"Buying and selling online is the new way to do business.
Sadly, it isn’t always the safest!"

That’s because online fraud is skyrocketing, costing unsuspecting victims millions each year! 

  • Problem 1: Without verifying the seller, buyers often fall victim to digital scams and pay for products or services that are sub-standard, or never arrive. 
  • Problem 2: Without verifying the buyer, sellers run the risk of delivering a product or service, only to be paid less or not at all. Worse yet, many sellers unknowingly help criminals launder their money through online commerce.

Thankfully, there’s a solution, and it’s called Escrow. Watch the video to understand more about how we offer buyers Payment Protection using escrow.

Escrow is a simple, financial arrangement where a licensed third party securely holds the funds of a transaction on behalf of a buyer and seller, and only releases payment when both parties deliver on their end of the deal. Because of its benefits, escrow has been used by lawyers and banks for decades, and through the getlion™️ Marketplace – now you can too!

How does Escrow work on the getlion™️ Marketplace?

Tick
Agreement
A buyer agrees to purchase something from a seller by placing an order online.
Tick
Verification
The identities of the seller and buyer are verified upfront to ensure the transaction is legitimate.
Truzo 1
Escrow Payment
The buyer pays the agreed purchase price into a secure bank account operated by the escrow provider. The seller is notified of the payment.
Tick
Delivery
The seller then delivers the agreed product or service by the agreed deadline.
Tick
Confirmation
The buyer reviews the delivery within a set time frame, and then accepts the goods/service.
Truzo 1
Supplier Payment
The money is then paid to the seller from the escrow provider’s account.

It’s as simple as that. By using escrow, both parties are protected.

  • Buyers knows that if the seller doesn’t deliver on what was agreed, that the money is safe and can be returned. 
  • Sellers know that the buyer (and money) are real, and that they’ll be paid in full on satisfactory delivery of their product or service. No more late payments, and you know you’re deal is clean. 

The benefits of Escrow

Pay

The buyer and seller can manage/track the transaction on the escrow platform at any point, and both parties are notified if action is required. The escrow process also serves as a formal record for the transaction should any disputes arise.

The funds are held in fully secure, non-interest bearing account until the transaction is completed. Using state-of-the-art security, funds and user data remain private and fully protected.

The escrow provider offers multiple payment methods, including Credit Card, EFT and Instant EFT.

It’s clear that using escrow to buy and sell online is the most convenient and safe way to do business. To provide this facility on our marketplace, getlion™️ has partnered with Truzo™️, a leading escrow provider regulated in South Africa and the UK. Truzo is regulated by the Financial Sector Conduct Authority (FSCA), does strict compliance checks on every user and has Professional Indemnity insurance cover in place for your peace of mind and.

Escrow is just another way that getlion is making “doing business” easier and safer for African buyers and sellers.

Main Menu