The service is called Block Payment and both buyers and sellers must identify themselves with Bank ID. As usual, the seller gets paid within 5 minutes. However, for some banks it may take up to a day.
The buyer can choose between paying for an invoice within 14 days or paying part. We assume that it is the latter option that finances the service, since there are no other fees.
Initially is the Block Payment service limited to car purchases in the range of 10,000 to 100,000 SEK. In the future, the service will also include higher sums and Blocket also promises that there will be more payment options.