text but if someone clicks on this it takes them directly to the marketplace where they can add it their cart.
And now we move on to the purchase step. A click on that story will take them here..
Ok, so then they add it to their cart..
What's that fine print??? That just us telling the purchaser that they will have two transactions showing up in their account, one where they give money to CoupConnect and the other to the seller. They are still purchasing at the facevalue but the transaction is split right up front to pay the listing fees to CoupConnect. If you're wondering, the listing fees are 10% for CoupConnect at this time.
And both CoupConnect and the seller pay the paypal transaction fees, you'll see these in the emails sent by paypal.
But we digress and the user can complete the purchase using paypal and they will see the coupon transferred to their account and the money transferred to the seller and coupconnect.
Here's what the email to the seller looks like:
And this is what is sent the the buyer
And here is the paypal email for the transaction to the seller.
And there you have it, the magic of the CoupConnect marketplace demystified. What we're trying to do is make it possible for people to buy deals worry free and not waste them when they're unable to use them. And there's a lot more in store that we're furiously working on, besides these features making it to the iphone app.
So checkout the marketplace, watch this space, tell your friends, and keep using CoupConnect.
