P2P Finance Site Plans Powersports Integration in 3Q

SAN FRANCISCO — Trusted.Sale, a cashless platform that allows individuals to pay for and finance items in peer-to-peer transactions, plans to onboard powersports and recreational vehicles in the third quarter, Founder and Chief Executive Paul Brobson told attendees at Auto Finance Innovation 2018 in early March.

The two-year-old company is relaunching its website, he added.

The website has 875 users — in auto and other sectors — and works by allowing sellers to accept payments via credit card, debit card, and automated clearinghouse through secure direct-deposit to their bank account.

Trusted.Sale suggests buyers and sellers meet at designated “safe zones,” such as local law enforcement stations, to exchange vehicles; it then issues a copy of a fully executed bill of sale to both parties after the transaction settles.

This article originally appeared in the monthly Powersports Finance Update newsletter. To view previous issues, click here.

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