Rated People has partnered with Shieldpay to offer Protected Payments and give consumers and tradespeople a safe way to transact.
Shieldpay’s instant digital escrow solution mitigates the risk of fraud by verifying the identity of all parties. Funds are held securely and only released with fast pay-outs once both sides agree they are happy. Previously, once a home improvement job had been agreed, payment had to be completed by bank transfer or cash payment – leaving both sides open to fraudulent activity. Shieldpay’s patented payments process not only allows homeowners to have more control over their money, it also reassures tradespeople that the money is there to pay them for their work and protects both parties from fraudulent payments.
Rated People connects homeowners with over 50,000 skilled tradespeople across the whole of the UK. Homeowners post over 1 million home improvement jobs through the platform every year, generating £2.5bn of work for tradespeople. The company launched a series of cost guides early this year, to help provide pricing transparency and fairness for home improvement work. Teaming up with Shieldpay to offer protected payments builds on Rated People’s ongoing commitment to support the industry by helping to build stronger relationships between all parties.
Tom Clementson, Consumer Director, Shieldpay, said: “It’s fantastic to be working with the innovative team at Rated People, launching secure payments for the first time in the £306bn* global home improvement market.
“Homeowners enjoy real peace of mind from Shieldpay’s secure payment solution, and no longer have to pay by cash or bank transfer, with little protection. Tradespeople will also see benefits with equal protections and greater certainty around when they will be paid.”
Celia Francis, CEO of Rated People, adds: “We’re delighted to be working with Shieldpay to offer Protected Payments and see this as a fantastic way for homeowners and tradespeople to improve communication around home improvement work and build trust.”