Important Update for All Sellers on SWAPD
We want to remind you of a crucial policy change regarding non-delivered services. Please read carefully:
Increased Refund Fees for Non-Delivery:
- If you fail to deliver a service, you will now be responsible for a significantly higher refund fee.
- Example: A recent 47K USD service was not delivered, resulting in a mandatory refund. The seller is liable for the 1% fee charged by CoinPayments, amounting to 470 USD in this case.
Why This Change?
- CoinPayments, our payment processor, charges a 1% fee on incoming payments. Sellers must cover this fee in cases of non-delivery.
- We understand this may seem harsh, but we have limited options. CoinPayments is one of the few companies willing to work with a platform like SWAPD, and they offer competitive rates. Also, due to EU regulations, we’re forced to use 3rd party payment merchants.
What This Means for You:
- Assess your ability to deliver services realistically. If you’re unsure about successful delivery, it’s best to reconsider offering the service.
- Sellers are responsible for all fees incurred during non-delivery situations.
We are bound by regulations to use third-party payment merchants, and CoinPayments is our chosen partner. We appreciate your understanding and cooperation in this matter.
Please consider your service offerings carefully to avoid these additional charges.