You’ve come up with the perfect name for your business. You register it. And because you also want to have an online presence for your business, you decide to register a domain. But alas, the don’t domain you really want has been taken. The person who owns it is not using it. They’ve just parked it. You make contact with them and manage to convince them to sell it to you for a fair price.
Now you and the seller are faced with a challenge: how do you ensure that the transaction goes smoothly? Do you send them the money and trust that they will transfer the domain to you or does the seller transfer the domain to you before you pay?
This is where an escrow service like Paysho comes in. An escrow service is a third party that holds the money until the domain is transferred. It works as follows:
1. Once the buyer and the seller agree on the price for the domain, they can set up an escrow transaction on Paysho.
2. The buyer pays the money into Paysho.
3. Once Paysho confirms that they have the money, we instruct the seller to transfer the domain.
4. When the buyer confirms that the domain has been successfully transferred, Paysho will transfer the money to the seller.
Both the buyer and the seller can conduct the transaction with complete peace of mind knowing that they are safe from any potential scams. For more information on how Paysho works, you can click here: