Sometimes all it takes to secure a deal is a TrustedFriend
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.A new internet payment service, TrustedFriend, is launching, designed to better protect both buyers and sellers.
TrustedFriend works as an "escrow" service, or neutral middle man, costing a flat rate of £2.99 per transaction and protecting buyers as well as sellers and even offering a referee service if there are disputes over payment. Delivering services before they've been paid for is risky for sellers and, equally, buyers are hesitant to pay for goods before they've arrived. When a buyer uses TrustedFriend, their cash is placed into a UK bank account – which is covered by the Government's deposit protection scheme – where it stays until they are satisfied that the item they have purchased online has been delivered and is in satisfactory working order. Simultaneously, the seller is safe in the knowledge that they'll receive full payment, with interest, upon completing their side of the transaction.
The launch coincides with new Financial Services Authority rules which mean that should an escrow service go under, money deposited by buyers will be ringfenced. "This legislation means that the money we hold on behalf of clients, while they are waiting for goods and services to be delivered as promised, is now tightly safeguarded by law," says TrustedFriend founder Andrew Kaye.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments