What are the Benefits of the Escrow System for Merchants?

[Suba]

Online trading is increasing, the presence of an escrow system will further increase the security and convenience of buyers and sellers so that they can avoid various types of fraud.

In simple terms, escrow can be interpreted as a third-party platform or intermediary that bridges between sellers and buyers in the delivery of goods and payments. The escrow platform will not send money to the seller before receiving proof of delivery of goods.

 

[Heatman]

The biggest benefit of using this kind of payment system is that it eliminates the possibility of someone getting scammed 100%.

 

[jezebell]

The use of an escrow system in business transactions immensely reduces the risks of a seller or manufacturer and increases the prospects of a successful conclusion. Besides securing the payment, the escrow system also helps ensure the proper and complete documentation of the trade transaction.

 

[relcap23]

Online trading is increasing, the presence of an escrow system will further increase the security and convenience of buyers and sellers so that they can avoid various types of fraud.

In simple terms, escrow can be interpreted as a third-party platform or intermediary that bridges between sellers and buyers in the delivery of goods and payments. The escrow platform will not send money to the seller before receiving proof of delivery of goods.

It's like a letter of credit issued by banks where the seller can only collect the money after all terms and condition are complied with. It's a protection for both the buyer and the seller. The buyer us assured that the goods he is buying are the real goods and seller is assured of a payment after delivery.

 

[Niyi Briggs]

Applying an escrow in your online business would help you to build trust with your clients.

 

[eldavis]

One major benefit for merchants is that it helps to create trust amongst the their customers.

 

[King Belieal]

Escrow has really helped some new businesses to make sales because customers would not be scared of losing their money when patronizing them.