Payoneer Escrow Archives |
Neustar Domain Names

Payoneer Escrow

Escrow KYC Verification is Not Due Diligence


In reading some forum threads and email chains over the last couple of years, I think there is some confusion about the Know Your Customer (KYC) verification at, Payoneer Escrow, and other escrow services. As far as I understand, the KYC verification process is not a form of due diligence for a buyer or seller.

From what I understand, KYC verifies that the buyer and seller in a transaction are who they say they are when the transaction is set up. If a scammer or thief is one party to a deal, the KYC process would likely not be able to “out” that party as a scammer or a thief. The process would simply verify that their banking details match their account details.

Let’s say that Joe is buying from Bob using a domain name escrow service. I believe the escrow service will verify that Bob and Joe are who they say they are. They do not verify that Joe has the funds to buy nor do they verify that Bob actually owns the domain name or has the right to sell the domain name. Essentially, if Bob → Read More

Payoneer Escrow Offering 50% Discount


Payoneer Escrow has a special offer for new clients in conjunction with the Merge Show. I was told that the company is offering 50% off transactions for new customers. The offer is valid on transactions that are started at Payoneer Escrow from now until then end of 2017.

Although this offer is targeting people who have not used Payoneer Escrow before, current customers are able to use the discount if they do a deal with someone who is not a customer. By way of an example, if I (a Payoneer Escrow customer) sell a domain name to a company that has not used Payoneer Escrow before, the discount would be applied. In this case, the new user would start the transaction for the discount to be applied.

This is a nice acquisition (more…) → Read More

Buyers Can Now Start Transactions on Payoneer Escrow


Since Payoneer launched its domain name escrow service, only domain name sellers have been permitted to set up transactions via Payoneer Escrow. As a buyer, this could be frustrating because I would have to rely on the domain owner to initiate a transaction, and I have found that the less friction there is, the less likely a domain owner will back out of a transaction. The sooner I can get a buyer to agree to a deal, sign the purchase agreement, and start escrow, the more likely a deal will close.

This afternoon, Payoneer Escrow announced a couple of platform updates. Domain name buyers now have the ability to initiate transactions at Payoneer. Since domain buyers may have more experience with Payoneer and/or domain name escrow services, this may make transactions easier to set up and quicker to transact.

In addition to this change, sellers can now communicate the domain name transfer or account change information to the buyer directly via the Payoneer Escrow platform. This is a minor change, but it can be helpful to have all → Read More

Payoneer Escrow Shares Update


payoneer-escrowPayoneer Escrow is coming up on its one year anniversary as a domain industry licensed escrow service provider (the  company has existed  longer than that though). I reached out to the company to see if they could share an update about how their business is growing as well as a brief overview about the domain industry. Scott Reynolds, Payoneer Escrow GM, and Brandon Abbey, Director of Strategic Accounts at Payoneer Escrow, provided an update that I could share with readers.

The large escrow providers likely have the best view of the health of the domain space at large. Although licensed escrow providers like Payoneer Escrow and can not generally disclose specifics about deals transacted via their services, I think it is helpful when they offer insights about the current state of the domain business.

Here is what Scott and Brandon shared with me: (more…) → Read More

Payoneer Escrow Now Offering Domain Holding Transactions


Last night  on Domain Boardroom, I learned that domain name sellers and domain brokers can now use Payoneer Escrow for domain name deals with payment plans. At the present time, this includes  domain sales using payment plans where the buyer pays over time. I understand the company intends to add additional  types of domain name deals in the future.

Brandon Abbey explained how it works and what it costs to set up a holding transaction with Payoneer:

"Sellers and Brokers can initiate transactions. There is an initial down/first payment amount of at least $100. Escrow fee is paid over the term of the transaction, not upfront as others require. What does it cost? Our standard escrow fee amortized over the term and the buyer pays a $20/month holding fee."

I think the main best part  of this (more…) → Read More

Payoneer Escrow Offering 50% Discount in April


Payoneer EscrowPayoneer 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 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 → Read More

« Older Entries