These days, a lot of people like to buy and sell items online. Whether in social media networks or websites which are dedicated for buy and sell. And why not? for buyers, that means lower prices, and minus the hassle and costs of having to travel. For sellers, they’re able to reach more people without having the cost of ads or marketing.
There are cases however, wherein people take advantage of others, a common case is when a seller asks the buyer to pay first through a courier, and upon receiving the money, the seller never ships the item or ships a fake/defective item, and then disappears from contact.
To prevent this and many other more forms of fraud, Dragonpay has came up with a brilliant idea in the form of SureTayo, the Philippine’s first genuine escrow service for transactions between individuals.
With SureTayo, sellers can accept payments from different channels, under a Dragonpay’s trusted network of more than 15,000 partner locations including major commercial banks, remittance centers, groceries, and supermarkets.
They will also be able to streamline their business by being able keep track of every transaction online. It also increases trust from sellers as they know that payments will be made in a globally-recognized platform.
Before a seller can use the site, they are also asked to present valid ID’s upon registration so that SureTayo can vouch for their identity.
For buyers, SureTayo ensures that you are buying from real, and verified sellers. Upon registration, Sellers are required to present valid ID’s and a bank account, which is also verified by a bank officer.
You won’t be paying directly to the seller but rather, the system will collect your payment, and only upon confirmation of the receipt of the item you’ve purchased will the money be credited to the seller.
In short, if for any reason, you are not satisfied with the item you bought, or the item does not arrive on time/at all, you can opt to cancel the transaction and get your money back.
So How Does it Work?
Step 1: Before using the service, a seller must first register an account with SureTayo (To register as a seller, click here). During registration, the seller will be asked to provide a photo of a valid ID, a bank account number, and proof of account ownership for verification purposes.
Step 2: Upon successful verification, the seller’s account will be activated, and he/she will now be able to start receiving payments using SureTayo.
Step 3: The seller can then include a note in his selling page that he/she accepts online payments for any item that he/she sells. When an interested buyer comes in and a deal is finalized, the seller will then send an email billing using SureTayo.
The following information will be required from the buyer:
- First and last name
- A valid email address
- Contact number
Step 4: The buyer will then click on the link provided in the email, and will be re-directed to Dragonpay’s Payment System, wherein he/she can choose the method of payment to be used.
Over the Counter/Online Banking
- Security Bank
- EastWest Bank
- Sterling Bank
Over the Counter Non-banks:
- Bayad Centers
- LBC Branches
- SM Payment Counters
- Robinsons Department Stores
- Cebuana Lhuillier
Step 5: After payment, the seller will then receive an email confirmation, and will now ship the item or schedule a meetup with the buyer. An email will then be sent to the buyer to confirm that he/she has received the item.
Step 6: Once the item has been received and checked by the buyer, he/she clicks on the confirmation link in the email, and the money will then be released to the seller, completing the transaction.
For the complete list of Frequently Asked Questions, click here. For more information regarding SureTayo, you may visit https://suretayo.ph/ or their Official Facebook Page. You can also send an email to firstname.lastname@example.org.
So what are you waiting for? try it out now!
Disclaimer: This is a paid advertisement