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At this time Membership is FREE. It won't cost you anything to become a Member of VOIP Payment Services. However we do charge for each minute that is exchanged in the transaction. Fee is just $0.00025 USD.
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- The Seller and Buyer agree to terms and also on how much money the Buyer will put in the escrow to secure payment. You (Buyer or Seller) can create the transaction and after both party agrees to the terms, Buyer will fund the transaction.
- The Buyer sends calls to the Seller as it normally would. Traffic travels directly from buyer switch to seller switch.
- The Seller sends invoices to Buyer through VPS (VOIP Payment Services) and buyer is notified to review and approve the invoice. Please note that Seller can have multiple Invoices under one Transaction. See the foot note 1.
- The Buyer confirms each invoice and VPS sends the approved amount to the Seller's account. If only part of the invoice is approved, the disputed portion remains in the escrow account while the dispute is resolved.
Foot note 1:
For example Transaction can be for $10,000, and Seller will invoice buyer every week for their usage, let's say first week they only use $1000. No Transaction will have $9000 left for future invoices.
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We do our best to verify each company that becomes the member of VOIP Payment Services. We use third party vendors to do a background name check and we also require all the members to fill in the information required in the profile section.
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If we cannot verify the information you provide, We might limit your spending,
After verification process is completed, all the limits will be lifted.
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