With the rapid surge in global economic activities, B2B cross-border e-commerce has grown by leaps and bounds, and overseas buyers can now avail of a great deal of convenience and numerous benefits. However, overseas buyers are mostly bothered about online payment security issues and scams which are quite common in cross-border transactions. ECVV Safebuy service provides third-party cross-border guaranteed transaction services to give an all-round protection to buyers’ rights, interests and to assist them to feel more at ease during making payments.
“I created the order and the supplier changed the price of my order to 50% higher price, saying there were small mistakes of price please check the price list. if you forget to verify the final price and make order, money is gone. Be aware!!!”
Scam 1. “I got scammed on a b2b website for ordering 20 macbooks and I paid $400 for each. The guys told me to send money by MoneyGram and I paid them and then they never shipped me the goods and disappeared. ”
Scam 2: “I created the order and the supplier changed the price of my order to 50% higher price, saying there were small mistakes of price please check the price list. if you forget to verify the final price and make order, money is gone. Be aware!!!”
Read More: Entrust Datacard Solves Evolving Identity and Encryption Needs with Latest PKI Platform
The process of guaranteed payment is as follows: Step 1. Buyer orders through ECVV Safebuy. Step 2. Buyer pays to ECVV designated bank. Step 3. Buyer confirms the receipt. Step 4. ECVV releases fund to supplier.
Recently, ECVV Safebuy service has been newly upgraded to SaaS deployment mode which provides visualized, electronic and digital online transaction to further ensure the payment security for clients. Compatible with all the popular third–party collection channels, ECVV Safebuy supports T/T(HSBC), PayPal, payment in local currency and other methods. With ECVV Safebuy, customers have the liberty to choose how to pay. Local currency payment is supported in the United States, Europe, UAE, Bahrain, and many other Middle Eastern countries, as well as India and Southeast Asian countries.
Read More: GlobalFintechSeries Interview with Patrick Turiano, Director of Marketing at Paysafe Group
