What is online storage?
Online custody refers to the process of parties involved in the Internet transaction by means of a third party to manage the transaction. The parties thus acquire safety from one party that has not fulfilled its duty in agreement. When using online custody, the buyer of the product or services advertised on the website will send a payment to the ESCrow service, which then entitles the seller to send the product or carry out a service. The use of a reputable custody service is protection against fraudulent shopping and sales procedures on the Internet. This boom in online transactions was accompanied by fraud and scams fraudsters, and often there are little that at the wrong end of these frauds can do the problem to correct the problem. Online safekeeping is one method of direction of such a fraud off before this, a certified third party of the transaction allows.
the first step in the transaction using online custody comes when the buyer of the product or serviceY sends the required payment together to the custody service, which orders a small fee for its part. Once the safekeeping service verifies that the payment is valid, the seller entitles the product to be sent or performed by the advertised service. Finally, as soon as the buyer confirms that he has received a product or service, and there are no problems with it, then the service is paid by the seller.
This process ensures that there is never a time when one party involved in a transaction has a product to be sales and money to be used for payment. Since a small fee is attached to the custody service, the cheaper transaction does not necessarily need a third party overview because it is equally low. It is advisable to use online storage whenever the purchase of a larger ticket is traded that requires security for the buyer and the seller.
The buyer and the seller are equally protected in the transaction that is under the supervision of online custody. The buyer will be sure that he knew that the service of the safekeeping would be SLedit the shipment and verify delivery and also maintain their payment protected in case the seller has not passed. On the other hand, the seller gains the advantage of checking the custody service to see that the payment is valid and confirms how the product arrives.