Use escrow when listing merchandise on auction sites

Online selling of your merchandise can be a fabulous way to open up new streams of income, however upward trends in the rates of fraud and online theft can expose the business to greater risk if you don't secure yourself. This is particularly true if you often use auction sites to display your stocks or manage an independently-owned online store instead of selling through sites like Amazon.com.

More sophisticated advancements for protecting online transactions are being produced all the time. However methods of theft are growing adopting more refinements. Felons quickly learn to go against new security systems and hit upon new schemes to defraud people out of cash and merchandise.

Utilising an escrow service can significantly lower your risk when selling merchandise online. This is particularly true in the case of big-ticket merchandise like electronics, video game consoles, jewellery, watches and similar items, or if you often exhibit goods on an auction site like eBay. In fact, eBay endorses going through online escrow services for such items. An online escrow service arranges things so that neither vendor nor purchaser acquires control of both product and payment simultaneously, which gives both of you confidence.

When working with an escrow service, there is still need to exhibit your products on your own web site or an auction site, but when a customer elects to purchase your articles you close out the transaction on the escrow service's site. The escrow firm is a neutral third party who can handle the transaction safely and assure the two parties are protected and satisfied. For a small fee, you can register your deal with an online escrow site and the customer remits his funds to the escrow service instead of paying you directly. The escrow service verifies the fund transfer before you deliver the goods. When the consumer confirms receipt of the items and acknowledges it, the escrow firm relinquishes custody of the payment in your favour.

This way both you and the buyer are safeguarded. You receive notice that the payment is already deposited before shipping your goods. There's no need to be concerned about charge backs, bad checks, fraudulent payments or non-payment. The purchaser can ensure his gratification with the products, before instructing the money to be transferred to your account. And since you won't receive any customers' credit card or banking information, there's no need for you to worry about storage requirements or about identity thieves breaking into your site and copying that information.

Every so often, fraudsters attempt to con suppliers of products by utilising fake escrow services that pretend to have received money and advise you go ahead and ship the items. If a shopper prefers to go through an escrow service of his choice, confirm it's legitimate. Search the web for independent citations like reviews, articles and directories that indicate it has been in operation for a while. Check a WHOIS database to ascertain the owner of the web address is the escrow service. Also, verify the site is protected with 128-bit data encryption - its URL (address) must begin with "https://".

Moreover, your escrow experience will be more positive and gratifying if you select an escrow service with these features:
* A dispute resolution service to help you and the shopper iron out any issues that may come up
* Many payment options, including credit cards, debit cards, and wire transfers
* An easy-to-use and dynamic interface that enables fast and easy conduct of business.
* Multi-currency features that allow remittances in the leading global currencies, including EUR, USD & GBP - especially if you ship products to people in other countries
* Detailed support and FAQ section
* Thorough transaction instructions

PayPrimo.com is a fine example of an online escrow service that possesses all these necessary features. PayPrimo also presents a transparent fee schedule that makes it simple to calculate the fees due and provides many payment options, including credit card, debit card, and wire transfer. In addition to the up-to-date security and easy to use features, PayPrimo also operates an affiliate program that enhances your use of PayPrimo with all your online trades.

Find out more about how to sell merchandise with online escrow here. PayPrimo provides premier internet escrow services, global transactions and multi-currency escrow functionality.