A new Escrow service will make it easier for CitizenShipper drivers and customers to finish their transactions once the shipment is complete. Beginning this month, shippers now have the ability to pay for the entire shipment with a credit card and drivers will begin receiving payment directly into their bank accounts. Drivers will also have the benefit of knowing the funds are secured before they hit the road, so last minute payment delays are a thing of the past.
Drivers will be asked for additional banking details so funds can be deposited directly into their accounts. When this information is provided, they will become eligible to bid on and win Escrow jobs. Under the new system, shippers that accept a driver’s bid will be required to upload the agreed-upon amount into an Escrow account; the funds will stay ‘parked’ there until the customer releases the payment. Should a customer fail to respond to a request for payment, the amount will be released within two days unless a dispute is filed. Also, funds should be available in driver accounts within one business day of their release.
Customers will also benefit from the integrated Escrow system. They’ll be able to use credit cards to make a one-time payment for the shipment immediately after choosing a driver. Braintree, a secure third-party service owned by Google, will hold the funds until customers reply to an email asking to approve the payment. Customers should diligently monitor payment requests: the funds will be released within 48 hours after the shipment is completed unless a dispute is opened.
A quicker, simpler customer experience and a system that allows drivers to get paid more efficiently were the aims of the Escrow redesign, said CitizenShipper CEO Richard Obousy.
“This just makes sense for both shippers and drivers,” said Obousy. “The sharing economy is growing and demanding new ideas that organize the way people pay for services.”
“There are very innovative ways to manage payment now, and Braintree’s products are among the best. We look forward to using their tools.”