Yes, you and your supplier both require LockPay account. You need “Customer” account and your supplier need to get “Supplier” account. Your supplier also need to subscribe for one of the available plans as per their need.
If you are customer, you won’t get charged at all.
If you are supplier, LockPay won’t charge your credit card for transaction fee. We will take transaction fee out when we deposit funds to your nominated bank account. For example if you receive $1,000 via LockPay, we will deduct $20 from your payment and deposit $980 to your nominated bank account.
If you are Customer, you do not need to subscribe for any plan. Just create a “Customer” account.
If you are supplier, no monthly fee will be charged for “Starter Plan”. You only pay 2% of your transaction amount processed via LockPay. For example if you receive $1,000 via LockPay, you will pay $20. This plan is good where you only want to use LockPay for limited number of customers.
LockPay is Australian owned and operated Company. We use globally recognised payment gateway Stripe to process all funds. We do not store any credit card details. Your funds will be securely saved with an Australian banking Institution until both parties authorise to release. Both supplier and customer will be able to see their fund balance in their account.
