At Kippit Pay, we are committed to providing our customers with safe, secure, and efficient escrow services. This Payment Policy outlines the terms and conditions that govern the use of our services, including how payments are processed and the responsibilities of both buyers and sellers.
Kippit Pay uses a secure payment gateway to process all transactions. Our payment gateway is PCI compliant and adheres to strict industry standards for security and data protection. When a payment is made, the funds are transferred to a secure, third-party account that is held in escrow until the transaction is completed.
In the event of a payment dispute, Kippit Pay will work with both the buyer and the seller to resolve the issue in a timely and fair manner. If the buyer does not receive the goods or services as described, or if the goods or services are not as described, the buyer may be eligible for a refund. If the seller disputes the refund, Kippit Pay will investigate the issue and make a determination based on the evidence presented.
Kippit Pay charges a fee for the use of our escrow services. The fee is based on a percentage of the total transaction amount and is paid by the buyer. The fee covers the cost of processing payments, maintaining our payment gateway, and providing customer support.
Kippit Pay has a limit on the amount of money that can be held in escrow for a single transaction. The limit is determined based on various factors, including the risk associated with the transaction and the amount of funds available in the escrow account. If a transaction exceeds the payment limit, Kippit Pay may require additional information from the buyer and seller to ensure that the transaction is legitimate and secure.
Once a transaction is complete and both parties have agreed to the terms, the funds held in escrow will be released to the seller. Kippit Pay will disburse the funds to the seller's designated account, minus any applicable fees.
If a payment is canceled by either the buyer or seller, the funds held in escrow will be returned to the buyer, minus any applicable fees. Kippit Pay reserves the right to cancel a payment at any time if we believe that the transaction is fraudulent or violates our terms of service.
Kippit Pay takes payment security seriously and uses industry-standard security measures to protect our customers' data. All payment information is encrypted and stored in secure servers. We also regularly monitor our payment gateway for any potential security issues and take immediate action to address any issues that arise.
By using Kippit Pay's escrow services, you agree to the terms and conditions outlined in this Payment Policy. If you have any questions or concerns, please contact us for further assistance.