How to Use Kusnap Escrow Services

Online transactions often come with risks, especially when dealing with unfamiliar buyers or sellers. The issue of non-delivery, “what I ordered vs what I received,” and refusal to make payments after receiving goods has made Nigerians skeptical of partaking in online transactions.

To address these concerns, Kusnap provides an escrow service, ensuring safe and secure transactions. With this service, Kusnap acts as a middleman, holding the buyer’s payment until both parties are satisfied with the transaction.

This article provides detailed guide on what the Kusnap Escrow is and how to use it to protect your deals.

What is an Escrow Service?

An escrow service is an arrangement where a third party holds and regulates the payment of funds involved in a transaction. This ensures that the buyer and seller can complete the transaction under the agreed conditions without the risk of fraud or non-delivery.

At Kusnap, we provide a trusted Escrow payment system that protects both buyers and sellers, ensuring secure, transparent, and worry-free transactions.

How Does Kusnap Escrow Services Work?

Trust can be a challenge in online marketplaces. Buyers worry about paying for products that don’t meet their expectations, and sellers hesitate to ship without guaranteed payment. Kusnap Escrow bridges this gap by ensuring secure, reliable transactions for both parties.

Like many other escrow services, Kusnap Escrow works for both the buyer and the seller. Here’s the process: A buyer makes payment into the Kusnap escrow account, and we inform the seller that payment has been received so they can ship the product. Once the buyer receives the product and confirms their satisfaction, the money is released to the seller.

Why You Should Use Kusnap Escrow Services

As a buyer, here are key reasons why you should use Kusnap Escrow services:

1. Security

The Kusnap Escrow services add an extra layer of security to the transaction by holding payments until both parties are satisfied. So, you’re rest assured that your money won’t be released to the seller until you’ve confirmed your satisfaction with the product.

2. Trust

Trust is one of the key benefits of the Kusnap Escrow services. Even with the skepticism associated with buying things online in Nigeria, the Kusnap Escrow services give you the confidence to engage in online transactions, knowing your money is secure.

3. Peace of Mind

There’s this level of peace that envelopes your mind as you make online transactions using Kusnap Escrow Services. You know you’re not taking the usual risk of completely trusting online vendors to deliver products that look exactly like what you ordered.

As a seller, here are the key reasons why you should use Kusnap Escrow services:

4. Guaranteed Payment

Kusnap Escrow gives you the confidence to ship your products, knowing that the payment is securely held and will be released once the buyer confirms receipt.

You’re guaranteed that your product is safe. If it’s not delivered, it will be returned to you in good condition.

5. Fewer Disputes

Kusnap ensures every party involved understands the clear terms and conditions of the escrow service. This reduces the likelihood of misunderstandings and disputes during the transaction. With the buying party aware of the terms, you will surely enjoy a seamless selling experience on Kusnap.

6. Reliable Cash Flow

Once an order is made, you deliver and the buyer confirms the satisfactory receipt of the product, you’re sure of your cash inflow. This is unlike many other online businesses, where the buyer receives the product and blocks you from contacting them for payment.

How to Use Kusnap Escrow Services

Here’s how to use the Kusnap Escrow Services:

1. Set Up an Account on Kusnap

To use the escrow service, you must first have an account on Kusnap. If you haven’t registered, visit the Kusnap website and sign up as either a buyer or a seller.

Once your account is set up, you can access the escrow feature when making or receiving payments.

2. Initiate an Escrow Transaction

Once you’ve signed up on Kusnap and chosen the product you want to buy or sell, initiate the transaction by selecting the escrow payment option.

Either the seller or the buyer can initiate the escrow payment option on Kusnap.

3. Buyer Makes Payment

After agreeing on the terms of the transaction, the buyer deposits the agreed amount into Kusnap’s escrow account. The seller is notified that the funds have been placed in escrow, signalling that the buyer has paid, but the seller won’t receive the money yet.

4. Seller Ships Product

Once the buyer has deposited the payment, the seller is responsible for shipping the product or delivering the service as agreed. During this time, the buyer can track the shipment or confirm that the service is being provided.

5. Confirmation and Release

After receiving the product or service, the buyer inspects it to ensure it meets the agreed-upon conditions. Once the buyer is satisfied, they can confirm the delivery through their Kusnap account.

When the buyer confirms that the product or service has been delivered as expected, Kusnap releases the payment from escrow to the seller. This marks the completion of the transaction. If there are any disputes, Kusnap’s support team can step in to mediate.

How to Get Kusnap Support

Should any dispute arise during the transaction, whether you’re a buyer or seller, you can contact Kusnap support for immediate resolution.

You can reach Kusnap Support via:

●???? Live chat: Initiate a chat on Kusnap, and a team member will respond immediately.

●???? Email: [email protected]

You can also check out the Kusnap comprehensive FAQ section for answers to common questions about the Kusnap Escrow dispute resolution service.

How Much Does Kusnap Escrow Cost?

Kusnap charges a small escrow fee of 1.5%, capped at N2,000, for all transactions. The payment helps keep the platform safe and reliable for future transactions.

Conclusion

Kusnap’s escrow service provides a secure and trustworthy way for buyers and sellers to conduct transactions with peace of mind. By acting as a neutral third party, we ensure that payments are only released once both sides of the transaction are completed satisfactorily.

Whether you're a buyer or seller, using Kusnap Escrow is a smart way to protect yourself and your business.

Ready to get started? Sign up or head over to the Kusnap Store to initiate a transaction.