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Closed - Out of date / How To Build Paystack Like System / I Want To Start An Escrow Company, What Do You Think? (2) (3) (4)
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An Escrow Like System by Birniwa(m): 4:24am On Mar 12, 2016 |
Hi everyone, I just founded a startup (Web presence and mobile app yet to be built) that involves the transaction of money between two parties. To be able to build a system both parties can trust, I need to integrate a system like Escrow that receives and holds money for a certain period of time. However integrating Escrow costs a lot (I heard they charge 3.25% for non USA residents which is too high). Now I want some advice if there's an alternative system I can use or just any other way my clients can trust me with their money until transaction is completed. Thank you. |
Re: An Escrow Like System by Nobody: 7:27am On Mar 12, 2016 |
Birniwa: Frankly, we are in the same shoes as it seems that with my programming skills I know less about the Escrow integration, It can be built from scratch but you'd need more of an accountant and a lawyer than a programmer. Better still you can ask your programmer to use PayPals API, they accept such payment only that they won't move the money around but schedule a payment for the agreed date, so PayPal will release or return the cash depending on the outcome of the deal. They are a lot of risks involved in running an Escrow like system, The best way customers can trust you is if you have necessary certificates like SSL and others..without those certain certificates , it is even illegal to run an Escrow system on your website. So I guess you even see why Escrow.com is expensive. |
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