Escrow - is the future brighter?

How payments providers are revolutionising escrow

Escrow is the act of holding funds in a third party account when a payment is made. Once the transacting parties are happy, the transaction can be authorised and the funds released.

Escrow has the potential to significantly augment the growing platform economy, but up until now, it has neither been widely utilised or understood.

In this Paybase whitepaper, we cover:

  • The ramifications of the digitisation of escrow
  • Why the platform economy is the perfect space for the instrument
  • How innovative payments providers are optimising escrow to cater to the demands of modern consumers
Get a copy of this whitepaper
marketplaces

What we offer

An escrow solution that will hold funds when a payment is made between a buyer and a seller. Once both parties are happy, the escrow transaction can be authorised and the funds released.
  • As an alternative, we also offer the “Lite” option, which is not an escrow service but where Paybase accepts funds on behalf of the seller only and releases them on pre-agreed terms.
  • Please note: Paybase's escrow services are only available for platforms and businesses seeking to introduce escrow functionality as part of their offering. We are not designed to set up standalone escrow transactions for businesses or individuals to participate in themselves.

Escrow for platform businesses and escrow providers

Who is it for & Benefits

Ideal for platform businesses such as Online Marketplaces, Gig & Sharing Economy Platforms:
  • No involvement needed, Paybase handles everything
  • Unlimited holding period
  • Smooth, easy splitting
  • Sophisticated scheduled payouts

  • Ideal for escrow providers targeting a new vertical who want to get to market quicker:
  • Fully bespoke white-labelled, end-to-end solution
  • Unlimited holding period
  • Smooth, easy splitting
  • Set flexible milestones via API for complex projects
  • Pain points we are solving...

    For platform businesses:
  • High cancellation rates affecting your sellers
  • Transactions being taken offline, limiting your revenue
  • The lack of security users currently face when performing high value cash transactions

  • For escrow providers:
  • The difficulties and complexities of becoming a regulated payments institution and going live - win the race to market!
  • The growing need for new providers to differentiate in an increasingly competitive market
  • Get to market faster with Paybase

    Easy integration, made for
    • Get started in days
    • No set-up costs
    • No monthly minimum commitments
    • One simple integration
    • No additional staff required
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    Your business Market ready

    With Paybase

    • Get started in days
    • No set-up costs
    • No monthly minimum commitments
    • One simple integration
    • No additional staff required
    Your business BIN Sponsor Ops/Compliance/AML Processor PSP Acquirer KYC/KYB EMI License Market ready Risk Management Client accounts

    Without Paybase

    • Get started in months
    • High set-up costs
    • Monthly minimum commitments
    • Complex integrations
    • Additional staff required
    Your business Market Ready Your business BIN Sponsor Compliance/AML Processor PSP Acquirer Market Ready KYC/KYB Risk Management EMI License Client accounts Market ready
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    How Paybase can help your business

    Focus on your core business, we'll manage the rest
    Fast

    We spare you multiple integrations with multiple payments partners and take care of Compliance and Risk so you don’t have to. With no internal process overhauls and one touch point, we can get you to market faster.

    Flexible

    We support a myriad of eMoney use cases straight out-of-the-box and can easily adapt to any changes in your requirements today or later down the line.

    Reliable

    We are fully licensed as an Electronic Money Institution by the FCA and have been operating since 2013. All our systems have built-in redundancy and failover measures, delivering at least 99.95% uptime.

    Secure

    Security is our most important focus. All our systems are safely enclosed in a private cloud with traffic carefully controlled by strict access policies. Your data is encrypted at rest and in transit, over the internet, and within our private networks.

    Compliant

    We are PCI DSS compliant so that you don’t have to be. All actions in the system are automatically logged and attributed, generating a detailed audit trail of change. There's no need to worry about compliance as all necessary checks will be enforced through our API.

    Developer native

    Our team of engineers understands how difficult integrations can be, so we've designed our API to be as simple and intuitive as possible. No more headaches with SOAP and XML.

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