At Voyatone, the payment security is a priority. All payments are safely integrated with the Escrow – a security feature that helps the admin ensure a trustworthy marketplace. Escrow in association with PayPal Adaptive, Stripe connection, and Credit holds money as a neutral third party in the transaction until the services are satsifactorily delivered/terms honoured.
Upon enabling the system, the site admin will act as intermediary between the client and the freelancer. Whenever a client accepts a bid, he is required to park the bid money with the admin until successful completion of the project.
In the event of any dispute, the admin will act as the arbitrator and take the final decision on forwarding the payment to the freelancer or returning the money to the client in a fair and reasonable manner. Thus, Voyatone secures the interest of both users while ensuring safety of every transaction.
Here’s are a few situations to help you better understand the process:
client accepts a bid from freelancer: As per the bid acceptance norms, the employer transfers the bid money using the payment gateway (PayPal Adaptive) or Credit to the admin who then holds the bid money during the time the project is underway. Upon completion of the project, the bid money in Escrow is transferred to the freelancer. If the freelancer’s site uses Credit, the bid money is transferred to the balance column of freelancer.
When Freelancer uses Escrow Credit in site: If the freelancer uses an Escrow Credit in the site, the freelancer has to send a withdrawal request to the admin who will review the request and then transfer the payment to the freelancer.
Dispute – Arbitration: In the event of a dispute between the client and freelancer wherein, the client claims unsatisfactory work/delay from the freelancer’s side, while the freelancer believes that despite the job being completed as per the contract, the client has not approved the job, he too can mark a dispute request to the admin whose job is to intervene and solve the dispute. All other pertinent disputes such as client/freelancer withdrawing halfway through the project will be decided by the admin. The admin is authorized to take the final decision on such based on valid reasons and in the mutual interest of both parties.
Voyatone helps admins facilitate safe and hassle-free payment mechanisms in many profitable ways.
Transaction Commission: Earned on every transaction in admin marketplace
Posting Charges: Charge client for every project posting
Project Bid Charges: Charge freelancer for every project posting
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