Do you wonder what happens after you click on the “Buy It Now” or “Place Bid” button? Keep reading to get a heads up on Freemarket’s simple and secure payment process before closing a deal with a seller.
Payment gateways secure your credit card details by encrypting your credit card number and other sensitive information. This guarantees that information is passed safe and sound between the customers and merchant, as well as between merchant and the payment processor.
For sales under $500, accepted payment methods include Mastercard, Paypal, Verified WebMoney, Skrill, JCB, Visa, and American Express. If your payment is over $500, it will need to be sent via wire transfer.
Freemarket’s Payment System
Freemarket is built using the same secure frameworks and systems as Freelancer.com, which has handled over a billion dollars worth of payments. Whenever you transfer funds on Freemarket, you’ll experience the same ease of use and security that millions of others have come to love and trust. Plus, there are no additional fees!
In all ecommerce market places you get people trying to disrupt buying and selling in various ways. To combat this from happening on Freemarket, we require every user who bids or makes an offer over $200 to add a verified payment method to their account. This way scammers, online identity thieves etc. will think twice before trying to make fake bids or disrupt the marketplace.
What Happens When Buying on Freemarket
When you purchase a domain name or website, the handover process begins as soon as you send the sale amount to Freemarket for secure holding. Once the seller transfers all ownership to you, and you’re satisfied with the transaction, you may release the funds. Transaction, done!