Feedback wanted: Would you use Shepherd for Classifieds deals?

[Matt]

Hi Hubbers,

 

We're considering integrating Shepherd as a secure payment option for Classifieds deals and are keen to hear your thoughts.

 

If you're not familiar with Shepherd check out their website or the video below.

 

 

Would you use Shepherd? Vote in the poll and please give your feedback below.

 

Thanks!

[VicanZA]

would be good to have another option. 

[Schnavel]

It's a great idea and will definitely help to alleviate issues with people not delivering as promised.

 

However, I see that there is 3,95% admin fee if paying by credit card and then you still have to pay couriers fees.

 

https://www.paywithshepherd.com/costs

 

So I guess it depends on what you are buying and from whom, but definitely a good option to consider.

[GrahamS2]

Why not open it up to other escrow services? Shepard is good, but they're quite pricey.

[thisismyotherbike]

I've been put off in the past by their fees.  You are effectively buying insurance and the premium is high.

 

For some transactions (with counterparties that make you uncomfortable) I think it is great to have the option.

[shaper]

As an option it would be ok, but would only use it for big price items where I was unable to collect myself.

[Matt]

Why not open it up to other escrow services? Shepard is good, but they're quite pricey.

Are there any in particular you have in mind?

[Uni]

For a large ticket item that I was unable to inspect myself I would use it - probably ask the buyer / seller to split the costs as it protects both parties. 
 

[GrahamS2]

Are there any in particular you have in mind?

There are so many these days. Tradesafe and Securepay are 2 reputable ones. Tradesafe are PASA registered and offer a decent fee structure. You can also choose to split it between buyer and seller, or have either pay in full.

 

I don't have a vested interest in either of these, but it is an industry I'm familiar with.

[Mongoose!]

For a large ticket item that I was unable to inspect myself I would use it - probably ask the buyer / seller to split the costs as it protects both parties. 

 

 

agree 100%

[cadenceblur]

They're a bit pricey but maybe a good option for out of town deals or deals with Hubbers with no / little trading history or feedback

[PayWithShepherd]

There are so many these days. Tradesafe and Securepay are 2 reputable ones. Tradesafe are PASA registered and offer a decent fee structure. You can also choose to split it between buyer and seller, or have either pay in full.

 

I don't have a vested interest in either of these, but it is an industry I'm familiar with.

Hi Graham, If I may jump in from the Shepherd side. Without me trying to downplay the competition: Tradesafe charges 1.2% for EFT payments but with a minimum of R100 on any transaction. Average transaction value is R3000 so that would effectively be 3.3% for Tradesafe. Shepherd charges 1.95% on EFT payments with no minimum fee. So effectively we're cheaper. If the buyer makes a card payment however fees are 3.95% but this is mainly due to merchant fees charged to us by the bank. Also I don't think they've got a fully automated pay button functionality as we do. We're also registered with PASA. Hope this answers? 

[Mongoose!]

Start a new poll, or add this question also to this poll

 

"What % are you willing to pay?

[GrahamS2]

Hi Graham, If I may jump in from the Shepherd side. Without me trying to downplay the competition: Tradesafe charges 1.2% for EFT payments but with a minimum of R100 on any transaction. Average transaction value is R3000 so that would effectively be 3.3% for Tradesafe. Shepherd charges 1.95% on EFT payments with no minimum fee. So effectively we're cheaper. If the buyer makes a card payment however fees are 3.95% but this is mainly due to merchant fees charged to us by the bank. Also I don't think they've got a fully automated pay button functionality as we do. We're also registered with PASA. Hope this answers? 

Fair comment, and for lower value transactions you will indeed be cheaper. But I suspect the use case here is primarily aimed at higher value transactions (relative to the Bikehub environment). This would mostly be bicycle sales or higher value parts transactions. I could, however, be totally off the mark

 

Just a question, why not offer a sliding scale fee for individual transactions?

[M L]

Hi Graham, If I may jump in from the Shepherd side. Without me trying to downplay the competition: Tradesafe charges 1.2% for EFT payments but with a minimum of R100 on any transaction. Average transaction value is R3000 so that would effectively be 3.3% for Tradesafe. Shepherd charges 1.95% on EFT payments with no minimum fee. So effectively we're cheaper. If the buyer makes a card payment however fees are 3.95% but this is mainly due to merchant fees charged to us by the bank. Also I don't think they've got a fully automated pay button functionality as we do. We're also registered with PASA. Hope this answers? 

Very cool business. If merchant costs are so high, can you not lower them with other payment options apart from VISA/Mastercard, such as zapper, etc.

[PayWithShepherd]

Very cool business. If merchant costs are so high, can you not lower them with other payment options apart from VISA/Mastercard, such as zapper, etc.

Hi ML,

Zapper and SnapScan charges the same if not more than merchant card fees because the transaction is still processed through a card i.e. your bank card that's linked to Zapper / SnapScan. So unfortunately this won't be cheaper. EFT option is the cheapest but not as convenient as card. We are looking at incorporating Snapscan and Zapper though.