WHAT HAPPENS WHEN SOMETHING IS BOUGHT
Buyer
The person who uses the site, and sees something they like. After using live chat feature with vendor, they establish they want to purchase an item.
Vendor
The seller lists their second-hand item, which is verified according to community guidelines before being approved for sale.
Step 1
The user finds an item they like on the site. After chatting with the vendor, they decide to purchase it using the secure payment platform.
After speaking with the buyer, the vendor is notified on their dashboard of the purchase. They can then proceed with the Exchange. Funds are held securely and released once the Exchange is complete.
Step 2
Buyer arranges the time and place for the Exchange with the vendor via chat function, following CampusTechExchange’s guidelines.
Vendor communicates with the buyer to arrange the Exchange, providing videos, photos, and details about the item’s condition.
Step 3
At the Exchange, the buyer thoroughly inspects the goods, using the inspection guideline if needed. If satisfied, they notify the seller to proceed with the transaction.
Once notified, the seller updates the order status to ‘complete‘ or ‘delivered‘ through the seller dashboard under the orders tab. An email is then sent to the buyer, allowing them to accept the item or decline it for a refund.
Step 4
Upon receiving the email, the buyer can accept or decline the item. If accepted, the buyer takes ownership. If declined, the seller keeps the item, and the buyer receives a refund. The buyer should indicate their choice to the seller.
The seller will be notified of the buyer’s choice via email. The seller should ask for proof of the decision. If the buyer accepts, the item is handed over, and the seller is paid automatically. If declined, the seller keeps the item, and the buyer receives a refund.
Step 5
Once this is done, the Exchange is complete
Answering the Big question - What are the fees?
For the Buyer: Payment by the buyer
The price advertised by the seller excludes the payment processing fee for the transaction. The buyer will pay this transaction fee in addition to the advertised selling price.
The transaction fee ranges from 0,75% to 3,5% of the transaction value and is automatically calculated at checkout.
Depending on on the payment method, the transaction fee is as follows:
0,75% for EFT payments.
1,5% for Ozow payments.
2,5% for Credit card payments.
3,5% for cardless payments.
5,25% for for payments being made via PJN.
For the seller: Amount received by the seller
The price advertised by the seller on the site is inclusive of the 7% fee that CampusTechExchange charges for maintaining the functionality of the site.
Thus, the amount the seller will receive after a successful transaction will be the net price after the marketplace charge.