Lelong Payment Services for Sellers (Maybank2u) | Ramblings of an e-trader

Thursday, 19 March 2009

Lelong Payment Services for Sellers (Maybank2u)

I was reading the forum on Lelong when I chanced upon this payment method offered by Lelong to Sellers. This is awesome, though I don't have the chance to try it out yet but basically, what it means is that our buyer gets to make payment to us directly as soon as possible by making payment to Lelong instead of to the sellers.

Sellers will see the deposit in their Lelong iAccount immediately, as I understand it, and would be able to ship out the package to the buyer. Sellers will also be able to withdraw funds from Lelong iAccount as long as there is balance.

This is like an escrow service and I think would be very useful for sellers who are selling higher priced items. What happens if the seller is unable to ship out the item? I guess Lelong will only deal with that if ever this problem crops up.

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