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checkvault
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annaxoxo, post: 184342 wrote:
Hi,

I’m wondering if anyone could point me towards a good payment system.

Our business will be conducted online, and we’ll be acting as an agent between customers and service providers.

So, a customer will search our website for a particular provider, they’ll message eachother and come to a price.

The customer will then pay for the service in advance (our fee included), we (or preferably a service) will hold the funds until the service is performed, then if everything goes well the funds will be released to the provider.

I have looked at escrow.com and the minimum transaction amount is $25, which will really eat into our profit margin for services offered at the lower end.

We have considered holding the funds on their behalf but I’m trying to automate the process as much as possible.

Any ideas or recommendations will be much appreciated.

Thanks!

Hey annaxoxo,

I know you’ve put this question up a while ago, but I was just going through the forums and I happened to find your question.

If you’re still looking for a solution, I can recommend CheckVault (http://www.checkvault.com.au). As opposed to escrow.com, CheckVault does not charge a fee to use the service as it pays for it’s costs through the interest generated on the monies in escrow and a small margin on credit cards. This makes it easier I guess for businesses like yours that run on smaller profit margins.

Happy to discuss if you have any details.

Once again, I am aware that this is quite an old question, but I thought if you hadn’t found a solution as of yet, this might be useful.

Thanks and regards,