At the end of November, Marktplaats will launch the escrow service 'Gelijk Oversteken' in collaboration with Online Payment Platform (OPP). This temporarily holds the buyers' payment on an escrow account of OPP until the product or service has been received. The buyer makes the notification after receival of the product or service and OPP transfers the payment to the account of the seller. Marktplaats offers this service in combination with iDEAL payment requests, a service that has been launched earlier this year. In doing so, Marktplaats is innovatively making online trading easier and more safe for all of its users.
Higher chance of a good deal
Not everyone feels comfortable with paying in advance for a product that has not been sent. The other way around, sellers often hesitate to send a product without the received payment. Conversations with users of Marktplaats show that they are often looking for trading in their own surroundings. They indicated that they prefer picking up the purchase. With the escrow service 'Gelijk Oversteken', the distance is not necessarily a barrier anymore and the complete supply on Marktplaats is within reach. Buyers therefore can profit from price differences among various regions in the Netherlands. 45% of buyers on Marktplaats already provide shipment and pick-up as a possibility.
Faster shipment by payment insights
For using the escrow service Gelijk Oversteken, the buyer pays 2% on top of the agreed purchase amount. Both buyer and seller immediately receive a confirmation of the payment in the Marktplaats-app on their phone. With that security, the seller can immediately ship the purchase. In the app, both parties can follow the transaction, from payment to shipment and receival.
At the point where buyer makes a notification on receiving the package, OPP transfers the payment to the seller. If the buyer does not send a confirmation, the payment is automatically released to the seller within 7 days.
If the buyer has not received anything, OPP verifies the status of the shipment with the Track&Trace code. If the seller is not able to discuss a Track&Trace code, OPP will refund the purchase amount to the buyers' account.
The escrow service Gelijk Oversteken can only be used in combination with iDEAL payment request via Marktplaats (launched earlier this year). To send a payment request, sellers register at Marktplaats via OPP. OPP then verifies the bank account number and telephone number of the seller. This ensures buyers with the certainty of who they are trading with.
Online Payment Platform facilitates secure and reliable payments. OPP is doing this for various large (trading)platforms and marketplaces. OPP his licensed as Payment Service Provider by the Dutch Central Bank (DNB) and is certified as Collective payment Service Provider (CPSP) on behalf of iDEAL by Currence.
Monthly, Marktplaats is receiving approximately 8 million unique visitors and thus is the largest online trading platform in the Netherlands. Daily, around 350.000 new advertisements are published on the website, where individual and commercial traders are ensuring a large and diverse range of new and second hand supply.
For more information, visit www.marktplaats.nl.