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Domain Name Wire | Domain Name News & Website Stuff

Domain Name Industry News and Website Stuff

Featured Domains

Payoneer exits the escrow business

by Andrew Allemann — July 10, 2018 Services 12 Comments

Company throws in the towel just two years after entering escrow business.

Payments company Payoneer is informing customers that it is exiting the escrow business.

The company began offering escrow services when it acquired Armor Payments in 2016. Later in 2016, Payoneer began offering domain name escrow services.

Its domain name escrow business was aided by Brandon Abbey, who was president of Escrow.com until being let go after that company was acquired by Freelancer.com.

Payoneer made some inroads into the domain name escrow business. But as others who have tried to tackle the escrow market have learned, it’s a business of thin margins. Scale is required to run an escrow service profitably.

Losing a key domain escrow service will be difficult for many people in the domain name industry. It’s always good to have at least two strong competitors in order to keep prices down and push companies to improve their service and features.

For example, Payoneer had better “know your customer” tools than Escrow, or at least a smoother policy for implementing legal requirements surrounding them.

In an email, Payoneer Head of Enterprise Strategy & Business Development Matt Watts wrote:

While we have been excited and honored to service prospects and partners like yourself, after careful review of our product portfolio have decided to commit our focus to other areas of the Payoneer business.

As of this evening, the Payoneer Escrow site is still operating.

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12 Comments Tags: escrow.com, payoneer escrow, topstory

Online escrow companies add new features

by Andrew Allemann — December 14, 2017 Services 4 Comments

Escrow.com and Payoneer Escrow announce new features.

Two online escrow companies popular among domain name investors have added new features.

Escrow.com released a new plugin for WooCommerce. It allows the two million WooCommerce users to add Escrow.com payments as a payment option.

The company plans to build additional plugins for online store platforms.

Payoneer Escrow has also added new features.

Payoneer Buy-It-Now buttons are now available. Domain owners can create a button and insert it on a landing page, allowing a visitor to start a transaction to buy the domain name at a fixed price.

The company also introduced domain holding transactions that let buyers pay for a domain name over time.

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4 Comments Tags: domain escrow, escrow.com, payoneer, payoneer escrow

Payoneer gives free escrow to Efty users, half off promo for others

by Andrew Allemann — April 5, 2017 Services 2 Comments

Company makes big April push to win over domain investors.

Domain name sales platform Efty has integrated Payoneer as an escrow service and is offering a good promo to its users in April: all Efty users will get free Payoneer escrow in April when they sell domain names through the platform.

Separately, Payoneer is offering half off an escrow transaction to users in April. A $10,000 transaction will cost $62.50 rather than $125.00.

Payoneer entered the domain name escrow business last year and competes with Escrow.com. Although the company is relatively new to domain name escrow, it has been in the escrow business for several years and is also a massive payments processor.

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2 Comments Tags: efty, payoneer escrow

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