Wednesday, January 27, 2010 introduces escrow payment system

For online shoppers like me it is important for us to be protected from sellers who cannot deliver what we ordered. I am once a victim of that kind of scene where I bought something online but my product is not similar on what I ordered. But recently I discovered a platform created by that will strengthen business relationship between the sellers and the buyers on a Business-to-Business-to-Consumer-to-Consumer (B2B2C2C) platform where both sides benefits.

With the escrow payment system, will pay the sellers on a 7-day time frame where the buyers is contented with the product he or she purchased. Aside from the escrow there is also a system in that allow the sellers to post the number of items on their stocks so that it will help the buyers to know how many remaining are left in the items they are planning to purchase.

Aside from the buyers benefit, also gives perks to the sellers where there are two options on how a seller can earn a lot with the website:

Be a seller – you can sell on with you products.
Be a re-seller – you can re-sell or promote the products on on your page like I am doing on my page and you will earn by 10% of what the seller earns when the buyers bought though your page.
The system is not complicated, it will be easy for the non-technical sellers.

Joining the website is free but for those who wanted to boost their selling strategies, service cost 25,000 pesos on a starting kit, it may sound costly but with the amount that you’re going to pay with SMILDS will benefit you much. The starter kit will let you upload fifty photos and personalize you’re page by putting your logo, embed videos, have your own banner ads additional set-up, logistics, and technical requirements that the group will give you.

Unlike other online shops, is linked to LBC and has more that two payment system like paypal and credit card, SMILDS has Smart Money, Globe G-cash, and ATM/ Debit cards.

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