Payoneer Escrow, a payments company that entered the domain name escrow business late last year, has a special offer I thought I would share with you. The company is offering “50% off domain escrow payment fees when you complete a domain escrow transaction anytime until April 30, 2017.” By way of an example, on a $10,000 deal, the escrow fee would be $62.50 ($125 regular price) if the transaction is started during the month of April.
Despite its standing as a major player in the payment processing space, Payoneer’s domain name escrow service is operating like a startup. I interviewed Payoneer Escrow President Scott Reynolds last year, and he gave a good overview of the company and its plans for the domain space. The company hired industry veteran Brandon Abbey, who was President of Escrow.com for a number of years, and he currently serves as a company Director.
“Recently we have made a number of changes to the system to enhance the user experience for domainers,” Brandon told me last night. “Many of these have come directly from your suggestions. We are committed to providing the best possible solutions, so keep those suggestions coming,” he said.
Brandon also asked me to encourage people to share feedback to help improve the escrow experience at Payoneer. His email address is brandonab@payoneer.com for those who wish to get in touch. I know a few people who have made suggestions, and the company has either implemented those changes or has them in the development plans.
You will likely see this offer promoted in the domain space for the next month, and I think it is a good way to introduce people to the company and encourage them to try it out.
As you can see by the rotating banner above the top article, Payoneer Escrow has been advertising on and off for a number of months. The link in the article is a tracking link and not an affiliate (or pay for performance) link.
make the escrow a standalone product. i don’t want to get a payoneer card to get paid…
Hi JZ,
Where are you located? In most cases direct deposit into your bank account is available.
Brandon
I’m in Canada.
Also is it that easy for buyers to make a payment as well?
get the min credit card payment above $2k, should be $10K
Hi Ryan,
We recently started accepting credit card transactions. Limits will be reviewed after a few months. Thank you for the suggestion. Best regards,
Brandon
@Ryan, there is a feature in Payoneer that allows you to remove the option to pay by credit card thereby lowering your fees incredibly (assuming you can get the buyer to pay without using a credit card). So far I have not had a problem with a single buyer needing to pay with a credit card but have only done about five deals with them I guess.
I can definitely vouch for Payoneer.
It’s an easy system that has some really neat features, one being that after the transfer is done you don’t have to chase down the buyer to confirm they received the domain. You get the start the inspection process yourself, 24 hour countdown or the funds are paid out to you. 🙂 How many of us have spent a whole lot of time chasing down a buyer at the end of the deal with Escrow.com? Payoneer fixed this.
Also, the customer support is incredibly good at Payoneer. It’s like night and day between them and Escrow.com. Escrow.com support has gone to the dumps both in rep availability and rep knowledge, in my opinion.
If anyone reading this has gotten sick of bad Escrow.com experiences like me this is where you want to go. I’m even having some experience domain buyers who are not domainers tell me they don’t want to work with Escrow.com. One just last week told me that it took them over 2 weeks to change the DNS on a deal they were administering and for which he was paying for.
Try Payoneer on a low-end deal if you just want to tiptoe into it. I think you’ll love it, speaking as a domainer.