Carousell, a leading recommerce marketplace headquartered in Singapore, has unveiled new features that could reshape how Hong Kongers engage in secondhand transactions. On August 14, Carousell introduced secure payment and delivery options within its app, a move that aims to make secondhand shopping not just easier, but safer.
For years, buyers and sellers have navigated a handshake economy, often relying on bank transfers, cash on delivery, or, in Hong Kong, third-party apps like PayMe or FPS. While functional, these methods left room for doubt. Would the item arrive as promised? Would payment be made smoothly?
The new update addresses these concerns head-on. By partnering with AlipayHK and SF Express (Hong Kong), Carousell now lets users in Hong Kong pay directly through the app and arrange for tracked deliveries. This system seamlessly integrates with Carousell’s “Buyer Protection” feature, holding payments until buyers confirm receipt, ensuring both parties uphold their end of the deal.
This move in Hong Kong is reminiscent of Carousell’s earlier introduction of CarouPay in Singapore in June 2018. CarouPay, developed with DBS, Stripe, and Visa, was the platform’s first integrated payment system, allowing users to pay within the app using DBS PayLah! or credit and debit cards. Like the new Hong Kong features, CarouPay was designed to bolster transaction security by coupling it with Buyer Protection, holding funds until the buyer confirmed receipt—an effective measure against online scams.
But Carousell’s latest initiative isn’t just about improving the user experience—it’s also deeply connected to environmental goals. Hong Kong, a city under increasing pressure from a looming waste crisis, needs circular economy practices more than ever. Carousell is stepping into this gap. The government’s waste blueprint emphasizes reducing waste and increasing recycling, and Carousell is doing its part. In December 2023, the company released its first “Circular Economy Impact Report,” revealing that over half of the purchases on its marketplace replaced the need for new items, helping to avoid more than 116,577 tons of carbon emissions in categories like fashion, electronics, and home goods.
![Singapore President Tharman Shanmugaratnam (center) was in attendance at Carousell’s launch event of its inaugural “Circular Economy Impact Report” on December 8, 2023. Alongside him, from left to right, are: Gaurav Bhasin (chief strategy officer), Marcus Tan (co-founder), Quek Siu Rui (co-founder and CEO), and Lucas Ngoo (co-founder).](https://console.kr-asia.com/wp-content/uploads/2024/08/Carousell-Circular-Economy-Impact-Report-1024x733.jpg)
The timing couldn’t be more appropriate. Hong Kong’s economy is slowing, with exports increasingly prioritized over domestic consumption. As living costs rise and uncertainty grows, more people are turning to secondhand goods—once seen as a compromise but now recognized as a smart, sustainable choice.
This trend is also fueled by a growing environmental awareness among Hong Kongers. According to a report by Hong Kong’s Consumer Council, nearly 40% of consumers are concerned about the environment, and many understand that their consumption patterns impact it. The report also notes that 75% of respondents associate sustainable consumption with waste reduction. This concern is translating into action, with many Hong Kong consumers willing to pay a premium for sustainable products, particularly those that enhance safety and efficiency.
In a city where waste is piling up and wallets are tightening, Carousell’s latest move is not just a response to the times but a nod to the future and a bet that Hong Kongers are ready to embrace a more sustainable way of living.