- A European first: twago is the first freelancer marketplace with an escrow service
- increased security during online cooperation for clients and providers
- guaranteed payment and guaranteed results
Berlin, 23 June 2011. twago, Germany’s largest international marketplace for freelancers and service providers in the fields of programming, (web) design, and business support services, now offers secure payment via its escrow service “twago safePay”. This makes the company the only supplier in Europe that offers clients and providers extensive security for their online partnerships.
“It is important to us to provide the possibility for our users to secure their co-operations when working online,” Gunner Berning, founder and CEO of twago, explains. He adds, “with twago safePay we set a new benchmark in regards to security in online business between clients and international providers.”
When working together with one of the 110,000 experts on twago, clients can use twago safePay to pay their provider securely. At the beginning of the project, the client transfers the project payment to an independent, third-party escrow account. Only once the project has been successfully completed and the client has confirms this, is the money released. Until then, the deposited payment is safe. Clients benefit from the elimination of risky upfront payments to often unknown providers before starting the project.
With regards to the providers, through twago safePay thousands of programmers, designers, translators or marketing experts, can now be sure of payment. This way, the “black sheep” amongst clients will be stripped of the ability to not pay the agreed invoice amount. “The programmer or designer will only start working after receiving a notification that the project payment is securely stored in the independent escrow account,” says Berning explaining the advantages.
“This allows both contractual parties to begin their business relationship as relaxed as possible”, Berning says. If there is any disagreement between client and provider about the work done, twago offers an optional mediation between both parties. In the mean time, the money stays on the escrow account.