London UK, Thursday 7th April 2022 – Set against the backdrop of the UK’s pandemic recovery, demand for home renovations, building and improvement has seen a significant surge across the country. For many homeowners, the fear of rogue traders or construction scams continues to be a major source of worry – often leading to important building work being delayed indefinitely. However, UK based payment solution platform ‘Pongo’ has launched its innovative app, designed specifically to provide an unprecedented level of mutual protection for both builders and their customers.
Unlike any other payment option available on the market, ‘Pongo’ has been purpose-created to address the risks of late payment faced by construction professionals, whilst also providing a blanket of financial security for customers which negates the need to pay upfront for work. The app concept is simply but powerful – providing a mechanism for the safe holding of funds which are released in pre-agreed phases with the agreement of both parties.
Pongo spokesperson Jonathan McFarlane commented: “We’re thrilled to be launching our new payment platform app for the construction marketplace. We’ve taken the biggest risks faced by professionals (non-payment) and created a professional solution that also provides customers with the highest levels of financial security and peace of mind.”
Jonathan continued: “No longer will customers be required to pay up front for work, nor will they ever need to release funds without the agreed milestone having been met. We’re confident that Pongo will not only benefit professionals and their clients directly, but it will also make the construction sector a much more difficult place for cowboy-builders and rogue traders to operate in.”
The process couldn’t be simpler, with terms of work agreed on the app between the professional and the customer. A payment is then held within a virtual safe deposit box, which is then only released when both parties agree to a milestone being reached, or the job being complete. This provides maximum reassurance to the builder, prevents non-payment and ensures the customer only pays when the agreed work is complete.
The app provides added functionality which allows parties to agree to contract variations, complete legally binding fair contract agreements and in the rare event of a dispute, ‘Pongo’ has an integrated mediation service to quickly resolve issues. Since both parties are required to engage in adjudication Pongo can ensure disputes are resolved, the job gets finished, and the builder gets paid.
For further information on how the ‘Pongo’ payment solution can help protect your next building contract, please visit the official website at http://www.pongopay.com or use the contact details below.