How do payments via Tazapay work?

You can choose between direct payment or escrow when handling transactions on your platform.

Direct payment

• The buyer can select the product or service and make a payment like any other online checkout option (available payment methods depend on the buyer’s country and the amount of money to be transferred).
• The seller is able to receive their payment in the seller's preferred bank account, whether in USD or their local currency.

Escrow payment

• The buyer and seller agree to the terms of trade, and the buyer first pays to the escrow account in an online checkout
• Once the payment is complete, the funds are received and secured in a bank account under the jurisdiction of MAS (Monetary Authority of Singapore).
• When the product is shipped or the services are rendered, the seller (or your platform) can provide a proof of fulfillment to Tazapay for verification
• As soon as Tazapay verifies the documents, the payment is released to the seller

Features

• Add an international payment method to your checkout page to enable payments from buyers from over 173+ countries.
• Offer local payment methods in 56+ major markets
• Low-cost secured payments for buyers and sellers at best in class FX rates
• Wide variety of payment methods accepted: Local Bank Transfers, Wallets & QR Codes, Mastercard, VISA, and other local payment methods
• Especially relevant for B2B as large value transactions are supported at a low cost and with escrow protection. Fully compliant with local and international regulations, all relevant trade documents are provided