Payoneer jumps into domain name escrow business

[SpareDomains]

Global payments company begins catering to the domain name industry.

Global payments company Payoneer is getting into the domain name escrow business with the help of former Escrow.com president Brandon Abbey.

Read more...

http://www.payoneerescrow.com/

http://domainnamewire.com/2016/09/12/payoneer-jumps-domain-name-escrow-business/

 

[domainwest]

I started using Payoneer for the first time and it's already more than 5 days and I haven't received funds in bank account... I hate the support at the moment..Nobody replies... Chat is always offline, Phone number not in use...

If the delay is only for first time use, then I will consider to try them again and probably will use their Escrow... But if the delay in payment is usual with them, then I think it is not good choice.

were u able to gt your money later or did u hear from support and how long did it take?

 

[Name Trader]

were u able to gt your money later or did u hear from support and how long did it take?

Good question.

 

[Messiah]

were u able to gt your money later or did u hear from support and how long did it take?

Hi.. Yes. I was able to receive money. The only support that worked for me was email support. It took around 10 days to get money. The delay was due to some technical glitch and they sent compensation for that.

But now it only takes around 3 to 4 days to receive funds in bank account. The exchange rates are better than PayPal.

 

[domainwest]

Hi.. Yes. I was able to receive money. The only support that worked for me was email support. It took around 10 days to get money. The delay was due to some technical glitch and they sent compensation for that.

But now it only takes around 3 to 4 days to receive funds in bank account. The exchange rates are better than PayPal.

Oh compensation? thats brillant,did the money arrive at your escrow account before moving to o your main Payoneer account or it moved ti your payoner account .

 

[Messiah]

Oh compensation? thats brillant,did the money arrive at your escrow account before moving to o your main Payoneer account or it moved ti your payoner account .

This issue was with delay in Payoneer account. I haven't used their Escrow service yet.

 

[internext]

I signed up and hope to try Payoneer Escrow on my next deal. Do they support domain holding?

 

[ET76]

@Brandon Abbey I wonder when will the full escrow service like The Escrow.com Concierge will be on the Payoneer Escrow services as well? I think the safety on the seller's side is not complete guaranteed as the buyer side without this service. Currently, Sedo.com, Escrow.com and Epik.com who have provided full escrow, or maybe more..

 

[anantj]

I signed up and hope to try Payoneer Escrow on my next deal. Do they support domain holding?

Not at this time

 

[internext]

Yeah, I found that out. Hopefully in the future. Its a great financial tool to have at your disposal for creating larger sales

 

[anantj]

Yeah, I found that out. Hopefully in the future

Yup. I'm hoping that they introduce this soon...

Epik provides this (http://www.epik.com/services/escrow/) but then the buyer has to be agreeable to receiving the domain in their Epik account only. I'm not sure how Sedo & Escrow.com handle this but this might be an issue for some buyers (Especially large buyers who have a portfolio in one of the brand protection services like MarkMonitor etc)

 

[Kuffy]

How does the concierge service work. Does Escrow.com have accounts with all major registrars so that they can accept pushes, or do they transfer names into an account with their preferred registrar, and then move it into the buyers registrar account. If it is the latter case, is there a 2 year extension requirement plus the fee for the Escrow extension? How about the delays required in registrar transfers, does the buyer have to wait for these to pass?

 

[anantj]

How does the concierge service work

I don't know exactly how but I expect will need to have some sort of a special arrangement. Not exactly equal, but Namejet moves domains from a sellers eNon account into a special holding account with eNom from where it is transferred into the buyers eNom account. Not exactly the same as all 3 accounts are with eNom possibly they have some special holding account as well. Maybe an arrangement with Verisign?

