If you have valuable items you no longer want, pawning them to a pawn shop may be an option. It’s easy, fast and safe – and it doesn’t hurt your credit. But now, there are new options for people who don’t want to go in person. Online pawn services have emerged to offer consumers the convenience of turning personal possessions into instant cash.

Online pawn shops like Pawngo, ePawnMarket and Borro Luxury operate much the same way as traditional pawn shops but without the physical storefront. Customers use prepaid FedEx boxes to send in their items, the companies evaluate them and then make a cash loan offering, typically with an interest rate of three to six percent over three to six months. When the loan is paid back, the item is shipped back to the customer.

Online Pawn Services: How to Sell Valuables from Home

While pawnshops have long operated as a source of short-term loans for those with bad credit, the growing popularity of Online pawn services could challenge brick-and-mortar stores in the future. These new services are aimed at attracting customers who don’t feel comfortable walking into a store with a castoff wedding ring, camera or china platter in hand.

While some pawnshops have hesitated to work with these new online competitors, others are jumping at the chance. Todd Hill of Denver says his online service, Pawngo, has signed up 1,300 pawn shops and served 23,000 consumers in the past year and a half. Those consumers have negotiated the sale of more than $4.2 million worth of goods.