Buy and Sell Items Securely With IPromise
Buy and Sell Items Securely With IPromise
Whether the items are being sold on Trade Me, Facebook Marketplace or via an e-commerce website you can use IPromise to securely manage the transaction and payment. IPromise is independent of any selling platform and its purpose is to provide transaction security – your payment guarantee.
It costs the Seller a flat fee of $10 on all transactions. There is no cost to the buyer.
How It Works
ITEM PRICE AGREED
A buyer agrees to buy an item off a seller.
ITEM PRICE AGREED
A buyer agrees to buy an item off a seller.
QUOTED
The seller quotes the amount to the buyer.
QUOTED
The seller quotes the amount to the buyer.
SECURED
The buyer accepts the quote by paying the amount into IPromise’s secure BNZ Trust Account (escrow account).
SECURED
The buyer accepts the quote by paying the amount into IPromise’s secure BNZ Trust Account (escrow account).
ITEM SUPPLIED
The seller supplies the agreed item to the buyer.
ITEM SUPPLIED
The seller supplies the agreed item to the buyer.
PAYMENT RELEASED
Product received and buyer releases payment to the seller.
PAYMENT RELEASED
Product received and buyer releases payment to the seller.
Why should I use IPromise?
Payment Protection
Buyers won’t be paying Sellers for items they may not receive, or that are different to what was specified or quoted.
Sellers can see payment is secured in the IPromise BNZ Trust Account (escrow account) before they send the items.
Efficient Payment
All Payment details are automatically populated (through online banking) making it easier for the Buyer to pay. Seller details and the amount are always correct.
NZ Credit or Debit Card up to a limit of $10,000 can also be used.
Transparent
If the Buyer doesn’t transfer the payment to IPromise by the due date, Sellers can quickly re-advertise their items and secure another Buyer.
Fair
Sellers and Buyers both control the payment release.
Hear from others who use IPromise
Selling my caravan was a breeze, only a few minutes to register and send the quote – so easy. It made the exchange secure for me and the buyer.
I’ve always been uneasy about paying people prior to receiving the goods. IPromise took all the angst out of our recent caravan purchase. The seller knew I had the money and my money was protected until I received and inspected it.
FAQs
If you require finance to pay for work you need completed (like a house renovation / professional services) or if you are buying an item (like a car / electronics), you can apply for finance from our finance partner – Finance Now. See here for more info.
Yes, you can pay for quotes from Suppliers/Sellers who are using IPromise with your NZ Credit or Debit Card, up to a limit of $10,000.
Yes. IPromise is a fair and secure payment method for handling your online payment and making sure the item is delivered.
Payment should be released immediately by the buyer when they are in receipt of the item(s) and have inspected them. Respectfully contact the buyer and ask them to please release the payment. They could have simply forgotten or they may have misplaced the email. Remember both parties rate each other, so efficient and timely actions are key to the success of the system and everyone’s transacting profile.
NB: The amount in the IPromise BNZ Trust Account (escrow account) is not to be used by the buyer as a warranty period or product insurance. Buyers unreasonably and/or regularly withholding payment release may be prohibited from using IPromise for future trades.
Firstly, do not accept that the transaction is ‘Completed’. Never release the payment to the seller (via the IPromise app) until you are 100% satisfied the item(s) you purchased arrived as you expected and quoted. Contact the seller immediately and tell them why you are not accepting the item(s). Take photos and record what is not meeting your expectations. You need to pay and arrange a safe transfer back to the seller, take a photo of proof of return to the seller and the condition the item(s) were in. Follow the refunds / disputes process and ultimately request a refund via the IPromise refund authorisation form. Open, honest and fair communication is essential throughout the process by both parties.
No, only send or hand over the agreed item(s) once the quote has been secured with payment into IPromise’s BNZ Trust Account (escrow account).
No, absolutely not. It is important to firstly agree on a price with one buyer and then send one quote per transaction. If you want the buyer to decide quickly, we recommend putting a very short expiry date on the quote e.g. one day. That way if the buyer doesn’t secure the quote before it expires, you can send a new quote to another buyer.
N.B.: You can quickly edit the expired quote and send it to another buyer to save you time.
It costs the Seller a flat fee of $10 on all transactions. There is no cost to the Buyer. There is currently no sign up fee to IPromise if you are buying or selling items. No commission is taken on NZ Bank Account to NZ Bank Account transactions. A small processing fee is charged for credit card payments. This processing fee is paid for by the card holder.
Yes it does. Buyers can offer IPromise’s secure fair and secure payment service for any item. e.g. vehicles, boats, sporting equipment, building materials, antiques, art, electronics, jewellery etc.
