PayEx Escrow

There has been a significant growth in person-to-person Internet shopping, bringing with it an increase in fraud, primarily in the case of trading between private individuals who do not meet in person.

PayEx Payment Guarantee is the perfect system for self-service shopping between web site users. The system is used by "buy and sell" portals such as Finn.no and QXL.no.

How does the system work?

• The buyer and seller agree on a price and any possible transport costs. The buyer enters the price and information into the system. The seller approves the price entered by the buyer.
• The buyer pays the agreed amount to PayEx Payment Guarantee.
• Once the seller has received confirmation from PayEx Payment Guarantee that the amount has been received, he/she dispatches the product to the buyer.
• Once the buyer has confirmed receipt and approval of the product, PayEx Payment Guarantee pays out the money to the seller.