Alibaba Group's (NYSE: BABA) C2C e-commerce site Taobao recently added a face-to-face trading function called "Jian Yi Jian" to its online and mobile C2C second-hand goods trading platform Xianyu, and specified new usage rules for the function in its updated Xianyu operating guidelines.
Jian Yi Jian was launched by Xianyu earlier this month, and the platform is considering ways of adding more interactive content in the future.
A buyer interested in a product can ask the seller to conduct a "Jian Yi Jian" transaction. If the seller agrees, the two parties can then discuss various details through a chat window in the app. Once the two parties have decided on a time, they will meet in person and the buyer will scan a code generated by the seller. Once the scan is complete and payment is made, the transaction will be marked as "complete." If a buyer fails to make payment within three days of their arranged meeting time, the transaction will be automatically terminated and the sale will be canceled.
In addition to the new feature, the latest Xianyu operating regulations also add some additional market management measures.
Once the rules go into effect, merchants selling infant food products, milk powder, health supplements, alcoholic products, pre-packaged foods, and type-2 medical devices will not be able to engage in transactions on the platform unless they demonstrate the necessary licensing credentials.
Xianyu will also view virtual items such as "accounts, online gaming stored-value cards, virtual equipment, and in-game currency" as "high-risk products and information," and may take measures to limit the platform operating rights for users transacting in such products, depending on the nature of the offense.
The new rules will go into effect on January 10.
Editor's Note: For more information on this topic, please see "Alibaba's C2C Second-hand Goods Trading Platform, Auction Business to Merge," MD 5/17/16 issue.