Introducing Twine’s New Payment System!

We are super excited to announce a massive overhaul of how payments work on Twine. We wanted to add much more flexibility across payment functionality, making the overall process simpler, and allowing for multi-hire projects!

There are now three types of payments:

  1. Vault payment: Clients can now store an upfront payment in the Twine Vault and then release it to the freelancer
  2. Direct payment: Clients can now make payments that are immediately released to a freelancer
  3. Bill payment: Freelancers that have been hired can now bill clients for work

As A Freelancer

When making a hire, clients will now be asked to make a Vault payment to secure a freelancer’s payment on their project. This is an upfront payment paid to, and held by, Twine before being released to you at the point of client approval.

Since the payment is held by Twine, you can feel safe in the knowledge that if you’ve delivered what was agreed, you’ll be paid for your work. All payments stored in the Vault are automatically released to the freelancer after 90 days.

Once the initial payment is released, clients will have the option to make further Vault payments, or to issue Direct payments. Direct payments do not require client approval, and will be immediately processed by Twine and released to you.

We therefore recommend that milestone payments are discussed when agreeing the payment terms for each job. It’s now no longer necessary to attach “final files” for approval, which allows you to be paid over the course of the project, not just a lump sum when the job’s completed. 

This is particularly useful when working with a brand new client, and they want to see proof of work (drafts files) before releasing the funds, or for longer term projects more suited to milestone payments.

Freelancers can now also bill clients for any additional work! Send through a request with a Statement of Work, and get paid accordingly. Keep in mind that once bills have been issued, they cannot be amended or cancelled.

As A Client

Our new payment system enables makes it much simpler to make payments to freelancers, and allows for multi-hire projects! 

Make an upfront Vault payment to secure your freelancer, and ensure you get the final deliverable you’ve asked for by choosing when to release payment. Vault payments are automatically released after 90 days.

Once the initial Vault payment has been issued, you can work with freelancers flexibly by allowing them to issue bills through the platform. Review the attached Statement of Work, and select Pay Bill when ready.

Finally, you can now hire multiple freelancers on the same job. Payments for each freelancer work in the same format as with a single freelancer. You’ll also have the option to end a hire with a single individual, whilst still continuing to work with other freelancers.

This Payment update is the beginning of many major improvements to Twine over the coming months. We’re committed to developing a better platform for clients and freelancers alike, so watch this space!

Stuart

Comments

Stuart Logan

Stuart Logan

The CEO of Twine. Follow him on Twine and on Twitter @stuartlogan – As the Big Boss, Stuart spends his days in a large leather armchair, staring out over the Manchester skyline while smoking a cigar and plotting world domination. (He doesn’t really). Originally from Salisbury, UK, he studied computer science at Manchester University but was always keen to break into the exciting world of start-ups, and was involved in a number of ventures before finalising his plans for Twine. When not wearing his chief executive hat (metaphorically speaking) he enjoys harbouring unrealistic expectations for Manchester United’s future success and live music.