A couple of months ago, I published an interview with Scott Reynolds, President of Payoneer Escrow. From speaking with Scott and Brandon Abbey, it was made clear to me that the company was going to make changes to its platform to help domain investors transact securely.
This morning, I was informed by Brandon Abbey that Payoneer Escrow is now “accepting credit card payments for transactions up to $2000.” This is a good idea because I find that some people that buy domain names from me aren’t all that familiar with wire transfers or are inconvenienced by having to send a wire transfer from their bank. Accepting credit cards makes it easier and quicker for those people to transact, and when there are less hurdles to completing a deal, it’s better for both parties.
One other update that was made at Payoneer Escrow is that if a transaction falls through, Payoneer Escrow will not charge the escrow fee. I am sure it would be annoying to go into escrow, have the other party cancel the deal, and still be charged a fee.
I have been trying to get a counterparty to use Payoneer Escrow for the last couple of months, and I will continue to try to do so in order to see how Payoneer works. I think competition is generally good for consumers, and having several domain name escrow options will benefit those of us who transact using escrow services.