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PayProff announced on Tuesday that it obtained a payment license from Finanstilsynet, the Danish FSA, last June and launched a nationwide escrow service.
The platform was created in 2019 by AUTOproff, a Danish used car trading platform, for their unique payment option needs. However, escrow services have proven to be in demand across the European industry. This is a fairly new practice on the continent.
Constantin Jrgensen, CEO of PayProff, said:
The launch made the company’s services available to Danish individuals and businesses.
Escrow services provide payment security during online transactions. Acts as a third-party platform to receive advance payment from Buyers prior to delivery of products or services by Seller. Second, it provides protection against online fraud by releasing payments to merchants.
We help buyers and sellers avoid disputes caused by fear of being scammed and bring secure exchanges to e-commerce, added Jrgensen.
With PayProff, buyers and sellers no longer have to worry about whether they need to send money or items first, or whether they receive items or money.
PayProff has partnered with Luxembourg-based Banking Circle. Banking Circle is a B2B banking service provider for custody of funds.
Buyers no longer have to worry about whether they will get their money back if the company they do business with goes bankrupt or if the goods they buy are defective, and sellers no longer have to worry about paying for goods and services. added the official press release.
PayProff announced on Tuesday that it obtained a payment license from Finanstilsynet, the Danish FSA, last June and launched a nationwide escrow service.
The platform was created in 2019 by AUTOproff, a Danish used car trading platform, for their unique payment option needs. However, escrow services have proven to be in demand across the European industry. This is a fairly new practice on the continent.
Constantin Jrgensen, CEO of PayProff, said:
The launch made the company’s services available to Danish individuals and businesses.
Escrow services provide payment security during online transactions. Acts as a third-party platform to receive advance payment from Buyers prior to delivery of products or services by Seller. Second, it provides protection against online fraud by releasing payments to merchants.
We help buyers and sellers avoid disputes caused by fear of being scammed and bring secure exchanges to e-commerce, added Jrgensen.
With PayProff, buyers and sellers no longer have to worry about whether they need to send money or items first, or whether they receive items or money.
PayProff has partnered with Luxembourg-based Banking Circle. Banking Circle is a B2B banking service provider for custody of funds.
Buyers no longer have to worry about whether they will get their money back if the company they do business with goes bankrupt or if the goods they buy are defective, and sellers no longer have to worry about paying for goods and services. added the official press release.
