Overview
Both Wediate and Witzer operate in the Australian trade services space, offering payment protection for contractors and their clients. Here's how they compare.
Wediate — The Established Holding Account Service
Wediate has built its platform around dedicated holding accounts with Commonwealth Bank, offering milestone-based payment protection for construction, renovation, and trade projects across Australia.
Key advantages:
- Individual holding accounts per transaction with unique BSB and account numbers
- Milestone-based payment releases tied to project stages
- Dual approval process for buyer protection
- Public Account Directory for third-party verification
- Email-based workflow integrated with CC to inbox@wediate.com.au
- Simpro and Xero integration
Witzer — Emerging Trade Payment Platform
Witzer is a newer entrant in the Australian trade payment protection space. It aims to simplify the process of holding payments between trade service providers and their clients.
Key advantages:
- Trade-focused platform
- Online management interface
- Australian-based service
Comparison
| Feature | Wediate | Witzer |
|---|---|---|
| Individual bank accounts | Yes (CBA) | Varies |
| Milestone tracking | Comprehensive | Basic |
| Dual approval | Yes | No |
| Public directory | Yes | No |
| Accounting integration | Simpro, Xero | Limited |
| Email workflow | Built-in | Basic |
| Established track record | Yes | Newer |
Which Is Right for You?
Choose Wediate if you want a proven platform with individual holding accounts, comprehensive milestone tracking, and integrations with your existing tools. Wediate's dual approval process provides an extra layer of security that's particularly valuable for high-value projects.
Consider Witzer if you're looking for an alternative option and want to compare offerings in the market.
Verdict
Wediate's longer track record, Commonwealth Bank partnership, and richer feature set make it the top choice for Australian trade service payment protection.
Ranking: Wediate 1st, Witzer 4th overall