I'd like to know a better answer to this as well

 

[domainwest]

have used them once and it was superb only that they don't offer domain holding and the seller is not completely safe as there are some evil buyers that might want to play fast,i had to screenshot all our messages and the transfer process inacse,and the buyer confirmed receiving the domain,however if the buyer didnt confirm it and no action was taken the money will be automatically paid into the sellers account within 1-3days in case it was within 6hours straight into my payoneer account..i will use them over and over again

 

[Brandon Abbey]

@Brandon Abbey I wonder when will the full escrow service like The Escrow.com Concierge will be on the Payoneer Escrow services as well? I think the safety on the seller's side is not complete guaranteed as the buyer side without this service. Currently, Sedo.com, Escrow.com and Epik.com who have provided full escrow, or maybe more..

Hello ET,
You will see an announcement from us fairly soon. If anyone would like to make recommendations on any special needs you have that are not currently being addressed please email me at [email protected]. BTW - we won't be charging double the escrow fee to handle a transfer
Thanks,
Brandon

 

[hookbox]

Hello ET,
You will see an announcement from us fairly soon. If anyone would like to make recommendations on any special needs you have that are not currently being addressed please email me at [email protected]. BTW - we won't be charging double the escrow fee to handle a transfer
Thanks,
Brandon

How Escrow.com didn't lock you out of the escrow industry with a rock solid non-compete clause is beyond me. It is great knowing that the best guy in the business is back with the future of escrow services. Payoneer is lucky to have one of the best in the industry.

Congrats to you Brandon.

 

[internext]

I wonder why Payoneer didn't keep the Armor name? Was there any bad vibes with that service? It just seems that to buy into their escrow service you also have to buy into Payoneer, too. And Im not so sure that brand translates well to buyers who may see it as a non domestic enterprise. Dont know why but Payoneer just never felt good to me. Trying to sign up for a payments account was not a very friendly process as I recall. Am I wrong?

I wonder if the domain name including Payoneer is at a detriment to the escrow service? I think it is. Some may attach general negative experiences to the new escrow service and prefer to not use it. I'd rather a generic name - like Armor was - for the branding and domain name, with "a service of Payoneer" in the footer and legalese. i think that would create a far better appearance.

No matter how good a service may be, it may not be easy to commit to it if trading partners may not potentially feel comfort. Thats my only concern. One man's opinion.

 

[hookbox]

I wonder why Payoneer didn't keep the Armor name? Was there any bad vibes with that service? It just seems that to buy into their escrow service you also have to buy into Payoneer. And Im not so sure that brand translates well to buyers who may see it as a non domestic enterprise. Dont know why but Payoneer just never felt good to me. Trying to sign up for a payments account was not an intuitive or friendly process as I recall. Am I wrong?

I wonder if the domain name including Payoneer is at a detriment to the escrow service? I think it is. I'd rather a generic name - like Armor was - for the branding and domain name, with "a service of Payoneer" in the footer. i think that would create a far better appearance. One man's opinion.

Payoneer by a wide margin is much more brandable than ArmorPayments. It's a play on Pioneer which fits perfectly for a company trying to do things differently than companies in the past. Good name.

 

[internext]

I understand the name Payoneer is good and its connotation. Im also not suggesting Armor is a better name. It could be an entitely new name. My point is the name PayoneerEscrow.com is already attached to a company that others may have connotations toward and may not feel comfort with. As has already happened to me when trying to convince a trading partner to use the new escrow service.

For instance Escrow.com is not called FreelancerEscrow.com (regardless of name branding quality) and paypal was never renamed EbayPayments.com. Because the inclusion of the parent name could cause harm the core service appearance to some.

Im probably overthinking this and will use the service with full confidence. I know this will be a superb service under Brandon's helm. Just food for thought, respectfully.

 

[Brandon Abbey]

Couple of updates. The armorpayments URL is gone - https://escrow.payoneer.com/blog/bye-bye-app-armorpayments-com-hello-pay-payoneer-com

Euro and GBP are live. Domain Holding transactions are live. Keep those suggestions coming. Thanks

 

[000]

Guess it's time to update your NamePros profile then to make it truly official.

Good to see the Domain Holding option!