Author: Bongani Matshisi

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buyer protection escrow online classifieds online scams seller protection

Escrow Services Simplified

Online marketplaces are a popular and convenient way to buy and sell goods, but they also pose some risks of fraud and scams. One way to protect yourself and your money is to use an escrow service, which acts as a trusted third party that holds and releases funds according to the terms of the transaction. But is escrow always the best option? Here are some of the advantages of using escrow services for online marketplace transactions.

How escrow works
An escrow service is a company that provides a secure platform for buyers and sellers to complete their online marketplace transactions. The buyer pays the escrow service, which verifies the payment and notifies the seller. The seller then ships the item to the buyer and provides the tracking information to the escrow service. The escrow service confirms the delivery and releases the payment to the seller, minus a fee. If there is a problem with the item or the delivery, the escrow service can help resolve the dispute or refund the buyer.

Advantages of escrow
Using an escrow service in online marketplace transactions has several advantages for both buyers and sellers. Escrow reduces the risk of fraud and scams, as it verifies the identity and legitimacy of both parties, and ensures that the payment and the item are exchanged as agreed. It also protects buyers from receiving damaged, defective, or counterfeit goods, or not receiving the item at all, as the escrow service holds the payment until the buyer is satisfied with their purchase. Sellers are also protected from chargebacks, disputes, or non-payment, as the escrow service guarantees payment once the item is delivered and accepted by the buyer. Finally, an escrow service can enhance trust and confidence between both parties as they can rely on it to handle the transaction securely and fairly.

How to choose an escrow service
When choosing an escrow service for your online auction transaction, it’s important to do some research and comparison. You should look for an escrow service that is licensed, regulated, and insured by the relevant authorities in your country or region, and that complies with the laws and regulations of online commerce and consumer protection. Additionally, you should find one with a clear fee structure, terms and conditions, dispute resolution process, customer service policy, and written contract and receipt for your transaction. Lastly, you should make sure the escrow service has a good reputation and track record with positive reviews from previous customers and independent sources.

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Uncategorized

14 Tips on Avoiding Solar Installation Scams

This article first appeared here

As the loadshedding situation in South Africa worsens, many desperate citizens are turning to solar power at their homes or businesses to keep the lights on and – hopefully – save on energy costs in the long run. Unfortunately, with increased demand in solar installations, unsavoury characters are taking advantage of consumers’ growing desperation.

Here are some simple tips to avoid getting scammed out of your hard-earned money:

  • Verify that a company is legit. Don’t just rely on a link sent to you by an alleged service provider.
  • Online service review sites can save you thousands – read what other customers have to say about a specific company before you decide to enter into any agreement.  
  • Compare the website links provided by a supposed installer with the web address of the company they claim to work for. Scammers will often amend a web address only slightly.

Example: A legitimate URL will be https://www.fakesolarpowercompany.co.za while the fake website will be listed as http://www.fakesolarpowerscompany.com

  • Scam sites will often use other websites’ or companies’ images as “proof” of work completed. Do a quick reverse image search online to check whether an image was used elsewhere before. Here’s how to perform a reverse image search.
  • Ensure the company you’re dealing with is accredited. The South African Photovoltaic Industry Association (SAPVIA) has put together an extensive list of accredited solar installation companies. You can request these companies to supply a Certificate of Compliance (CoC) and a PV GreenCard at any time. Should an installer be unable or unwilling to provide these documents, rather find someone else.
  • Request a detailed checklist before installation begins. This checklist will detail all the general timeline, and steps needed to complete your solar energy installation, as well as the type of equipment being installed (such as inverters, batteries, and modules).
  • If a deal sounds too good to be true, it usually is.
  • Shop around and speak to people who already have solar installations to determine whether a company is trustworthy or not.
  • A legitimate solar installer will very rarely reach out to you. Any unsolicited offer to install solar panels must be met with great caution.
  • If someone claims to represent a legitimate company but insists you work directly through that person, rather contact the company first to confirm that the person is indeed employed by them.
  • Facebook Marketplace and other online sales platforms are usually not the best places to find a reliable solar installer. It’s also much harder to recoup any money should a deal go wrong.
  • If a company or individual tries to pressure you into signing a contract, rather walk away – even more so if they don’t want you to read through the sales agreement in your own time.
  • Never sign a contract or agreement you don’t fully understand.
  • Unfortunately, the upfront costs required for a solar installation are high. It’s therefore crucial that you verify a company’s banking details before you make any payment.

