The smartP payment solution is unique in protecting both the buyer and the seller: providing assurance of payment for the seller as well as assurance of delivery for the buyer. The buyer pays with iDEAL, then the money makes an intermediate stop at the GoCredible third-party funds foundation (Stichting Derdengelden GoCredible). Once the payment is made, the business-owner is notified immediately to start the delivery. Upon acceptance by the buyer, the purchase amount is released, and the business-owner receives the money.
The seller pays GoCredible for using the smartP payment service. For the buyer, the use is free of charge.
How does smartP work?
The seller’s web shop is technically integrated with our smart contracts via an API, which leads the buyer to the secured smartP payment page. Once on this page, the buyer easily selects the appropriate bank. In this familiar banking environment, the customer pays with iDEAL, after which the purchase amount is directly transferred to GoCredible’s escrow account and is placed there in safekeeping. Payment is never transferred directly to the seller. The seller can deliver the product after our API communicates the customer payment. Once the buyer accepts the product, GoCredible will transfer the money to the seller. If the customer does not accept the product or the transaction is cancelled for any other reason, the buyer will receive a refund automatically.