Turkey-based horizontal LetGo, a part of OLX Group, has introduced secure digital payment transaction and shipping services for secondhand goods, according to an announcement.

LetGo allied with the country’s leading domestic delivery service Yurtici Kargo for delivery of goods weighing up to 30kg in all categories. Cashless transaction is facilitated by online payment service provider Iyzico, similar to Escrow, against buyer protection fee.

The horizontal already has more than 250,000 products listed with the new services.

Founded in 2016, LetGo dropped its brand in all main markets except in Turkey following a $120 million deal with mobile-first c-to-c marketplace OfferUp last year.

LetGo always encouraged buyers and sellers to meet in-person to execute transactions.

The move came after market leader Sahibinden accelerated efforts to promote its intermediary role with a secured payment infrastructure.

Sahibinden already offers online payment and delivery services. It recently introduced payment through credit card directly on the site, a feature that LetGo hasn’t rolled out yet.

The AIM Group listed top 40 markets with transactional offerings in its 2021 Global Marketplaces report, with both companies weighing options to launch loan and payment services, respectively.

The pandemic has offered opportunities for marketplaces to scale up operation by introducing value-added services.

LetGo and Sahibinden already jumped on the bandwagon of auto transactions, which are a potential category because of surging demand of personal vehicles.

Tuluy Noyan

Meanwhile, LetGo also announced the appointment of Tuluy Noyan to lead its car operations, called OtoPlus, which launched in March.

Before joining as general manager, Noyan worked as director of Operations and Business Development at used car buyer VavaCars and on various positions at oil marketer Petrol Ofisi for more than five years. Both are part of Vitol Group, the world’s largest independent oil trader.

Noyan received his M.A. in in European Economics, Laws and Politics from Donau University in Austria in 1996. After returning to Turkey, he started his career at Garanti Bank. He then worked for a decade with household appliance manufacturer Arçelik as strategic planning, business development specialists and product manager.

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