WPFreelance is a WordPress Freelance Marketplace theme developed with user-centered design and useful features to ensure a smooth reliable workflow on site. One of the focused functions is the payment process integrated into the Wallet System, keeping the money safe, protecting the rights of both employers and freelancers, and offering the monetization method for site owners.
Wallet System offers various benefits for users
Wallet System functions like the e-wallet that keeps users’ credits available on site. Payments and earnings will be seamlessly recorded and displayed in users’ wallets. Let’s go over main benefits Wallet System can offer:
Depositing credits in the wallet and making transactions with these credits are a safe method as it minimizes the real money transactions, which always bear certain risk online.
Wallet System requires employers to make full payment before the project commencement. Hence, freelancers can rest assured that employers would not run away without making payment after the project is complete.
Credits are managed and controlled by site admin when a project is in progress and only released to freelancers’ wallets once the project is finished. As a result, employers can ensure that freelancers will try their best to fulfill projects’ requirements before getting paid.
Making payment via credits in Wallet System also gives both employers and freelancers access to the dispute center if things do not go as planned. In this case, site admin will operate as a middleman between two parties and decide who wins and receives the money.
In addition, Wallet System provides admin with a monetization method when commission fee is charged and retained in site owner’s account per each transaction.
How Wallet System works in WPFreelance Theme
After an employer posts a project and then selects a proposal from a freelancer, the employer is required to make the payment for the project. If there are enough credits in his wallet, the payment will be immediately deducted. If there are not enough credits, he has to deposit more credits into his wallet to make the payment.
After the payment is made, the project will enter its in-progress phase and freelancers will start to work on the project. The payment is now managed by the admin but still appear in freelancer’s wallet under pending section.
When the employer is satisfied with the deliveries and marks the project as complete, the credits will move from pending to available section of freelancer’s wallet. Freelancer now can request withdrawal for the amount under the available section in his wallet.
However, if there’s something unwanted that happens during the project and the employer or freelancer files a dispute, the site owner will act as the intermediary, collect necessary information about the project and make decision on who wins the dispute and receives the money.
Facilitating payments through Wallet System also allows the site admin to monetize the system by charging commission fee for each payment.