Of course, one way to protect from any scams is by using an escrow service such as Paysho whenever you want to hire a contractor to do any work for you. Paysho gives you peace of mind with every purchase you make by ensuring that your money is protected from any scam. Whether you are buying online or offline, you can be sure with Paysho.

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Uncategorized

Don’t Buy A Fake Watch

This article comes to us courtesy of TimeTraders

There’s a world of counterfeit watches out there attempting to trick you into thinking they’re the real deal. Around 15-30% of internet searches for watches involve people looking for replicas. The Swiss watch industry claims it costs them billions of dollars every year and although major efforts are made to catch and confiscate the fakes it’s a growing problem.

Working closely with customs officials in major markets, the luxury watch industry continues to play a big part in the seizure of fakes although many still make it through to market – it’s just too difficult to catch them all.

The replica watch industry is a natural tangent of a market for items that are beyond the realm of affordability for most people. The demand for fake watches exists simply to satisfy the desires of people who cannot afford “the real deal” but want to portray the same status symbols as those who can. Here are five reasons why you shouldn’t buy one:

Long arm of the law 

Buying a counterfeit product is not a harmless act – you’re supporting organised crime and run the risk of criminal, civil, and customs sanctions. In fact, in many countries, the simple possession of counterfeit goods is considered an offence. In addition, damages can be claimed by the legitimate holders of intellectual property rights. Customs are also authorised to seize and destroy illegal products and hand out large fines.

Built to not last

While some counterfeiters are hawking their fake watches for a couple of bucks, others produce surprisingly convincing replicas at a few hundred dollars a pop. Granted, spending $600 isn’t the same as spending $6,000 on a watch, but it’s still a significant chunk of change. Factor in the likelihood that the fake will break down fairly quickly and it’s easy to see how you’re simply wasting your hard-earned cash.

Identity theft

Back in the day, fake watches were typically purchased in person with cash. However, more and more counterfeiters have been moving online in recent years. In order to elude law officials, they will frequently change their URLs and quickly open and shutter their websites. In turn, their faulty and insecure websites are incredibly vulnerable to hackers and identity thieves. Shopping on these shady sites can put you at risk of having your personal and credit card details stolen.

Fake equals fake

Traditionally there are three types of buyers who want a luxury watch on their wrist. One is the collector who values the artistry and mechanics that make up a fine timepiece. This individual understands and respects their value and appreciates the craftsmanship. The second type of person buys a luxury watch purely for the statement it makes about their lifestyle. The third type of person is the same in that they want to impress others, but they can’t afford the real thing. Don’t be this person.

Damage the real deal

Buying a fake watch undermines the whole industry by diluting and redirecting the equity of the watch brands into counterfeit goods. It flouts the long history, the centuries of skill and innovation, and the intellectual property of an industry that the counterfeiters — not the manufacturers — reap the rewards of. They are slowly starving the golden goose, so don’t make it worse by giving counterfeiters your money.

Whenever you are buying a watch from an individual or an online marketplace and you are unsure whether it is genuine or not, you should use an escrow service like Paysho to process your payment. Some of the benefits of using Paysho are:

  • You can inspect the product before we release the money to the seller
  • You have the option of accepting or rejecting the product if you are not happy with it
  • You avoid the risk of losing your your money from faulty products or poor workmanship

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buyer protection escrow online classifieds online scams

Time is NOT against you

One of the tricks that scammers use to rob you of your money is to put time pressure you. For starters, they will advertise something at such a good price that it will attract a lot of potential buyers. Anyone who shows interest in the item will be told that there are many other people interested in it and that the only way to secure it is by paying a deposit or even the full amount before they’ve even seen the product or confirmed the legitimacy of the sale.

This pressure does work because everyone likes a good deal. And the scammers know that. However, if you are in a hurry to secure the item, you are more likely to make a mistake or miss a red flag – this is exactly what scammers are hoping for.

Don’t rush into a sale right away. If something feels off about a seller, you are not under any obligation to buy and you shouldn’t be pressured into buying something before all the safety boxes have been firmly ticked.

