Online payment system Escrow.com has introduced a new streamlined checkout payment system called Escrow Pay.
The system enables the purchase and sale of cars, boats, airplanes or any object of value.
The payment system carries a fee of 0.89%. It can be implemented with a single line of code in any website, mobile app, classified site or marketplace.
It also offers integration of Escrow.com’s payment system for customers favouring a swift solution over Escrow.com API.
Within Escrow Pay, a partner can create a transaction by contacting Escrow Pay API. They will then recieve a link to the checkout flow. The customer can then complete their transaction.
The Escrow Pay button can be included in any web page including shopping cart checkout pages, classified listing pages, domain parking pages as well as mobile apps.
Established in 1999, Escrow.com acts as an intermediary third party between the buyer and the seller by holding the funds till the shipped goods are inspected.
The process is said to improve liquidity across the global market, by allowing the items to get shipped across a state or country before the completion of a transaction. It is also said to facilitate better pricing as well as transaction completion rates, while addressing fraud concerns.