Thursday, 13 December 2018 11:16

Escrow launches in Australia

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Global secure payments system Escrow.com has launched in Australia with the introduction of Australian dollar capability for online escrow payments.

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.

“Now, for the first time, merchants and online marketplaces in Australia have the ability to tap into the security and power of Escrow.com, ensuring safe transactions for buyers and no chargebacks, ever, for sellers,” the company says in its announcement of entry into the Australian market.

“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.

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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