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WebMoney Escrow service

The WebMoney Escrow service is intended for conducting secure transactions between the members of the WebMoney Transfer system.

The service makes it possible to make deals between WebMoney members, as well as third-party web services (online stores, marketplaces, bulletin boards) and their clients.

The process of making a deal through the WebMoney.Escrow service consists of the following steps:
  • The deal initiator (can act both as a potential buyer and seller) publishes deal details in the form of a public or targeted offer.
  • The other party receives the offer and can accept or reject it, or make a counter-offer by modifying the conditions of the original one.
  • If the original offer is rejected, it gets voided. If it's accepted a deal is created.
  • Once the agreed security deposits are made, the service awaits confirmations from both parties about the successful completion of the deal and controls its duration.
  • Upon receiving these confirmations, the service refunds the security deposits to deal participants (unless previously instructed to pay for goods/services with the buyer's deposit) and closes the deal.
  • If none of the parties confirm the completion of the deal the security deposits are kept on the service account until the dispute is resolved. If the parties fail to resolve it within 10 days either of the parties has a right to file a suit to the Arbitration service of the WebMoney system. Upon the completion of an investigation both deposits are transferred to the winner.
  • If a deal is mutually rejected, deposites are either refunded or reactivated for a new deal.

The WebMoney Escrow service is integrated into WM Keeper WinPro (Classic) - its interface supports deal creation and management.

Owners of online stores or services can integrate the service into their sites. To do that they need to contact the support service and provide a description of their project. Detailed information for third-party services are available on a special page for the service.

Service site: http://escrow.webmoney.ru

See also:
Creating a deal offer in WebMoney Escrow