PayLock is an escrow company that securely holds funds until a Buyer and Seller complete a deal. Think of it like a really secured piggy bank. And it basically turns online offers, deposits and deals into real commitments.

PayLock works for anyone buying or selling across online marketplace platforms such as Facebook Marketplace, Trade Me, as well as for private sales, service deposits and more.

Buyers lock funds upfront, Sellers know the money is real, and funds are only released when the deal is completed or resolved – protecting both sides from scams, timewasters and other bad behaviors.

No. PayLock is an independent platform based in New Zealand. It's not partnered with, affiliated with, or endorsed by any other company or marketplace. PayLock can only be used for items listed on these marketplaces as a neutral third party, giving Buyers and Sellers a secure way to commit to deals.

It uses Stripe's world-class infrastructure as its secure payments partner for identity verification, escrow fund holding and payouts.

These platforms don't enforce commitment - the offers sent are not 100% guaranteed and payments happen outside the platforms – which means they're not regulated. There are no real consequences for "ghosting" or backing out of a deal.

PayLock exists because sitting back and tolerating this behavior shouldn't be acceptable. PayLock doesn't replace these platforms but is used to facilitate real deals by locking funds, enforcing clear rules and ensuring a clean outcome for Buyers and Sellers.

PayLock cannot reverse payments if you accidentally pay the wrong user, or pay or incorrect amounts. The software simply doesn't allow this.

If a mistake happens, immediately try and cancel the offer. If it's too late and the offer's been accepted, the you must come up with a solution with the Seller - PayLock cannot reverse payments under any circumstances.

If an offer is cancelled, declined, or expires, refunds are immediately processed back to the original payment method used. In most cases, the Buyer will have immediate access to these funds. However, it sometimes might take a few hours or days to show up in the Buyer's bank account depending on the Buyer's bank's policies.

Refunds that are issued after a dispute may take 5-10 business days.

Rest assured, all funds are managed by Stripe and will arrive at nominated bank accounts.

Only Buyers may raise disputes. Funds are automatically locked in PayLock’s escrow until this is resolved.

PayLock strongly encourages all users to keep full records of all communications, courier tracking receipts and photos/videos of the item or work before and after the sale. This will all be required during the disputes process.

When disputes are triggered, Buyers and Sellers will be emailed and asked to provide all evidence to support their claim, and a time limit for when this evidence is due. After this time limit ends, the dispute will be considered resolved and the funds transferred to the appropriate party. Time limits are determined on a case-by-case basis and consider factors such as the type of item and the complexity of the issue. It's important that all users correspond with PayLock within this time period. If they don't, they risk the dispute being automatically granted to the other party.

It's also important to mention that ignoring emails or trying to argue without having enough evidence will not change the dispute outcome. Dispute outcomes are based on what can be proven, nothing else.

PayLock's decisions for disputes are final, and the money will be sent to the appropriate party. This cannot be reversed.

Absolutely! That's the whole point. Firstly, we don't store any card or personal information so there's nothing to to be hacked or leaked. Secondly, Stripe has its own intense security system for handling all money movements.

The only time you need to put in your bank and ID information is if you're a Seller and want to accept offers and payouts. But this is all done through Stripe so you can be confident in their cybersecurity and anti-fraud protocols.

A Seller becomes PayLock Verified after completing a one-time Stripe onboarding process. It only takes a few minutes and is required to start accepting offers and getting paid. Stripe automatically verifies the Seller's identity using their legal details, ID checks and bank details.

PayLock Verified Sellers will see their funds in their Stripe accounts. They may transfer funds directly into their nominated bank accounts. This normally takes 2–3 business days.

It may take longer for newly registered Sellers to start receiving payouts because Stripe will be checking identities as part of their security protocols. Future withdrawals get quicker and quicker but rest assured, all money will arrive!

Stripe is an international payments provider that securely processes payments for major global companies, including Uber, Airbnb, Amazon, and many more. Stripe also has a local office in Wellington and is widely trusted by businesses across New Zealand.

You can read more about Stripe on their official website: https://stripe.com/nz/connect

PayLock uses Stripe to manage all payments securely, ensuring that all funds are safe, encrypted, and handled in accordance with strict financial regulations.

No. PayLock can’t access locked funds. Money only moves automatically according to the agreed rules and deadlines.

