PayEx Payment Guarantee

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PayEx Payment Guarantee ensures efficient and safe online payments for:

  • Consumer-to-consumer transactions (C2C)
  • Business-to-consumer transactions (B2C)
  • Business-to-business transactions (B2B)

C2C trading on the Internet is a fast growing segment. This has also led to an increase in fraud, primarily in transactions between private individuals who are unable to meet personally. When you use PayEx Payment Guarantee the buyer’s payment to the seller is transferred via a professional and neutral third party (PayEx), protecting both seller and buyer from fraud. Current users of the service include Finn.no and QXL.no.

  1. Functionality
  2. Technical interface
  3. Customers

Functionality

PayEx Payment Guarantee is a third party which receives payment from the buyer and holds on to the money while the seller dispatches the product. When the buyer has received the product and is satisfied, the money is paid out to the seller. This provides security for both seller and buyer and ensures that neither party has an incentive to defraud the other.

How it works:

  1. The seller and buyer agree the price and any freight costs. The buyer enters the price and information in the system and the seller approves the price.
  2. The buyer pays the agreed amount to PayEx Payment Guarantee.
  3. When the seller has received confirmation that PayEx Payment Guarantee has received money from the buyer the seller dispatches the product to the buyer.
  4. When the buyer has confirmed that the product has been received and approved the condition PayEx Payment Guarantee releases the money to the seller.

Technical interface

PayEx Payment Portal is a stand-alone service which PayEx can customise to your company’s specific needs and graphic design. All you need to do is link to the service, and PayEx will take care of the rest:

  • Connections to payment providers for incoming and outgoing payments
  • Handles the dialogue between buyer and seller in six simple steps
  • Sends out information and confirmations by SMS or e-mail

Customers

  • FINN
  • QXL
  • AVForum
  • TrendBazar

Customers

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