Same-day payments deliver triple-digit growth for Manchester-based musicMagpie

The launch of a same-day payment scheme has led to a sharp rise in tech trade-ins for re-commerce firm musicMagpie.co.uk.

The Manchester-based company, which provides an online platform for reselling items such as smartphones, laptops and games consoles, has seen trade-ins leap year on year by 164% since October 2015.

The triple-digit growth follows the launch of Faster Payments, the company’s new same-day payment service for customers seeking a quick cash injection.

Since the feature went live in October last year, musicMagpie said it has released more than £15m for over 300k customers.

The firm’s marketing director, Liam Howley, commented: “From using the money to help with everyday expenses such as grocery shopping, to using the cash to fund unexpected payments, or even just to treat themselves for decluttering their homes, we’ve seen that more customers than ever are trading in their old items to make their cash go further.”

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