Our new, secure, online payment system
Why use FarmPay?
Ever had a cheque bounce? Ever felt uneasy about selling your stock to someone? Ever worried that you aren’t going to get paid?
FarmPay is a brand new system for securely transferring money when you make purchases or sales on SellMyLivestock.
It guarantees payment to the seller by asking the buyer to transfer funds into a secure holding account. The money is then released to the seller when receipt of the goods is confirmed.
This ensures the buyer has the money before the stock gets released.
FarmPay is managed through Stripe, they handle billions of pounds every year, such as Facebook and Amazon.
You can pay via Mastercard, Visa, American Express etc. and BACS.
The seller is guaranteed the money if the buyer receives the goods in the agreed condition.
How to use FarmPay
Firstly, if you have an account with SellMyLivestock, you automatically have an account with FarmPay. So you can use the same login details. If you aren’t already a member, just create an account.
If you are a seller, you need to fill in your bank account details (account number and sort code). This is the account that the money will be transferred into!
If you are a buyer, you need to fill in your bank card details, so the payment can be made.
The buyer and seller agree a price, and the seller can create an invoice on FarmPay, which gets emailed to the buyer.
The buyer pays the invoiced amount using a debit or credit card, or a BACS transfer into a secure holding account. This way, the seller knows the buyer has the funds available.
Once the seller has been notified that the money is in the holding account, they can confidently dispatch the goods.
Next, the buyer confirms receipt of the goods as soon as they arrive.
As long as everyone is happy, the money is transferred from the holding account to the seller, less our 2% fee. (If a dispute arises, the buyer has 48 hours to raise a dispute using our online resolution process).
See FarmPay FAQ’s here.
Watch the video here.