SWAPD is a trusted middleman service dedicated to offering our users the safest way to buy, sell, or trade items and services of virtual nature. SWAPD opens doors for you to earn and rise to fame in the digital universe by connecting you with vast network of buyers, sellers, and opportunities.
We will keep this short and brief. Starting March 8th, 2024, we’re changing our refund fee policies. Since the inception of SWAPD, sellers who failed to deliver were responsible for covering all fees associated with the money transit. However, we’re forced to change this now. All refund fees will now be covered from the buyer’s deposit.
First, let’s go over the reasons why we’re doing it:
The most important reason is our new payment processor. We’re going in deep with our new partner, who will bring a whole range of new payment options, including credit cards (at a 3.4% rate, which is still cheaper than PayPal, which charges 4.9%). They will not allow us to tack fees onto sellers; their system doesn’t even allow it.
Our accounting firm hates this. Tracking fees that were tacked onto buyers seriously creates mayhem for our billing department, accountants, and the IRS.
Many times, sellers rack up a negative 100-200 USD balance and just quit using SWAPD, thus leaving a hole in our budget.
This ends now, so sellers (and buyers) will need to take appropriate steps to prepare.
Sellers will be encouraged to take on more no-prepayment tickets, for services they aren’t sure of. Remember, our crypto gateway charges 1% + network fees. So, buyers are bound to lose a lot on high-ticket items. This may result in lots of possible negative feedback for sellers.
Buyers need to use proper caution and vet their sellers. Check for feedback, ask for a track record, so you don’t end up losing a tiny fraction of your deposit.
We know this change won’t be welcomed, but we have to pick the lesser of two evils. You want CC’s/wires/GPay, and Apple Pay? Well, this is the price. This is not the end of the world, and there are ways to combat this, whether it’s via the tips we’ve mentioned above or by (for example) giving buyers a Refund Fee Guarantee (yes, we will allow sellers to cover buyers’ losses directly, if needed).
Thank you for reading.
P.S. Ongoing tickets still fall under old rules. These changes apply only to new tickets.
To streamline your invoicing process, you can implement a checkbox feature at the beginning of each ticket to indicate whether the client is a business or individual.
When the customer is a business then seller and swapd automatically deliver an invoice when the service or transfer is completed.
Maybe also consider allowing us to save invoice details on our profiles, so sellers and Swapd admins can generate them more quickly.
Why don’t you take a commission from sellers who say that the service is 100% successful and then the service fails.
In such a situation the buyer loses both your commissions and the commissions of the sending
I’ve been proactive about this and support it as the right move. For instance, I’ve already incorporated terms like these into tickets for services that I don’t fully guaranteed, albeit for different reasons (to limit monetary liability):
“Due to the nature of the service, if the account is not reinstated, buyer agrees not to leave feedback less than 4 stars based on deliverability. Also, any “canceled” transaction fees should be debited from buyer vs the seller.”
This setup gives buyers leverage, which benefits the community overall. If a seller is confident in their ability to deliver, as a buyer, I’d simply request them to cover any transaction fees if the service falls through. Sellers who agree to this are likely more confident in their ability to deliver, ultimately saving everyone time.
But some sellers insist that it is 100% success And you believe them And in the end they don’t succeed. I think there should be a financial penalty for such sellers
after you doing your service, or do you reverse the service like verification or unbans?
