[merXu Protected Payments] How merXu Protected Payments functionality works?
Step 1: Find product
- Once you've found the product you want to purchase, you'll come across the product card. In the terms of the offer, you will find payment methods. Check if merXu Protected Payments is available for this offer.
- Remember that once you start chatting with the seller, you will be able to propose a different settlement currency. Then the availability of payment methods may change.
Step 2: Initiate an Inquiry
- To kickstart the negotiation process for transaction terms with the seller, you need to initiate an inquiry by clicking “Send inquiry” button. This action will transfer you to a chat with the seller.
Step 3: Chat with the Seller
- Once in the chat, you'll need to select the shipping address and await the seller's response to your inquiry.
- Set the currency for this transaction
Step 4: Make Your Payment
- When the seller responds, you can proceed by choosing a payment method. It's crucial to select one of the protected payment methods listed at the top of the options. Follow the provided instructions to complete the payment.
Step 5: Consent to Terms
- Don't forget to provide your consent to the terms outlined in the merXu Terms and Conditions - Appendix Number 5 for electronic payment or Appendix Number 6 for payment by bank transfer
Step 6: Complete the Payment
- After successfully making the payment, you can check your order summary HERE.
Here, you'll notice that the funds are now held in the Protected Payments account. You can also monitor the status of your payment on the chat page with the seller HERE. Relevant information is displayed on the right side of the page. If you wish to see more details, click the 'View' button.
Step 7: Confirm Receipt
- Within a period of up to 2 days, once the funds are confirmed, you will receive notifications prompting you to confirm the receipt of the ordered goods. To ensure a smooth transaction, it's essential to confirm the receipt of the goods. If you do not confirm within 30 days of payment or if there are no reported issues with the goods, the money will be transferred to the seller. You can also confirm receipt on the order summary page.
Step 8: Finalizing the Transaction
- Confirming the receipt of your order finalizes the transaction and releases the funds from the Protected Payments account to the Seller's bank account.