Escrow.com says its platform can be used for secure transactions involving any item of value, including domain names, vehicles, machinery, aircraft, space station hotel deposits “or anything that a business or an individual might want to buy or sell safely online”.
According to Escrow, it has safely processed more than US$3.5 billion in transactions with its secure service, and acts as a trusted third-party that collects, holds and only disburses funds when both a buyer and a seller are satisfied with a transaction.
The company pitches its service as ideal for transactions from $100 to $10,000,000 or more.
“Escrow.com has already made a name for itself in other markets, delivering unprecedented safety and security for online transactions, thanks to the escrow process, which sees funds kept in trust until all involved parties are satisfied with the deal,” said Escrow.com general manager Jackson Elsegood.
“With the launch of Australian dollar capability, buyers and sellers in Australia can now make the most of what this escrow process has to offer.”
Escrow.com’s Australian dollar launch comes just weeks after the launch of Escrow Offer, promoted as the “easiest way to introduce the power of price negotiation into online platforms”.
This followed the release of Escrow Pay, which lets businesses integrate the protection provided by the Escrow.com API directly into their websites, mobile apps and online marketplaces.