Social Place Services is using an Escrow Payment system to protect both the Buyer and Vendor from fraudulent Orders and poor Quality Services. All Payments will be received and temporarily kept by Social Place for 7 days after the Buyer receive the Goods. If there is no complaint filed within 7 days, the Payment is eligible to be transferred to the Vendor.
Complete Ordering Process to ensure Payment:
1. If the Buyer Orders the Service not using Cash on Delivery. The Vendor, Buyer and Social Place Admin receive the Status Update on their registered Email and Dashboard Notifications. The Order Status states “On Hold” until the Payment have been received by the Social Place Escrow Account. The Vendor must wait for the Payment to be received by the Social Place Admin before Processing the Order.
2. If the Buyer did not choose Cash on Delivery. Once the Payment has been received by the Social Place Escrow Account, Social Place Admin changes the Order Status to “Processing“. The Vendor, Buyer and Social Place Admin receive the Status Update on their registered Email and Dashboard Notifications. “Processing” is the Signal that the Vendor must Process and Deliver the Service to the Buyer.
If the Buyer Orders the Service using Cash on Delivery, the Order Status changes to “Processing” automatically.
3. Once the Service has been Received by the Buyer, the Vendor must update the Order Status to “Completed“. Login to Social Place Services, and click Dashboard > Orders. Click the Eye icon below the Actions column to View Details.
Change the Order Status to “Completed” and click the Update button. The Vendor, Buyer and Social Place Admin receive the Status Update on their registered Email and Dashboard Notifications.
Payment & Withdrawal Process:
After 7 days of Completing the Order, if there is no Complaint the Payment is eligible to be transferred to the Vendor’s Bank Account. Social Place Admin sends All the payments Weekly (Monday) to the Vendor minus the Commission fee of 0% in 2024 and 1% in 2025. Below are the 2 Types of Vendor Payment and Withdrawal based from the mode of Payment used by the Buyer:
1. Withdrawal Mode is available if the Buyer sends Payment to the Social Place Escrow Account thru PayPal, Maya, Bank and Money Transfer. After 7 days of Order Completion, all payments will be transferred to the Vendor’s Bank Account. Once the Payment has been Transferred to the Vendor, the Admin Fee Status will be changed to “Paid”. To view this, click Dashboard > Payment, change Status to Approved or Pending for tracking payments.
2. Reverse Withdrawal Mode is available if the Buyer uses Cash on Delivery since the Vendor receives the Payment. Once the Admin Fee reaches Php 500, Social Place Admin requests for a Reverse Withdrawal and the Vendor must send the Fee to the Social Place Bank Account. After Social Place Admin receives the Fee, the Admin Fee status will be changed to “Paid”. Vendor Withdrawal will be suspended if the reverse withdrawal is ignored for more than 7 days. Click Dashboard > Payment > Reverse Withdrawal button, change Status to Approved or Pending for tracking payments.
