Merchant transaction Status

Understanding the Escrow Transaction Process: A Merchant's Perspective

As a Merchant, you want to ensure your efforts and services get the value they deserve. The Smartlink Escrow system, acting as a neutral third party, ensures that every transaction is conducted securely, with the interests of both parties at the forefront.

Letโ€™s delve into the transaction stages, focusing on the benefits for you as a Merchant.

๐Ÿ”น 1. INITIALIZED

What it means: The buyer has shown interest in your product or service and has initiated the payment via cryptocurrency.

Benefit: You get a notification of intent, ensuring you that the funds are secured in escrow, creating a layer of financial security for your sale.

๐Ÿ”น 2. DELIVERING

What it means: With the payment secured, you can confidently proceed with dispatching the product or providing the service. The transaction is in its delivery phase.

Benefit: This phase assures you that the buyer has committed, allowing you to fulfill your end without hesitation.

๐Ÿ”น 3. INSPECTION

What it means: The buyer has received the delivery and is in the phase of reviewing it.

Benefit: Provides an opportunity for you to demonstrate the quality and accuracy of your product/service, potentially leading to positive reviews and repeat business.

๐Ÿ”น 4. INSPECTION EXTENDED

What it means: The buyer requests additional time to evaluate the product/service.

Benefit: It ensures the buyer thoroughly vets the product/service, which can result in better satisfaction rates.

๐Ÿ”น 5. COMPLETED

What it means: The buyer is satisfied with the purchase, signaling the successful conclusion of the transaction.

Benefit: The secured funds are released to you. A completed status signifies not only a successful sale but also a satisfied customer โ€“ a win-win!

๐Ÿ”น 6. CANCELLED

What it means: The transaction has been terminated either by the buyer or by you.

Benefit: If there are insurmountable issues or mutual disagreement, this offers a clear termination point without lingering uncertainties.

๐Ÿ”น 7. SETTLEMENT REQUEST

What it means: A middle-ground solution is sought if there's a minor disagreement or discrepancy.

Benefit: This mechanism provides an opportunity for amicable resolution, often preserving the merchant-customer relationship.

๐Ÿ”น 8. SETTLED

What it means: Both you and the buyer have reached a consensus, concluding the transaction on mutual terms.

Benefit: Ensures you're part of the resolution process, safeguarding your interests.

๐Ÿ”น 9. ARBITRATION

What it means: In case of a major dispute, the funds are transferred to an Arbitrator.

Benefit: A neutral third party assesses the situation, ensuring fairness and adherence to agreed-upon terms.

Leveraging Smartlinkโ€™s Escrow system, you, as a Merchant, are fortified with multiple layers of security, clarity, and transparency. Elevate your business's reputation and foster lasting customer relationships with every seamless transaction!

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