Mike Tyson helps debut 'price fighting' e-commerce platform
A boxing legend is partnering to help launch a new online marketplace where selling fees go back to customers.
Heavyweight boxer Mike Tyson is teaming up with online shopping platform ChaChing to introduce Price Fighter powered by ChaChing, a digital retail platform that redirects a portion of selling fees back to customers.
Sellers using the Price Fighter soluton pay flat 5% platform fee for ChaChing and then decide what they're willing to pay per sale and only pay when a sale happens. By redirecting seller fees, ChaChing can cover a portion of each shopper's purchase up to $500 per user, per month for a total maximum of $6,000 a year per customer in savings.
"Big Tech takes a huge cut of every sale," said Tyson. "With PriceFighter powered by ChaChing more goes back to the customer. For merchants it's the same selling price, the same net margin—but in these times when families need every dollar, they'll love you for giving them their money back and not giving it to trillion-dollar companies."
The platform is free to join and also offers tools to protect sellers’ public pricing and ensure they comply with regulations such as minimum advertised price. Sellers determine how much money they want to return to shoppers from their fees (up to the maximum) and ChaChing facilitates getting cash back refunds to customer bank accounts or debit cards within days.
In addition, when a buyer sends an item back, ChaChing immediately credits its fee back to the retailer. And a crowd-powered pricing model means that the more shoppers who use the platform, the better the deals become, even retroactively.
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Sellers can sign up online and approval comes within 48-hours, then retailers may import their catalog with plug-and-play tools.
"On Amazon, the combined referral fees, cost per click costs and other fees can top 50% or many third-party sellers," said Max Sugrue, ChaChing founder & CEO. "ChaChing caps its fees at 5%, saving merchants huge amounts on every order and turning those dollars into cash back for consumers. The money is either going to a trillion-dollar company, or to a hard-working American family. We all know where it belongs."
