Escrow Payment

Escrow Payment is a service where Razer Merchant Services acts as a trusted 3rd party that collects, holds, and disburses fund on behalf of Marketplace according to buyer and seller's instruction.

Buyer's Benefits

i.
Buyer can raise a dispute on any unsatisfied transactions through Razer Merchant Services Escrow API

ii.
Buyer is eligible for refund once dispute cannot be resolved through Razer Merchant Services Mass Payment API

Seller's Benefits

i.
During the settlement, sellers will get their funds through Razer Merchant Services Mass Payment services.

Marketplace Benefits

i.
Marketplace can easily provide escrow service through Razer Merchant Services Escrow API

ii.
Marketplace can use Razer Merchant Services Mass Payment for fund disbursement to seller and refund to buyer

iii.
Marketplace operator can focus more on the core business and marketing

An ideal solution for online companies that works as an online mall, department stores platform operator, or any C2C marketplace that deals with a huge number of customers or even those who want to focus on their business strategies instead of the complexity of a marketplace.

How Escrow Payment Works?

Step 1: Integration

Marketplace operator to integrate Razer Merchant Services escrow API

Step 2: Seal the deal

Seller and buyer seal a deal and buyer pay using Razer Merchant Services

Step 3: Shipping

Seller ships the good(s) to buyer

Step 4: Raise dispute

Buyer has the option to raise a dispute through API

Step 5: Resolve issues

Marketplace needs to resolve the issue between seller and buyer

Step 6: Raise flag

Once resolved, the flags will automatically change to OKs

7. Settle funds

Razer Merchant Services will settle the funds based on marketplace instruction during settlement

8. Refund if dispute not resolved

If the dispute is not able to resolved, refund to buyer will be scheduled and executed