To further streamline its payment processes, Efty has integrated the recently introduced Escrow.com Platform application programming interface (API) into its online payment processes for buyers and sellers of domain names using its services.
Escrow.com, the worldâs most secure payment system from a counterparty risk perspective, already underpins Eftyâs domain sales payments system with new integration while Efty has made a name for itself in the domain name sector with its popular commission-free, domain name sales platform.
In a statement announcing the integration Efty notes that Escrow.com has safely processed over US$3.5 billion in transactions with its secure escrow service. It released its API in public beta late last year, giving businesses and individuals the ability to build the functionality of the Escrow.com Platform directly into their online platforms.
Efty has become the latest prominent domain name industry player to adopt the full capabilities of the Escrow.com API. The integration protects both buyers and the sellers on the Efty site, with Escrow.com acting as a trusted third party, holding the funds for big-ticket items, allowing handover of the domain being transacted to occur prior to funds being released.
âEscrow.com has had a longstanding relationship with Efty, and together we have helped people sell and buy thousands of domains over the years,â said Escrow.com General Manager Jackson Elsegood. âWith this new integration of the Escrow.com API, Efty is able to tap into the full potential and latest functionality of the entire Escrow.com Platform.â
âThe new Escrow.com API allowed us to integrate Escrow Pay into Efty,â said Efty Head of Product Doron Vermaat. âWith Escrow Pay, we remove a lot of friction from the escrow process because buyers are now redirected to a wizard on Escrow.com where they can complete an escrow transaction in a few easy steps.
âAt Efty, weâre always looking for the most buyer-friendly workflow possible, and this new integration allows us to deliver on that while ensuring that sellers are protected from counterparty risk with no chargebacks, ever. At the same time, buyers can be assured that their money is safe and secure, held in trust, until they are satisfied they have received what they are paying for,â Mr. Vermaat said.