How can magbaza protect buyers and sellers?

Question

Magbaza is a third party in E-commerce, How it works to protect buyers and sellers?

About www.magbaza.com

Answer 1

I assume they provide (or claim to) an 'Escrow' service.

The concept is that a 3rd party who is trusted by both Buyer and Seller will acts as a 'man in the middle' .... the Buyer pays money over to the Escrow service who then tells the Seller that the funds are OK and they can deliver the goods.

Unlike, for example, PayPal, they will hold onto the money until AFTER the goods have been delivered and the Buyer reports all is OK .. after which they release the funds to the Seller.

Further, again unlike PayPal, they will act to resolve any disputes by inspecting postal receipts and actual delivered goods etc.

Needless to say, these days, it all comes down to "why should you trust the (maybe bogus) Escrow Service more than you trust the seller ?"

If, for example, you wished to deal with a factory in China, it might make sense to employ a Escrow Service in India .. (and vise-versa).. since a Chinese Escrow service is just as likley to be bogus as a Chinese Buyer or Seller ...