Escrow.com coming soon to Shopify

Got this email today:

Hi

We’re thrilled to share exciting news: Escrow.com will soon become a payment option on Shopify!


Escrow.com is not just another payment service provider; it’s your key to unlocking high-value transactions on your Shopify store. Imagine selling items like:

• Collectibles: Rare coins, vintage stamps, or limited-edition memorabilia.
• Luxury Cars: Whether it's a classic Porsche or a sleek Tesla, Escrow.com ensures a secure sale.
• Fine Art: From classic masterpieces to contemporary paintings, every transaction is protected.
• Digital Assets: Domains, websites, or online businesses—Escrow.com handles it all.
• Software Licenses: Safely transfer licenses for software, apps, or plugins.
• Heavy Machinery: Construction equipment, industrial tools, and more.

Why choose Escrow.com?

1. Security: Your funds are held securely until both parties are satisfied
2. Trust: Escrow.com's reputation ensures peace of mind.
3. Diversify Your Business: With Escrow.com, you can confidently explore new markets and revenue streams.

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Good news IMO - Too bad that Escrow.com has shady mods and scams slip through easily.

They are stepping up their game, nice.

Scammers are everywhere and no system is 100% perfect, even in COD, the buyers scam through return policies and sellers scam through providing wrong or less quality products. Distinguishing scammers from the genuine buyer/seller is the main challenge.

From both seller and buyer point of view, minimum 15-20% deals are at the risk of scams. Some buyers scam sellers and some sellers scam buyers. Genuine Sellers can increase the cost of the single product to overcome this loss, but genuine buyers has no such options, they just loose confidence on new sellers after getting scammed. It just benefits the big and trusted marketplaces as users run towards them to avoid scams. Marketplaces favor buyers for their branding and many new sellers end up in loss while selling from a marketplace due to such scams and increase cost.

On shopify like ecommerce platforms, there are mostly new sellers and brands. So if anything like escrow.com can safeguard the buyers, then it can increase their confidence on new sellers selling directly form their ecommerce website instead of marketplaces. It will benefit the new sellers as users can trust on their own website instead of a marketplace who charges them lots of fee. It will also enable them to reduce some cost of the product for benefitting buyers and getting more sales.

So I think its a win-win step for both buyers and sellers.

RoiBox said:

They are stepping up their game, nice.

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It's actually a huge step up indeed.

protoadamantium said:

On shopify like ecommerce platforms, there are mostly new sellers and brands. So if anything like escrow.com can safeguard the buyers, then it can increase their confidence on new sellers selling directly form their ecommerce website instead of marketplaces. It will benefit the new sellers as users can trust on their own website instead of a marketplace who charges them lots of fee. It will also enable them to reduce some cost of the product for benefitting buyers and getting more sales.

So I think its a win-win step for both buyers and sellers.

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Out of all the leading Escrow sites, Escrow.com has the worst support handling these cases because the people working there are clueless. Very often they are not familiar with even the most basic forms of transactions such as domains. It was a huge scamming portal a couple of years ago where people got ripped off their domains constantly.. maybe things have changed now but who knows?

Hundreds of millions of people buy stuff daily through Shopify - I wonder who will support the dispute handling, where they take all the manpower to do that. I hope they have a better system than before, not some clueless pajama support member mediating the transactions.

it will be big change on ecommerce more people will use shopify and escrow.com will be a new leader on the market.

INCC said:

It's actually a huge step up indeed.


Out of all the leading Escrow sites, Escrow.com has the worst support handling these cases because the people working there are clueless. Very often they are not familiar with even the most basic forms of transactions such as domains. It was a huge scamming portal a couple of years ago where people got ripped off their domains constantly.. maybe things have changed now but who knows?

Hundreds of millions of people buy stuff daily through Shopify - I wonder who will support the dispute handling, where they take all the manpower to do that. I hope they have a better system than before, not some clueless pajama support member mediating the transactions.

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Shopify has just added an option for the sellers who want to use escrow, so it's on sellers if they want to use it or not. There are other options active as well, so if someone don't like escrow then simply they won't use it.

I'm wondering what would their fees look like for this. They charge 31.50 on a $500 payment which comes to around 6.3%. For most people this still looks worth it as you get an added layer of security.