OLX-developed payment service ready for rollout

07 Sep 2017

In June, Naspers classifieds CEO Martin Scheepbouwer told listeners in the financial results call that OLX was “looking to uptake” a payment solution and had been running experiments in Brazil, Ukraine, Bulgaria, and UAE. But we hadn’t seen any sign of it.

Benjamin Schneider, head of engineering at OLX since March (courtesy of Xing)

Now comes evidence it may be happening soon. Earlier this week, OLX head of engineering Benjamin Schneider, wrote in a blog post that his team has developed a global payments service known as Plutus. While the post is really about the technology stack they chose to build Plutus, Schneider sheds some light on the functionality.

Plutus operates on apps and website platforms, and enables multiple payment methods since OLX runs sites in countries where credit cards are not commonly used.

“Instead we are looking at SMS payments, cash deposits at the nearest gas station or some very niche online payment methods, that most people have never heard of,” he writes. Plutus also allows users to offer refunds and verify deposits, and it includes risk checks to reduce fraud. No word, though, on when or where Plutus will be rolled out.

Schneider joined OLX in March after four years at Paypal Germany. He works at the company’s tech hub in Berlin.

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Kate Rodriguez

Kate Rodriguez covers the German market for AIM Group. She is a freelance business writer with an extensive background in public policy, business consulting and marketing. Originally from the U.S., Kate is now based in Munich.