THENOLD.com marks a significant evolution in payment processes compared to its predecessor, NOLD.bg. The new platform introduces modern payment methods, a smoother user experience, and improved incentives for buyers and sellers alike. Here’s a breakdown of the key differences between the two systems. All payments are processed via Stripe*.
Payments on NOLD.bg
1. Cash on delivery only
On NOLD.bg, payments were managed entirely offline through cash on delivery. While simple, this approach often caused problems when buyers placed orders but didn’t collect them from the courier office, leaving sellers responsible for paying delivery fees both ways.
2. Courier-based transactions
Payments were managed directly by the courier service (e.g., Speedy), and sellers received their earnings via the courier after delivery.
3. No commission
Sellers did not pay a platform commission when listing or receiving payments. However, if buyers used a credit or debit card to pay at the courier office, a small processing fee applied.
Payments on THENOLD.com
1. Platform-based payments
THENOLD.com introduces a streamlined, platform-based payment system, allowing buyers to complete purchases using Apple Pay or credit/debit cards. This eliminates the inefficiencies of cash on delivery and ensures transactions are secure and immediate.
2. Seller earnings and commissions
• No listing fees: Sellers can list unlimited items on THENOLD.com without paying a fee.
• Earnings structure: Upon a successful sale, sellers retain 90% of the item’s price in cash, which is deposited directly into their bank accounts. Alternatively, sellers can opt for 100% of the sale price as store credit.
Important: If a buyer pays for an item but fails to collect the shipment, the return cost will be deducted from the item’s price.
3. Store credit benefits
Store credit can be used to shop directly on THENOLD.com or with brand partners. For instance, if you sell a BY FAR bag for €100, you receive €100 in your NOLD wallet, which can be used at byfar.com as BY FAR is currently a partner. This innovative approach encourages seamless reinvestment in the platform’s ecosystem.
4. Modern payment methods
With Apple Pay and credit/debit card payments, THENOLD.com supports global users and eliminates the risks associated with offline payment methods.
Why the Change Matters
By moving away from cash-on-delivery and integrating platform-based payments, THENOLD.com reduces missed transactions, accelerates payouts, and creates a more professional and efficient resale marketplace. With the added flexibility of store credit and brand partnerships, the platform empowers users to maximise their earnings and enjoy a more rewarding experience.
Explore the new payment system on THENOLD.com today and see how it transforms your buying and selling journey!
*Stripe is a leading online payment processing platform that enables businesses to accept payments securely and efficiently. It supports a wide range of payment methods, including credit and debit cards, Apple Pay, and other digital wallets, ensuring smooth transactions for both buyers and sellers. Known for its robust security measures, Stripe helps businesses handle payments with ease while minimising fraud risk.