Escrow Service for Classifieds

[IronTree]

http://www.fin24.com/Tech/News/SA-escrow-service-to-boost-online-trading-safety-20150728

 

https://www.paywithshepherd.com/

[Captain Fastbastard Mayhem]

Brilliant

[the nerd]

That's smart!!

[Ryanpmb]

R30 seems cheap for the added security. Nice.

[Skylark]

Be interested to see if it gains market traction.

 

I've sold some stuff to random people a few times via Gumtree, they'll ask if I can post it and then once I'm sure the funds are in I send it off. Normally all done via email, based purely on their trust in the good of people I suppose, most expensive thing was just over R1000 though, for expensive stuff this service would be useful.

 

Be interesting to see if scam artists find some loop hole in the system, they can be incredibly crafty.

 

Someone on thehub should use it on a classifieds transaction just to see how it is. You are forced to use Ram couriers though, I wonder what the rates will be like, they aren't the cheapest.

[velomonatiCT]

standard robber bank can stay the heck away from my money thnx   

i used to bank with them and they are overpriced and underqualified

and they dont do anything out of the goodness of thier hearts so somewhere they will be bleeding someone (buyer or seller)

[Martin PJ]

With eBay and Aliexpress the escrow is built into the website. I think this is the way to go. 

[PayWithShepherd]

Be interested to see if it gains market traction.

 

I've sold some stuff to random people a few times via Gumtree, they'll ask if I can post it and then once I'm sure the funds are in I send it off. Normally all done via email, based purely on their trust in the good of people I suppose, most expensive thing was just over R1000 though, for expensive stuff this service would be useful.

 

Be interesting to see if scam artists find some loop hole in the system, they can be incredibly crafty.

 

Someone on thehub should use it on a classifieds transaction just to see how it is. You are forced to use Ram couriers though, I wonder what the rates will be like, they aren't the cheapest.

Hi Skylark,

We use RAM because they're very reliable and believe it or not, we're actually getting seriously good rates from them. To give you an idea, to send anything that weighs 1.99kg's anywhere in the country is gonna cost you around R78. For anything below 5kg's, it'll cost you R100. Some of the guys from the Hub have already done a couple of successful deals through us, I'm happy to say. 

[PayWithShepherd]

standard robber bank can stay the heck away from my money thnx   

i used to bank with them and they are overpriced and underqualified

and they dont do anything out of the goodness of thier hearts so somewhere they will be bleeding someone (buyer or seller)

Hi VelomonatiCT, 

I hear what you say. I've gotta admit, there's a couple of banks out there that I'm also not too fond of. It's good to bear in mind though that Shepherd is a private company and Standard bank provides the banking platform for the back end. So the front end and customer services etc. is all manned by a couple of us who most definitely work for a private company. But with all the safety bells and whistles you can only get from a bank. 

Martin

[Skylark]

Hi Skylark,

We use RAM because they're very reliable and believe it or not, we're actually getting seriously good rates from them. To give you an idea, to send anything that weighs 1.99kg's anywhere in the country is gonna cost you around R78. For anything below 5kg's, it'll cost you R100. Some of the guys from the Hub have already done a couple of successful deals through us, I'm happy to say.

What is the actual process to use the service?

[PayWithShepherd]

What is the actual process to use the service?

Skylark, obviously both the buyer and seller first need to register on our site. This requires ID verification, but I'm sure you'll understand why we need to do that. The next step is for the seller to post and share the item with the buyer's e-mail address. The buyer then simply logs on, locates the transaction, and pays with his credit/cheque card. The seller is notified of this and then the seller pays for the courier fee. He prints out the waybill and the courier collects the parcel from him. When the the parcel is delivered to the buyer, his ID is verified and he has a couple of minutes to open and inspect the item in the presence of the courier driver. If the buyer is not happy, he doesn't sign the waybill and the parcel gets sent back. If he is happy, his signature concludes the deal and the funds are paid over to the seller. I hope this answers your questions sufficiently?

[Skylark]

So that little window of inspection time when the courier delivers to the buyer becomes the be all and end all of the transaction?

 

With many items that's hardly going to be time to properly inspect or test something(it could even be a part that needs to be fitted before it can be tested). What happens if the seller discovers a serious problem with the item after the courier has left, which is a perfectly feasible scenario, how does your system deal with that situation?

[urbanroyal]

If the buyer sends the goods back for some reason...is that at the sellers expense ?

[popcorn_skollie]

So that little window of inspection time when the courier delivers to the buyer becomes the be all and end all of the transaction?

 

With many items that's hardly going to be time to properly inspect or test something(it could even be a part that needs to be fitted before it can be tested). What happens if the seller discovers a serious problem with the item after the courier has left, which is a perfectly feasible scenario, how does your system deal with that situation?

 

I think the service creates a safer platform for trading when dealing with strangers. At the very least it eliminates scenarios where a buyer opens the box after parting with his money only to find a turd inside. It also creates a platform where sellers who despite providing transparency about a product they are selling are able to refuse returns when a buyer is not happy with its first impressions. Transparency regarding condition and/or possible defects are often misleading whether its the sellers intention to do so or not. Shepard doesn't imply any insurance past the buyers initial point of inspection sure,

but if the buyer suspects something when opening the box he can still say no and get his money back. This was not always previously possible and every other week a thread of this nature pops up. 

 

While the rating system implemented by Bikehub allow users a better point of departure regarding first impressions of the member. It doesn't imply any opportunity for the buyer to get his money back after paying for something. Albeit a small window. But Shepard's system allows this provision where previously there was none at all. Good ratings serve as positive reinforcement for buyers to take the plunge when dealing with someone. But once you part with your money it gone. Save a few instances where buyers can actually rely on a sellers integrity and allow a return and/or refund. With Shepard there is no plunge at all.

 

Its not full proof. Nothing is. I'm sure any possible loopholes for criminals to exploit will present itself. But i think the system, even with its risks and fine print is better than not having one at all.

[Skylark]

Thanks for the reply, hopefully the Paywithshepard guy can address my concerns, the system still leaves things wide open for abuse if you've only got 5mins to check something out and once you've accepted the item and the courier has left there's no recourse whatsoever.

 

It'll be very easy for the unscrupulous to game that system.

 

For instance is the courier going to sit around while you connect the PS4 you've just received and load up a game, no he's not.

 

When the courier delivers the PS4 it may look mint when you open the box to give it a quick visual inspection(whilst the courier is standing there waiting for your signature) and all the accessories may be there but when you power it up you may find that it has a serious fault, then what?

[Skylark]

Paywithshepard guy, you not going to address the points I brought up?