An eWallet is an electronic wallet that allows users to store and manage their money digitally. It is a convenient and secure way to make transactions on an online marketplace.
To ensure the safety of all transactions on our online marketplace, we offer an escrow service that works in conjunction with our eWallet system. An escrow service acts as a neutral third-party to hold and manage funds until a transaction is complete.
When a buyer purchases an item on our marketplace, the funds are held in the escrow account until the seller confirms that the item has been shipped or delivered as described. Once the buyer receives the item and confirms its condition, the funds are then released to the seller.
Using an escrow service ensures that both buyers and sellers can trust that funds will only be released once the terms of the transaction have been met. This adds an additional layer of security and peace of mind for all parties involved in a transaction.
Our eWallet system further enhances security by allowing users to securely store their payment information and make transactions without having to disclose sensitive financial information. Users can easily add funds to their eWallet account using various payment methods and use those funds to make purchases on the marketplace.
By combining an eWallet system with an escrow service, we can offer a secure and convenient way for buyers and sellers to transact on our online marketplace with confidence.