It’s simple: a client pays for their work before it’s delivered and we hold on to the money in the interim. When the order is delivered to the client - and the client is happy with the work - we forward the payment to you, the freelancer.
No money changes hands until you, the buyer, are happy with your order. This means you can receive payments back if the order is never delivered, or is not delivered properly.
There are some protections put in place for both freelancers and clients: we have to monitor what is an acceptable order, and what is not. It’s recommended that all freelancers watermark their work before sending it, regardless of the relationship with the client. This obviously varies from order to order.
Paynco holds on to the payment until the seller approves the order. We then send the payment within a short window.
Paynco is a third-party platform for digital contracts and service agreements between freelancers and clients. We handle the money so neither party has to. This guarantees security for the clients, and money safety for freelancers. It also acts as a platform where freelancers and clients can discuss orders and make future arrangements.
At Paynco we believe in transparency: there is a service charge for the service. However, unlike other platforms, we offer the opportunity to decide who pays the fee. This can be arranged via our platform. So it could work as a 50/50 split between the freelancer and client. The fee is proportional to the sum of money exchanged.
Because of the nature of credit card and PayPal payments, we only offer support for these types of payments when they are not over $5000. This is to protect clients and freelancers.
In short, yes. Although the entire amount must be sent to Paynco by the buyer. The payment can then be split up as part of our milestone payment system. This protects buyer’s funds and makes sure that the freelancer is receiving their funds on time. We do have an additional fee for each transaction made, so it makes sense to send all payment at once.