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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

Categories
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.

Categories
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.

Categories
escrow online classifieds

Online Classifieds

According to Gumtree, the most popular searches under Used Electronics on their platform are as follows:

1. PS4

2. iPhone

3. Xbox One

4. Apple Watch

5. Playstation 4

6. iPhone X

7. iPhone 6

8. iPhone 7

9. iPhone 11

10. Drone

The searches are most likely made by a combination of buyers looking to find some good deals and sellers looking to sell their unwanted phones, game consoles etc… Classifieds platforms like Gumtree are great in that they are able to remove all geographical boundaries and limitations and make it possible for people to buy or sell from and to anyone anywhere South Africa.

Unfortunately, these searches also include those from scammers who are on the prowl, looking for their next victim. These are people who have made it their business to scam others out of their hard-earned money. And these people don’t look or sound like scammers, making it extremely difficult to know who you can trust and who you can’t.

The two ways to protect yourself from them are by: – only buying or selling from or to people that you can meet face to face or using Paysho to facilitate all your transactions when dealing with a stranger.

That way, you are always guaranteed to either receive what you pay for and if you are selling, always get paid for your goods.

Click here to learn more about how Paysho can protect and allow you to buy and sell with complete peace of mind.

#BeSureWithPaysho