Cashfree Payments unviels ‘One Escrow’ to ensure financial transparency
By Gloria Mathias
Cashfree Payments, a payments and API banking company has launched ‘One Escrow’, an all-in-one escrow service platform. One Escrow is Cashfree Payments’ premier modular escrow solution that ensures complete trust and transparency in financial dealings.
With this plug-and-play escrow solution, merchants can go live three times faster while being completely compliant with the regulatory requirements. This revolutionary offering addresses the growing concerns over financial fraud and uncertainties in online transactions while also adapting to the changing regulations affecting businesses across various industries.
Akash Sinha, CEO and Co-Founder at Cashfree Payments said, “One Escrow is a significant step in bolstering trust, security, and transparency in online transactions. From agreement creation to escrow party identity verification, it serves as a single platform for businesses to manage operational and compliance needs, enabling confident execution of online financial transactions. As the market leader in payouts, we are committed to innovating and empowering businesses with secure and efficient financial solutions and One Escrow will be at the forefront of enhancing trust, security, and transparency in digital payments.”
Using ‘One Escrow’, businesses can effortlessly add all parties related to an agreement, move the agreement through various states with a single click, and automate final payouts to beneficiaries added in the agreement object. Comprehensive tracking of all transactions, including credits and debits related to an escrow agreement is available through the merchant dashboard.
With One Escrow, merchants can also create multiple customer-level ledgers through APIs and dashboards, to enable best-in-class reconciliation and management of pay-in and pay-out information on their escrow account. To ensure safety and trust, all escrow parties are verified, including PAN and bank account details, to prevent financial fraud.
Additionally, One Escrow can be tailor-made to support all business use cases including but not limited to payouts, co-lending, supply chain financing, marketplaces/D2C/e-commerce, HRMS/Payroll platforms for salary payouts and many more.
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