TradeSafe Payment Gateway

TradeSafe, backed by Standard Bank, provides an escrow payments-based solution that integrates seamlessly with your existing Magento store.

With an average documented cart abandonment rate of 70%, it’s reported that many South Africans are becoming fearful when buying online. This is where we come in. TradeSafe bridges the trust gap and eliminates the fear when customers want to make payment upfront in full, online. We give your customers the peace of mind that they will receive what they paid for, leading to a boost in purchase confidence, and ultimately improving conversion rates.

Features

• The TradeSafe plugin includes several payment gateways namely Ozow (Instant EFT), Visa/Mastercard, PayJustNow (Buy Now Pay Later), SnapScan and normal EFT, with many more to come.
• Confirmation email sent to buyer to acknowledge receipt of goods or service.

How It Works

• At checkout, the customer chooses to pay using TradeSafe.
• The customer will be directed to a payment page, where they choose their payment option namely EFT, Instant EFT (Ozow), Card, SnapScan, and Buy Now Pay Later (PayJustNow).
• Once payment is successful, the order is marked as PROCESSING and delivery is kicked off.
• When delivery has been completed, a new state called DELIVERED is reached. This triggers an email and sms which TradeSafe will send to the customer, asking them if they received what they ordered.
• If yes, TradeSafe releases the funds to you, and/or your vendors if trading in a multi-vendor setup.
• The customer has 24 hours in which to make their decision. If we do not hear from the customer within that time, TradeSafe will deem this as acceptance on the buyer’s part and automatically release the funds to you.
• If the customer is unhappy with the order, then the customer can submit a comment. The transaction will then be placed on hold in WooCommerce. This will give you the opportunity to enact your own return policies until a successful resolution has been achieved.
• No refund will be processed without your consent. TradeSafe performs all refunds on your behalf. We take away this admin burden.
• The buyer must have a material complaint and provide evidence. We will release the funds to you in the event the complaint/issue is non-material or frivolous.