M Lhuillier‘s finance application ML Wallet recently rolled out a new feature called ShopSafe which aims to prevent payment scams by providing a new way to ensure a secure and legitimate transaction between buyers and sellers.
Through ShopSafe, ML Wallet offers an online escrow service. Escrow refers to an arrangement where a third party keeps money or a property until a particular condition is met.
ShopSafe eliminates limitations among buyers who commonly search for sellers in areas within their proximity for face-to-face transactions to ensure that an item is in good condition before they hand over their payments.
Here's how the ML Wallet ShopSafe works:
- Buyer initiates ShopSafe invite through the Start Transaction button. This requires the mobile number of the seller.
- Seller accepts and inputs item details
- Shop Safe holds on to the payment
- Seller drops of the items
- J&T ships the items
- Buyer is notified for item pick-up
- Shop Safe releases payment to the seller
Among the e-commerce platforms supported by ShopSafe include Facebook Marketplace, Instagram, Carousell (formerly OLX), and more.
The ShopSafe dashboard on the ML Wallet app makes it easy for customers to track different kinds of transactions like those that are ongoing, completed, cancelled, and returned.
Each ShopSafe transaction comes with a shipping fee from P195 plus a 1% insurance valuation for up to 3 kilograms of packages to P8,000 on top of a 1% insurance valuation for 50 kilograms of items.
There’s also a ShopSafe fee for only P50.00 for items ranging from P0.01 to P50,000 and, respectively, on top of the agreed price plus shipping fee and return shipping discount.
ShopSafe is one of the services that M Lhuillier offers under its logistics venture, ML Moves, which was launched in 2015.
ML Moves also accommodates walk-in transactions for parcels bound for domestic and international destinations and e-commerce solutions including item returns, branch pick-up, and sellers drop-off for online shopping platforms Lazada and Shopee.
According to the company, M Lhuillier continues to boost its mission as the “Tulay ng PaMLyang Pilipino” by bridging families not just through money lending and money transfer services but also with logistics solutions.
To know more about ML Moves and ShopSafe, visit https://mlhuillier.com/ml-moves/.
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