Payment Methods
Kotimarkets Payment Method
At Kotimarkets, we strive to provide a secure and convenient shopping experience for all our users. To facilitate seamless transactions, we have partnered with Stripe, a trusted payment processing platform, to handle all payments made through our platform. Please familiarize yourself with our payment method policy outlined below:
Accepted Payment Methods:
- Credit and Debit Cards: We accept major credit and debit cards, including Visa, Mastercard, American Express, and Discover. Payments made using these cards are processed securely through Stripe's payment gateway.
- Digital Wallets: Users may also choose to make payments using digital wallet services such as Apple Pay and Google Pay, where available. These payment methods offer an added layer of convenience and security for online transactions.
Security Measures:
- Encryption: All payment information provided by users is encrypted and transmitted securely to Stripe's servers using industry-standard SSL (Secure Socket Layer) technology. This ensures that sensitive data remains protected against unauthorized access.
- Fraud Prevention: Stripe employs advanced fraud detection tools and algorithms to monitor transactions in real-time and prevent fraudulent activities. Suspicious transactions may be flagged for further review to safeguard against unauthorized use of payment methods.
Payment Processing:
- Authorization: When a user initiates a payment on our platform, the transaction is authorized and processed securely by Stripe. Upon successful authorization, the payment amount is deducted from the user's chosen payment method.
- Settlement: Funds collected from user payments are settled into our marketplace's Stripe account, where they are held until disbursed according to our payout schedule. This allows us to manage and track transactions efficiently while ensuring timely payouts to our vendors.
Payment Disputes:
- Dispute Resolution: In the event of a payment dispute or unauthorized transaction, users are encouraged to contact our customer support team for assistance. We will work closely with Stripe to investigate the issue and resolve it promptly in accordance with applicable laws and regulations.
- Chargebacks: Users may initiate chargebacks through their issuing banks in cases of unauthorized transactions, billing errors, or disputes with merchants. We cooperate fully with Stripe and relevant financial institutions to address chargeback claims and provide necessary documentation for resolution.
Payment Method Updates:
- Updating Payment Information: Users can easily update their payment information, including credit/debit card details and digital wallet preferences, through their account settings on our platform. Changes made to payment methods will be reflected automatically for future transactions.
- Security Measures: To protect against unauthorized changes to payment methods, users may be required to verify their identity or undergo additional security checks before updating sensitive information.
By using our platform and making payments through Stripe, users agree to abide by the terms and conditions outlined in this payment method policy.
If you have any questions or concerns regarding payment methods or transactions, please don't hesitate to contact our customer support team for assistance.
Thank you for choosing Kotimarkets for your online shopping needs.
Sincerely,
Kotimarkets Team