What is Pegno?
Pegno is a milestone-based payment escrow platform for service transactions. It holds funds securely until agreed milestones are completed, protecting both the Hirer paying for a service and the Contractor delivering it.
How does escrow work?
When a deal is created, the Hirer deposits the agreed amount into escrow. The money is held securely and only released to the Contractor when each milestone is marked complete and approved. Neither party can access the funds until the conditions are met.
How much does Pegno cost?
The Hirer pays a 1% fee when they fund a job. The Contractor pays a 1% fee on each payment released, worked out on the amount released, with a minimum that covers the payout cost. This is shown before the Contractor accepts the job. That comes to about 2% in total on a job paid in full. A refund is the part of the job amount not yet released to the Contractor. The 1% Hirer fee is not part of it and is not refunded. If the Hirer cancels or asks for a refund, a refund fee of A$2 (in Australia) is taken from the refund; there is no refund fee when the refund follows a dispute decided in the Hirer's favour or is made by Pegno. There is no charge to create an account or create a job. Fees are shown clearly before you fund a job.
Who can use Pegno?
Pegno is designed for any service transaction — tradies, plumbers, electricians, builders, cleaners, removalists, mechanics, landscapers, and any other professional Contractor. Hirers who engage any of them can also use Pegno to pay safely.
How do I create a deal?
Download the Pegno app, sign up for free, and tap 'Create a Deal'. Add the job title, total amount, and milestones. Share the deal link or QR code with your Hirer. They fund it and you begin work.
What happens if there's a dispute?
Pegno has a three-tier dispute resolution process. First, both parties attempt to resolve directly. If unresolved, Pegno reviews the dispute and makes a determination. If you are still not satisfied, you may be able to refer your complaint to an independent dispute resolution scheme in your region. Our reply will tell you which one.
How do I delete my account?
Go to Account Settings in the app, scroll to the Danger Zone section, and select Delete Account. You will be asked to type DELETE to confirm. Note that accounts with active deals cannot be deleted until those deals are resolved.
Which countries does Pegno support?
Pegno currently operates in Australia and the United Kingdom, with the United States and Singapore coming soon. The region is set per transaction and Pegno routes to the appropriate payment rails for each jurisdiction.
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