Escrow service market research.

[PowerUp]

Hi all,

I'm planning to setup an escrow service specially just to handle domain names. Now before I go about engaging somebody to build the software and subscribe to a dedicated or co-location hosting, I'd like to know if there is any demand for the service I'm offering.

Please Private Message all your feedback. Please don't post your feedback here.
The feedback I'm looking for are answers to the 2 questions below. Of course, you are most welcome to air any other comments you have.
1. Would you use this service?
2. If yes, how many domain sales in a month would you consider using this service?

Thank you for your feedback.

Information for your consideration.
1. I'm operating from Malaysia.
2. Payments received and paid out will be to and from a US Bank account.
3. For the time being, will accept only bank wire transfers. (May accept credit cards if Visa/Master absorbs the chargebacks. )
4. For the time being, withdrawal by bank wire transfers and checks, echecks.
5. Fees: Not decided yet. Could be in the range of $15 or 1.35%, whichever is higher. The current plan is to process transactions less than $10,000.
6. For the time being, will handle domain sales for only .com, .net, .org, .biz, .info.
7. Optional free 1 year registration.

 

[Pound]

Bear in mind escrow services have to absorb the chargebacks that scammers often do (thus one of the reasons for the high commission).

 

[PowerUp]

Bear in mind escrow services have to absorb the chargebacks that scammers often do (thus one of the reasons for the high commission).

If I do accept credit cards, then the escrow fee will be higher than 1.35%
I remember reading that Verified by Visa and Mastercard Secure Code will absorb chargebacks for certain transactions. And if I can allow only those transactions to be processed by credit cards, then I'll accept credit cards.

 

[labrocca]

1. I'm operating from Malaysia.

Unfortunately for me...that's where I draw the line. I wouldn't use an escrow service not based on a country with solid laws and ways for me to get justice in case I get screwed.

 

[PowerUp]

I still haven't received any feedback.