There specific time rules that control how funds are protected and released. These rules are automatic and apply to every deal.

For items:

• The Seller has 24 hours to accept or decline an offer. If no action is taken, the offer expires and the funds are automatically returned to the Buyer.
• After acceptance, the Buyer has 7 days to confirm or dispute the deal. If no action is taken within this period, the funds are automatically released to the Seller.

All deadlines, cancellations, and releases are enforced automatically by the system and cannot be reversed once completed.

No. The PayLock software is built and designed based on specific rules and logic flows. There are no exceptions to any of these rules. Unless a dispute is filed, funds will be automatically released to the Seller after 7 days.

It is recommended that Buyers come to a private agreement with the Seller directly.

Yes! If a Buyer cancels a paid offer before the Seller accepts it, the request is void and the Buyer is immediately refunded.

No – this is timewasting, and is the sort of behavior PayLock is eliminating. Once the Seller accepts, Buyer funds are immediately and automatically locked in PayLock's escrow account. However, funds will only be released to the Seller once the Buyer confirms the deal, or the deal is resolved under PayLock's rules.

If a Buyer has a genuine issue with the item or the deal they must raise a dispute within the 7 days of the Seller accepting.

PayLock is not a mediator. Our only goal is to prevent scamming and timewasting behavior. So the only disputes we handle are those that are directly related to the structure of the deal where PayLock is involved.

Examples of disputes PayLock does accept when buying or selling:

• items not received
• items are broken/counterfeit
• misleading description of item sold

In cases like these, we will require solid evidence from Buyers and Sellers. This includes things like courier tracking receipts, time-stamped photos/videos of the items before and after the sale, professional inspection reports etc.

Examples of disputes PayLock does not accept when buying or selling:

• complaints about the value or condition (if clearly misleading)
• funds transferred outside of PayLock
• paying wrong amounts or wrong users
• future faults past the protection period

Unless it can be obviously proven that the issue existed at the time of sale, we don’t interfere. We recommend you come to an arrangement amongst yourselves. And if a claim can’t be verified, the transaction is resolved according to the normal PayLock rules.

All disputes are handled individually on a case-by-case basis.

There specific time rules that control how funds are protected and released. These rules are automatic and apply to every deal.

For services:

• The Seller also has 24 hours to accept or decline a funded deposit.
• The Buyer may cancel and receive a full refund until the cancellation cutoff date, which is set automatically at the midpoint between the service start date and the release date.
• After the cancellation cutoff passes, funds remain locked and will release automatically on the agreed date unless a dispute is raised beforehand.

All deadlines, cancellations, and releases are enforced automatically by the system and cannot be reversed once completed.

No, PayLock doesn’t do partial refunds.

Sometimes things happen, we get it. But you’ll have to come up with agreement with the person you’re dealing with, as your decisions will impact them also.

Remember - deadlines, cancellations, and releases are enforced automatically by the system and cannot be reversed once completed. Only raising a valid dispute will make you eligible for a refund, and changing your mind isn’t a valid reason.

PayLock is not a mediator. Our only goal is to prevent scamming and timewasting behavior. So the only disputes we handle are those that are directly related to the structure of the deal where PayLock is involved.

Examples of disputes PayLock does accept for services:

• misleading representation of qualifications
• work not completed by deadline
• worker never showed up

In cases like these, we will require solid evidence from Buyers and Sellers. This includes things like time-stamped photo/video of the work, inspection reports etc.

Examples of disputes PayLock does not accept for services:

• changing minds because someone else will do the work
• funds transferred outside of PayLock
• paying wrong amounts or wrong users
• faults occurring after the deadline
• work done by service person isn't good enough

Unless it can be obviously shown that the work completed isn’t what was requested, we don’t interfere. We recommend you come to an arrangement amongst yourselves. And if a claim can’t be verified, the transaction is resolved according to the normal PayLock rules.

All disputes are handled individually on a case-by-case basis.

Great, then your deposit is fully protected. You can pay the outstanding balance outside of PayLock but you will not be protected for this amount. If you want protection, you’ll simply have to send them another deposit for the remaining balance through PayLock.

No. Once accepted, deadlines cannot be changed to ensure fairness and certainty for both parties.

Funds can be released early if both parties agree. Otherwise, funds release automatically on the agreed deadline.