Transactions with new customers and suppliers or service providers are risky.
Suppliers and service providers want to expand sales to new customers. Buyers want to source from the best options they can find, anywhere in the world. However, a transaction with a new customer or a new supplier / service provider is risky.
Suppliers and service providers worry, "will my customer pay?" And buyers and clients are concerned, "will I get what I paid for?"
Payoneer Escrow eliminates this risk for both the buyer and the seller.
Buyers can pay with confidence, knowing that their supplier or service provider only gets paid if they deliver as expected. And sellers and service providers can deliver goods or services with the certainty that payment has already been made.
Payoneer Escrow ensures that both sides are protected. Plus, the integrated dispute platform ensures fair, transparent, and quick outcomes for any disputes that arise.
Buy or Sell securely on Global B2B Marketplace EC21
by using Payoneer Escrow Payments
How escrow works?
Buyer and Seller agree to transaction terms in Trade Inquiry Center
Buyer pays to secure Payoneer Escrow account
Seller ships goods, provides service, or transfers domain name
Sellers need to first set the Escrow Protection Setting to use the service. Go to My EC21 > Basic Service > Escrow Protection Setting. Click ‘Setup Payoneer Escrow’ button and accurately complete the information within each lightbox.
Most sellers are approved within several hours, however, it may require 1-2 business days for approval. You can check your status on Escrow Protection Setting page, and check your email inbox for communication from Payoneer if they have additional requests for information regarding your registration.
Visit the Trade Inquiry Center to view inquiries from buyers
View your inquiries and orders from buyers by visiting My EC21 > Basic Service > Trade Inquiry Center.
Once you’ve reviewed the order, either accept or adjust the attributes, add shipping information, and complete the final request section to send the order back to buyer.
After the buyer or seller clicks the “Confirm Order” button, the Escrow phase will begin.
Complete the required fields and send your order inquiry to the seller, which starts the negotiation process. The seller will review your offer, then either proceed with your order or send an adjusted proposal.
Once the order is confirmed, the buyer will be notified to pay the amount of the order into escrow. Sellers will receive an email once funds are received and held in the secure Payoneer escrow account.
After the seller submits their shipping information, Payoneer will track the shipment of the goods to the buyer. When the buyer receives their order, Payoneer will send an email to the buyer to release the funds from escrow to the seller. Once the goods are delivered, the buyer has three business days to review their order and release funds from escrow or dispute the transaction. If the buyer doesn’t take any action, Payoneer will automatically release the funds at the end of the three-day review period.
EC21 offers secure payments through Payoneer, a licensed payments business based in the U.S.A.
Once the order on EC21 has been confirmed, transfer the agreed payment to the Payoneer escrow account, where the funds will be held securely. Sellers are notified to ship your order once the funds have been received by Payoneer.
Sellers will ship the goods and add tracking information within EC21. Once the goods are delivered, the buyer will receive an email from Payoneer to visit EC21 and either release the funds from escrow to the seller or dispute the transaction.
When the buyer visits EC21 after the order is received, they can either release the funds from escrow or dispute the transaction. If the buyer is satisfied with the delivery, the buyer chooses to release the funds from within the EC21 site. If the buyer is not satisfied with the delivery, a dispute can be initiated and communicated to the seller. Funds will then be held in escrow until the dispute is resolved.
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