Of course, one way to protect from any scams is by using an escrow service such as Paysho whenever you want to buy or sell from Facebook, Instagram or online classifieds. Paysho gives you peace of mind with every purchase you make by ensuring that your money is protected from any scam. Whether you are buying online or offline, you can be sure with Paysho.

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buyer protection escrow online classifieds seller protection

The Safest Way To Buy and Sell Domains

You’ve come up with the perfect name for your business. You register it. And because you also want to have an online presence for your business, you decide to register a domain. But alas, the don’t domain you really want has been taken. The person who owns it is not using it. They’ve just parked it. You make contact with them and manage to convince them to sell it to you for a fair price.

Now you and the seller are faced with a challenge: how do you ensure that the transaction goes smoothly? Do you send them the money and trust that they will transfer the domain to you or does the seller transfer the domain to you before you pay?

This is where an escrow service like Paysho comes in. An escrow service is a third party that holds the money until the domain is transferred. It works as follows:

1. Once the buyer and the seller agree on the price for the domain, they can set up an escrow transaction on Paysho.

2. The buyer pays the money into Paysho.

3. Once Paysho confirms that they have the money, we instruct the seller to transfer the domain.

4. When the buyer confirms that the domain has been successfully transferred, Paysho will transfer the money to the seller.

Both the buyer and the seller can conduct the transaction with complete peace of mind knowing that they are safe from any potential scams. For more information on how Paysho works, you can click here: 

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buyer protection escrow online classifieds seller protection

How An Escrow Service Protects Buyers and Sellers

A typical real life example:

A buyer has agreed to buy a mobile phone from on an online classified marketplace. The price agreed upon is R4000. The seller claims that the phone, although not brand new, has no defects or scratches and is in top condition.

For the buyer: There may be the risk something could be wrong with the phone, or it’s not in the condition advertised.

For the seller: There may be the risk that the buyer does not truly intend to purchase the phone; maybe they don’t have the money, or worse, they are posing with the intention to steal it.

By using an escrow service like Paysho, both the buyer and the seller have a much higher level of protection. The buyer is guaranteed that they are guaranteed to either get exactly what they pay for or their money back. The seller is equally protected in that it is only after Paysho has received the money from the buyer will the seller be required to ship the phone. Until such time, they seller get to keep his or her phone.

To learn more about Paysho eliminates all risk and uncertainty associated with buying and selling from classified marketplaces, click here.

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buyer protection escrow

What Is Escrow?

Escrow is an age-old concept, and a term unfamiliar to most, but is becoming increasingly popular across a wide range of industries. According to a study conducted by Paysho, 86% of online classified shoppers have never heard of an escrow service. Simply put, escrow is an agreement between two people or organisations in which money or property is kept by a third person or organization (middle man) until a particular condition is met. Escrows are very useful in cases where a large amount of money is involved and a certain number of obligations need to be fulfilled before a payment is released. In the case of a sale of goods or services, an escrow makes the transaction more secure for both the buyer and the seller by safeguarding all funds and only releasing them when both parties have fulfilled their part of the deal.

As a provider of escrow services, Paysho removes all uncertainty from buying and selling and ensures that anyone who uses it can buy or sell anything in complete peace of mind.

Whether you are buying or selling physical goods or service online and offline, you can be sure with Paysho.

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buyer protection escrow online classifieds Uncategorized used cars

How To Safely Buy A Used Car

Every day, hundreds of people are losing their hard-earned money trying to buy used cars. The pre-owned car market is very popular because if one looks hard enough, there are some really good deals to be found in that market. However, as with most markets, the used car market is attractive to scammers who are always on the hunt for their next victim. These scammers use Facebook and other online classifieds platforms like Gumtree and OLX to advertise nonexistent cars. Sometimes it’s not easy to differentiate between what is a scam and what is a legitimate sale.

