Vinted Pay rolls out wallet solution

Vinted has started rolling out its own wallet solution through Vinted Pay (its dedicated payment business), marking a key step in the company’s mission to make second-hand the first choice worldwide.

Vinted Pay is a dedicated payments platform designed specifically for Vinted members. After obtaining an electronic money institution licence from the Bank of Lithuania in 2023, Vinted launched Vinted Pay to make payments on the platform smoother and more efficient.

Vinted Pay is now rolling out its own wallet solution to Vinted members, meaning that when sellers successfully sell items on Vinted, funds are transferred to a wallet. Sellers can use these funds for purchases on Vinted or withdraw to their bank account. The service is currently available in Lithuania, Latvia, Estonia, Finland, Greece, Slovakia, Slovenia and Croatia, with plans to expand to additional countries soon.

Modestas Tursa, VP of Payments at Vinted, stated, "By developing an in-house payment solution, we aim to address the unique needs of our members and stay agile in responding to evolving market demands. This ensures a better experience for our members and a greater operational efficiency."

Vinted will continue to collaborate with other payment service providers to ensure secure and seamless payments for Vinted members. Members being migrated to Vinted Pay’s wallet will receive information on updates and next steps through notifications in the app.