Startup InstaCash is paving a new way for selling your old phones

India is world's second largest smartphone market and will have 50 crore smartphone users in the next 5 years. With the growing demand for smartphone, the price of the smartphone is eventually decreasing and people are buying new smartphones frequently. Usually, people lock their old phones in a cupboard after getting a new phone and later converts it into an e-waste. E-waste is a term used for the electronic items which are rendered useless and have completed their lifespan. With increasing technology, new products are being launched in the market every other day, which replace the older products. For example: when was the last time you used a VCR? DVD is still in the loop, but its course will die out soon. Now, these old electronic items stay in the homes for many years, until the owner decides to throw them away in the junkyard. It gradually becomes added pollution to the environment.

Unawareness Among People

Only 5% of India’s e-waste gets recycled due to the poor infrastructure, and 95% is managed by local scrap dealers and unorganized sector. People are not aware of the fact that their old phone can get recycled, refurbished, or donated to the person who really needs it. The mobile phone life can be increased 3 times by recycling and refurbishing. A person's mind doesn’t strike for selling old phone due to less awareness.

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Launch of InstaCash

In order to overcome these issues, Prateek Goel launched InstaCash portal to sell an old phone in 60 seconds only. He states, “It was very important to bring the e-waste awareness among the people, and how the old phone can be used so we started this.” The journey started from Delhi and later expanded service in Chandigarh, Pune, Surat, Delhi, Gurgaon, Noida, Mumbai, Bangalore, Hyderabad, and going to expand service in Eastern side. Not only in India, a few days back, InstaCash has launched its portal in Malaysia also.

What is InstaCash?

The site offers service to sell old/used/broken/damaged phone with the best resale value. The user can log on to website or app, and after selecting the product condition, the system generates the value of the phone. On the confirmation of the customer, old phone is picked up at the doorstep, and instant payment is made to the customer. This easy and fast transaction process has made people more open towards the idea of e-cash. There are NGOs and other groups who are trying their best to generate awareness about the ewaste, and InstaCash has come as another promising source of knowledge.

Why InstaCash?

• InstaCash app has a highly intelligent algorithm and diagnosing system which automatically detects your phone 
• Quote the best price on the basis of the phone’s condition and the current market price of your old phone. 
• Offers convenience and flexible method to sell used phones. 
• Payment is credited to the customer to their chosen preferred payment method during placing an order.

The concept was new for the customers so we were surprised by the achievement we got within a month. People accepted this concept in a right manner and we started getting a number of orders in a few days. We were right about this that people are not aware of the fact and after knowing this, they were ready to be a part of this.