Please note we pay designers for their sales weekly. We reserve the right to withhold or delay payments as we deem reasonably necessary, including for new designers, unusual or suspicious activity or other reasons for up to 60 days.
I want to explain quickly why we don't pay immediately when a logo is sold. You may think that we got the money so there is no good reason not to pay. Actually that's not the case.
We process payments through PayPal which has an advantage that we do not store any credit card data on the site, so even in case of a break-in no credit card information can be stolen.
Second, PayPal has lot os security systems in place to minimise credit card fraud. Unfortunately despite all their efforts fraud does happen in a small number of instances. In such cases PayPal doesn't want to release payments until they are sure that the credit card company will not claim the money back when the real owner of the stolen credit card number disputes the charge on his statement. In such cases PayPal freezes payments until they can make sure the money is coming through the credit card companies. Also, within the PayPal system there is also customer protection, which allows clients to dispute their purchases for several weeks. See how a hold on our account looks like on the image above.
Fortunately in those cases where such a hold appears the payment clears in a few days or weeks and we get the money. In a very small amount of cases we don't and in this case the logo goes back to market. Out of 1500 sold logos we only had to do that 3 or 4 times, so it's only a 0.2% chance for that happening.
We're regularly looking into various payment systems to improve the payment times to designers and help customers pay easier, but so far PayPal seems to be the best out there for our purposes.
Thanks for reading!