Btw, if you go to their FAQ page, you can see this quote all about their payment system and how it works:
Quote
How does the payment system works?
The Bitrated payment system allows to make reversible e-commerce transactions using multi-signature smart contracts.
The buyer and seller nominate, ahead of time, a trust agent to act as an arbiter for their transaction. The buyer then makes the payment to a 2-of-3 multi-signature address, which is locked until two of the parties agree to release it.
The payment process consists of of four steps:
After agreeing on a contract and a trust agent, a new trade is created by the buyer. [screenshot]
All parties are required to review & authorize their participation in the trade. [screenshot]
The buyer is requested to make the payment into the multi-signature address. The seller can verify that the payment is secured in the multi-signature and provides the goods/service to the buyer. [screenshot]
The payment is now locked for the duration of the trade, until two of the three parties – buyer, seller and trust agent – agree to release it. [screenshots]
This can go in two ways:
When everything goes well, the buyer & seller agree and release the payment to the control of the seller. No intervention by the trust agent is required in this case.
When a dispute arises, the trust agent can intervene, review the case and decide which party to side with — either refunding the payment to the buyer, or releasing it to the seller.
The Bitrated payment system allows to make reversible e-commerce transactions using multi-signature smart contracts.
The buyer and seller nominate, ahead of time, a trust agent to act as an arbiter for their transaction. The buyer then makes the payment to a 2-of-3 multi-signature address, which is locked until two of the parties agree to release it.
The payment process consists of of four steps:
After agreeing on a contract and a trust agent, a new trade is created by the buyer. [screenshot]
All parties are required to review & authorize their participation in the trade. [screenshot]
The buyer is requested to make the payment into the multi-signature address. The seller can verify that the payment is secured in the multi-signature and provides the goods/service to the buyer. [screenshot]
The payment is now locked for the duration of the trade, until two of the three parties – buyer, seller and trust agent – agree to release it. [screenshots]
This can go in two ways:
When everything goes well, the buyer & seller agree and release the payment to the control of the seller. No intervention by the trust agent is required in this case.
When a dispute arises, the trust agent can intervene, review the case and decide which party to side with — either refunding the payment to the buyer, or releasing it to the seller.
Source: https://www.bitrated.com/faq