The following are common signs of a scam:

  1. The price of the car is well below the market value. If it seems too good to be true, it usually is.
  2. Scammers will refuse to provide sufficient contact details. The phone number provided is either faulty, remains unanswered or goes directly to voice mail
  3. Scammers turn off commenting on their posts so people can’t tell other people that the sale is a scam
  4. Scammers will usually make an excuse for not being available via telephone
  5. Scammers may demand the full price of the car, or a deposit, to be transferred immediately. Once they have received money they fail to release the vehicle and become difficult to contact

Scammers often claim to live overseas or have some kind of hidden agenda

Tips to avoid scams:

Never transfer or hand over cash to a seller if you have not seen and verified the vehicle

Always meet with the seller in person, preferably in a public place

Always do a history check on the vehicle to ensure that it’s not stolen and that the car’s details match those on the ownership registration and roadworthy documents

Check that the Vehicle Identification Number (VIN) matches the number on the owner registration and roadworthy documents and that the VIN number on the car has not been tampered with.

Check that the seller’s address matches the address on the registration and roadworthy documents.

Research the car’s value by searching for similar models online. If the value of the car is far below what it should be, it could be a scam

Check the service history of the car

If you suspect fraud or are a victim of a scam, contact your nearest Police station immediately.

One way to ensure that you never fall victim to scams is to use an escrow service like Paysho when buying a used vehicle. With Paysho, you are guaranteed to either get what you pay for or, at the very worst, your money back. Click here to learn more about how Paysho works and how it can protect you from getting scammed.

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buyer protection online scams

A Sad Reality

Imagine this scenario:

After years of sitting at home looking for a job and not getting one, you finally decide that enough is enough and decide to start your own small business. You start looking on Facebook and other places for things to sell.

Eventually, you find something. A lady in Johannesburg is selling 10 pairs of shoes at R250 each. The shoes are so beautiful that you could easily sell them for double that price. The problem is that you don’t have the R2500 you need to buy the stock. But you believe so much in the product and your ability to sell it. So you decide to borrow the money from a friend or a relative.

You then contact the seller, exchange phone numbers, address details and bank account numbers. You send the money off to the seller and patiently wait for your stock to arrive. In the meantime, people are starting to place orders with you in anticipation of the the stock that is on its way.

One week passes. Then two. Then three. And the stock has not arrived. You contact the seller and get no response. You send messages. Still no response. Another few weeks go buy and as hard as it is, you are forced to accept that you have been the victim of a scam. Now, not only have you lost R2500 but you now owe that amount to the friend or relative you borrowed it from.

Stories like this one happen everyday. Every single day. The good news is that it does not have to be that way. Not with Paysho around.

Whether it is physical or digital goods, Paysho ensures that all buyers and sellers are protected equally and can transact with each other in complete peace of mind. Click here for more information on how Paysho works.

#BeSureWithPaysho

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escrow photography

Wedding Day Ruined

A Facebook ad for “affordable photography” caught Natalie Barney’s eye at just the right moment of her wedding’s planning process. The images on the photographer’s portfolio looked impressive. She was quoted a great price for 100 images which she accepted, booking the date. Little did she know that she was viewing wedding images gleaned off sites like Pinterest and not the original work of the photographer.

On the day of the wedding, the photographer reported that she was having “camera issues” which, as it turned out, were the result of the photographer having zero understanding of how shutter speed and camera focus work. The end result was that the images from the event were completely unusable. They were underexposed, blurry, and awkwardly framed. The couple had to rely on friends and family who had taken their own photographs of the wedding for memories of their special day. The photographer consoled the upset bride with the promise of a free family photoshoot on a future date. When the dressed-up newlyweds arrived at the new shoot location, they were stood up by the photographer’s no-show.

Headlines like these seem to pop up with regularity: “Bride Shafted by Photographer, Never Received Images.” “Wedding Couple Devastated by Blurry Photographs.” The reason for these incidents is obvious, that there will always be amateur photographers naive enough to jump into a paid wedding with little to no skills, and there will always be brides on a budget who fall victim to their confidence.

Having a wedding on a budget is understandable. Ripping someone off with a fake portfolio and ruining a cherished memory is not. Thanks to Paysho, no one ever has to go through such an experience, especially on a day as important as their wedding day. If the Natalie and her fiance had used Paysho to facilitate the transaction, Paysho would have safeguarded their money for them and only released it after they had confirmed that they were happy with the service they received. Based on how the events of the day turned out, they would have received all their money back.

Paysho not only protects buyers of physical goods but of services as well. You can click here for more information on how Paysho works.

#BeSureWithPaysho