LÜM has two payment processing options for requesting a service on The Exchange: Pay Now and Pay Later.
Pay Later allows you to skip the checkout process until after the Seller has accepted your project and has committed to working with you; while the Pay Now option collects your payment information upfront – allowing the Seller to work on your project immediately after accepting.
For either option, you will not be charged until the Seller accepts your offer. Once the project is accepted and the payment is authorized, LÜM will hold funds until the Seller has completed the project to ensure both the buyer and seller are protected.
More about Pay Later:
Once the Seller has accepted your offer, you will receive a notice and must authorize the payment within 72 hours. LÜM requires payment before the Seller begins the project, and will hold this payment in reserve until the Seller completes the project. If you do not authorize this payment within the time allotted, your offer will expire and you will need to send a new offer.
Why use one option over the other?
There is no significant difference between either option. The only difference is authorizing the payment when you initially send an offer or waiting until after the seller accepts. Regardless of the option you choose, no charge is ever made on your account until after the Seller agrees to your offer.
If you are interested in working with a specific Seller, LÜM recommends authorizing the payment upon sending the initial offer. This DOES NOT charge your account until after the Seller has accepted. However, once accepted, the Seller can begin working on your project immediately – instead of waiting for you to authorize the payment after they accept.
Choosing to Pay Later will naturally take longer for the Seller to complete your project, as there is more back and forth between both parties.