Shepherd Trade Secure, specifically designed for the South African market, eliminates the risk of fraud by taking cash and personal contact out of the online classified experience.
Powered by Standard Bank and endorsed by Gumtree South Africa, it is believed to be South Africa’s first true third-party holding service partnered with a courier (RAM).
The service takes the risk of using cash out of an online transaction. Instead the buyer contacts the seller online, they agree to use Shepherd and both register with the service.
Shepherd holds the buyer’s money in trust and releases the funds only once the parcel has been delivered, inspected and accepted by the buyer.
Shepherd’s MD, Martin Reynolds, says the problem with buying and selling online is that users do not know who they are dealing with or where the money is going.
“We created Shepherd to prevent fraud in an environment where consumers are wary of transacting online,” he says.