To make buying and selling on SWAPD even safer, we are delighted to be teaming up with Trustap, an advanced payment solution designed to enhance payment security.
How does Trustap work?
Trustap helps make SWAPD a more secure marketplace by holding funds until both the buyer and seller are happy that the transaction is complete. Think of it as a safety net for you, whether you are buying or selling!
The process begins the same, but there is now an additional option for a transaction: Trustap Secure Escrow Payment. Once both parties agree to continue via Trustap, you will be taken through some quick and easy steps to complete the transaction.
Why Trustap?
When transacting on SWAPD, it is important for both buyer and seller to agree on the method of transaction. The Trustap Secure Escrow Payment option offers benefits for both parties when transacting on our marketplace.
SWAPD isn’t being replaced by Trustap but rather it’s a partnership that will allow us to facilitate credit card and bank wire payments with even more security. Tickets will work as usual, where SWAPD staff, in conjunction with the Trustap security team, will monitor the transactions.
Crypto payments are here to stay and will not be affected. The partnership with Trustap is to bring us trouble-free bank wires and credit card payments, with an extra layer of security from Trustap. SWAPD will finally be free from the burden of being frowned upon by financial institutions, as we’re fully compliant with Trustap’s business model. Trustap is backed by Stripe – you can’t get any more secure than that.
Future Expectations: With Trustap, we expect (over time) for the volume of transactions to increase on SWAPD, as regular internet Joe’s do not understand crypto and don’t want to be bothered with slow bank wires. Trustap will be fully integrated with SWAPD systems, meaning no more waiting for payment confirmations – your tickets will confirm instantly once the payment is made. The same level of protection will be maintained, as Trustap and SWAPD have the same 24-hour grace period rules, providing enough time for buyers to vet their purchases.
Buyer Benefits
- Ultimate Security: 100% Buyer Protection guarantees secure transactions, safeguards you from non-receipt of your item, grants you the ability to request a refund, and provides access to customer support.
- Risk Mitigation: Both parties must meet their obligations before the payment is released.
Seller Benefits
- Sell More: Providing hesitant buyers with more security and reaching buyers that may not have an understanding of or be willing to transact with crypto.
- Fraud Detection: 24/7 fraud monitoring.
- Mediation and Resolution: Any dispute is mediated and resolved by Trustap.
This is only the beginning of the major changes to SWAPD. It took us seven years to finally bring credit cards, and we expect this move to increase the sales volume for everyone. We will share more details such as fees, procedures, and other specifics in the upcoming days and weeks, and we are expecting to fully roll out by the end of June.
Still have questions?
Check out Trustap’s Help Centre or contact them here.
