Postmates founder Bastian Lehmann joins Wealth! to discuss his new venture, Tiptop, and the unacknowledged value behind trade-ins. “It’s a new way to pay for things, maybe the new way to pay for things since the credit card. What we do is we allow you to trade in things you no longer need when you like to buy something new right at the checkout,” Lehmann says, highlighting Tiptop’s intervention in the market. He continues by explaining how the business model will generate profit: “We charge a modest fee to the merchants that participate and that integrate Tiptop on the checkout and ultimately, we hope that there is enough margin in the products that we’re purchasing from customers and that we’re ultimately going to resell.”
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