How VeriPay Works
VeriPay is a secure transaction service designed specifically for second-hand marketplace transactions under $1,000. Our service protects both buyers and sellers by holding funds until both parties confirm the transaction is complete.
The VeriPay Process
Buyer and Seller Agree on Terms
- Agree on the item and price
- Decide to use VeriPay as your secure payment method - the seller provides their Seller Id.
Buyer Sends Payment to VeriPay
- The seller initiates the process on VeriPay by sending funds to the Seller Id
- VeriPay securely holds the funds
- Seller is notified that funds are secured
Seller Ships the Item
- Seller ships the item to the buyer using Australia Post
- Tracking information is provided to VeriPay and the buyer
- VeriPay tracks the package for security and verification purposes
- Buyer is notified that the item is on its way
Buyer Receives the Item
- VeriPay determines that the package has been delivered
- The buyer releases funds or VeriPay automatically releases funds after 48 hours of package delivery
- If there’s an issue, the buyer can initiate a dispute
VeriPay Releases Funds to Seller
- If the buyer has not released funds, funds are automatically released 48 hours after confirmed delivery
- Both parties receive confirmation of the completed transaction
Frequently Asked Questions
General Questions
VeriPay is a secure transaction service that acts as a trusted third party for second-hand marketplace transactions. We hold the buyer’s payment until both parties confirm the transaction is complete, protecting both buyers and sellers from fraud.
VeriPay is designed for second-hand marketplace transactions under $1,000. This includes items sold on platforms like eBay, Facebook Marketplace, Craigslist, and other peer-to-peer marketplaces.
VeriPay charges a fee of $1 or 1%, whichever is higher, to both the buyer and the seller. This fee applies to each transaction.
There are no hidden fees or additional charges.
To minimize international scam and fraud risks, VeriPay only accepts Australia Post as the shipping method. This allows us to reliably track packages and verify delivery, ensuring a secure transaction process for both buyers and sellers.
For Buyers
VeriPay holds your payment in a secure account until you confirm you’ve received the item and it meets the agreed-upon description. If there’s an issue, you can initiate a dispute before the funds are released to the seller.
If the item you receive doesn’t match the description or has undisclosed issues, you can initiate a dispute within the inspection period. Our team will review the case and work with both parties to reach a fair resolution.
The standard inspection period is 2 days from the confirmed delivery date, but this can be adjusted when setting up the transaction. For more complex items, we recommend a longer inspection period.
VeriPay automatically tracks all packages sent through Australia Post for security and verification purposes. This allows us to confirm delivery and ensure the transaction proceeds smoothly.
Our seller rating system allows buyers to rate sellers on a scale of 1 to 5 stars (5 being excellent, 1 being poor). Before funds are released to a seller, buyers must provide a rating based on their transaction experience. These ratings create a transparent trust indicator, allowing you to see how previous customers have evaluated a seller’s reliability and service quality. All ratings are displayed prior to depositing funds, helping you make informed decisions before committing to a purchase.
For Sellers
VeriPay verifies that the buyer has the funds before you ship the item. Once the buyer confirms receipt and satisfaction, the funds are released to you promptly. This eliminates the risk of chargebacks or payment disputes after shipping.
Funds are typically released within 24 hours after the buyer confirms receipt and satisfaction with the item. If the buyer doesn’t manually release the funds, they will be automatically released 48 hours after confirmed delivery. Once released, the funds will be transferred to your designated account within 1-2 business days, depending on your bank.
If the buyer doesn’t confirm receipt, VeriPay will automatically release the funds to you 48 hours after the tracking shows delivery, provided there are no open disputes.
As a seller, your reputation is built through ratings from buyers who have completed transactions with you. New sellers begin without any ratings. After each transaction, buyers must rate you on a scale of 1 to 5 stars before funds are released. These ratings contribute to your overall reputation in our marketplace, with higher ratings typically leading to increased buyer trust and potentially more sales. We encourage maintaining excellent service to build a strong rating profile.
Disputes and Resolution
Either party can initiate a dispute through their VeriPay account. Our team will review the case, request evidence from both parties, and work toward a fair resolution. Most disputes are resolved within 3-5 business days.
The process for commencing or managing a dispute is available here
We recommend that sellers purchase shipping insurance for valuable items. If an item is damaged during shipping, the buyer should document the damage immediately and contact both the seller and VeriPay. The resolution will depend on the shipping insurance and the specific circumstances.
A transaction can be cancelled if both parties agree and the item hasn’t been shipped yet. If the item has been shipped, the transaction must proceed through the normal process or dispute resolution.
Security and Privacy
VeriPay uses bank-level encryption and security measures to protect your personal and financial information. We never store complete credit card information on our servers and comply with all relevant data protection regulations.
Yes, VeriPay uses secure payment processing systems that comply with PCI DSS (Payment Card Industry Data Security Standard) requirements. Your payment information is encrypted and protected throughout the transaction process.
VeriPay only shares the minimum information necessary to complete your transaction. We never sell your personal information to third parties. Please refer to our Privacy Policy for more details.
Still Have Questions?
If you have any other questions about VeriPay’s transaction service, please contact our support team. We’re here to help!
