Bungaejangter's Secure Payments at 500 Days: 95% Fraud Drop, Transactions Double

## Bungaejangter's Escrow 'Safe Payment' Reaches 500 Days... 95% Drop in Fraud, 2x Surge in Transaction Volume Used goods trading platform Bungaejangter announced its impressive performance metrics on the 17th, marking 500 days since it fully implemented its escrow-based 'Safe Payment' system for all transactions. Bungaejangter's bold decision in July 2024 to mandate the Safe Payment system for all payment methods to eradicate fraud has been praised as setting a new milestone in the used goods trading market. Safe Payment is an escrow method where payment is settled to the seller only after the buyer receives the item and confirms the purchase, providing a trust-based transaction environment for both buyers and sellers. **95% Decrease in Fraud Damage Rate, 'Prepayment Absconding' Scams Eliminated at the Source** Now, 500 days after its introduction, the most dramatic change is undoubtedly the overwhelming reduction in fraud damage. According to Bungaejangter's own data analysis, the average daily number of fraud cases as of October 2025 has decreased by a whopping 95% compared to July 2024, before the full implementation of Safe Payment. This is truly a remarkable figure, meaning that the chronic problem of fraud in used goods trading has been virtually eradicated. Bungaejangter cites the impossibility of "prepayment absconding" type transactions as the key reason for this success. The Safe Payment system fundamentally makes it impossible to intercept payments before item shipment due to its transaction structure, thereby solving the most common and fatal type of used goods fraud. The few fraud attempts currently occurring mostly involve circumventing the system to induce external account transactions (approx. 98%) or to encourage purchase confirmation before item receipt (approx. 2%). Bungaejangter plans to further strengthen its defenses against such circumvention attempts in the future. **Transaction Activation and Accelerated Platform Growth** With transaction safety firmly guaranteed, the platform's activity metrics also showed explosive growth. In July 2025, one year after the introduction of Safe Payment, monthly transaction volume recorded 958,000 cases, more than doubling compared to the same period last year. Subsequently, in October, monthly transaction volume surpassed 1.01 million cases, continuing its sharp growth trajectory. The transaction value also achieved remarkable growth. The monthly transaction value, which was 53.2 billion KRW in July 2024, grew by 54% to 82 billion KRW in July 2025, just one year later. In November 2025, it recorded 81.2 billion KRW, consistently maintaining the 80 billion KRW range, proving that a stable foundation for growth has been established. **Increased User Inflow and Improved Transaction Turnover Rate** The successful establishment of Safe Payment also led to increased user inflow. Monthly buyer numbers increased by 126% and seller numbers by 125% compared to the same period last year, driving the expansion of the platform's reach. This demonstrates that a secure transaction environment acted as a powerful incentive to attract new users. Furthermore, the transaction turnover rate significantly accelerated. The completion rate for sales within 14 days more than doubled compared to before the introduction of Safe Payment, confirming that more active and faster transactions are occurring. This provides a satisfactory transaction experience for both sellers and buyers, strengthening the platform's virtuous cycle. **'Safety' Becomes the New Transaction Standard** A Bungaejangter official commented on this achievement, stating, "While Safe Payment was initially perceived as somewhat cumbersome, a new standard has now firmly taken root: 'transactions must be safe to occur.'" This analysis suggests that Safe Payment has gone beyond being a mere system to change the paradigm of used goods trading culture. Moving forward, Bungaejangter plans to further enhance its big data and machine learning-based automated fraud detection system to more effectively block circumvention attempts, such as inducing external transactions, and to strengthen user protection. The establishment of a trust-based used goods trading ecosystem through Safe Payment is expected to be a crucial stepping stone for Bungaejangter to solidify its position as a leader in the used goods market. All eyes are on what positive ripple effects Bungaejangter's innovative initiatives will bring to the entire domestic used goods trading market.