[Announcement] The Settlement Structure of Wadiz That Differs from General E-commerce
Wadiz is South Korea's No.1 Crowdfunding Platform you can trust.
We are creating a world where anyone can challenge, and building a crowdfunding ecosystem where support and backing happen naturally.
To this end, we provide a transparent and secure platform environment where makers and supporters can use with confidence and ease.
Recently, due to e-commerce-related issues, there are increasing concerns about the financial soundness of platform companies.
Wadiz is sharing the information you were curious about to address concerns related to settlement payments, centered on e-commerce companies.
1. Wadiz provides advance settlement services.
Wadiz operates a differentiated settlement system from general e-commerce. In particular, through our 'advance settlement service', we provide funds needed for product manufacturing in advance, which helps makers overcome the problem of insufficient initial capital.
Within 7 days after the project ends, 60-80% of settlement funds are paid in advance to makers, and after providing rewards, the remaining settlement funds are paid in full within 30 days from the payment date.
Thanks to this structure, Wadiz maintains a stable settlement system with very low risk of settlement funds not being paid to makers.
2. We manage settlement funds securely.
Wadiz manages all settlement funds securely through contracts with external electronic payment service providers (PG companies).
We do not perform PG operations ourselves, and through a reliable PG company, we store and manage sales proceeds in a separate payment account.
This system fundamentally blocks settlement funds from being used for other purposes, and ensures that settlement funds can be paid safely.
With those who love and support Wadiz, we will do our best to create a world where 'anyone can challenge' going forward.
We will continue to maintain transparency in all operations and fund management, and strive to earn customers' trust.
Thank you.