Freelancer.com - Escrow.Com - Company of the Year
Company: Freelancer.com, Sydney, NSW Australia
Company Description: Ten-time Webby award-winning Freelancer.com is the world’s largest freelancing and crowdsourcing marketplace by total number of users and jobs posted. More than 23 million registered users have posted over 11 million jobs and contests to date in over 950 areas as diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace engineering and manufacturing.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year
Nomination Title: Escrow.com
Tell the story about what this nominated organization has achieved since 1 January 2016 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
Escrow.com is the leading provider of secure online payment and transaction management for consumers and businesses on the Internet, with over $3 billion in transactions protected so far. Escrow.com reduces the risk of fraud by acting as a trusted third party that collects, holds and disburses funds according to buyer and seller instructions. Online businesses and consumers are challenged by the possibility of fraud, non-delivery and non-payment every day. Much of the business-to-business and high-value trade is conducted using letters of credit, which are expensive and time-consuming to acquire, while low-value trade completed using credit cards exposes merchants to chargeback risks.
Escrow.com’s solution is more simple, more cost-effective and faster to implement than letters of credits without the credit card chargeback risk. While there is a large amount of innovations in payments, most of it revolves around buying a cup of coffee rather than selling anything of real value, like a car. Escrow.com protects your most important transactions by guaranteeing the seller the payment without any risk of chargebacks, and the buyer that they will only pay if they are happy with the goods and services delivered. This simple guarantee allows people all over the world to do business without the need for costly letters of credit or delivery concerns.
Escrow.com’s in-house developed escrow management platform allows us to manage the collection, holding and disbursing of funds in and out of thousands escrow accounts faster and more accurately than any other escrow provider. Escrow.com operates online and 24/7, a significant advantage over other providers where escrow processing is completed by legal professionals on a much smaller scale at much higher cost.
Our unique platform also allows us to customise each escrow account to suit the goods and services being transacted, desired transaction terms and payment methods, as well as assess the risk that Escrow.com is exposed to in the transaction. Escrow.com’s solution can be integrated into existing marketplaces easily via our fully documented RESTful API, which allows marketplaces to refer transactions from their customers to the Escrow.com to be managed through agreement and funds transfer. The simplicity of a RESTful API means that any marketplace connected to the Internet can integrate with Escrow.com by simply sending an HTPS request. Escrow.com is also able to provide dedicated integration engineers to assist large partners to integrate with Escrow.com. Integration with
Escrow.com allows partner marketplaces to offer a payment solution without requiring PCI compliance while also reducing the incidence of fraud and credit card chargebacks on their platforms. Because of these benefits, Escrow.com has become the recommended transaction settlement service of many of the top names in eCommerce, including Ebay, Cars.com, AutoTrader, GoDaddy, Flippa, ArtPrice.com, and Diamonds.net, the world’s largest online diamond marketplace. In fact, in their support articles, Ebay Motors explicitly states for transaction settlements to be done by ”Escrow.com only”.
2016 was an outstanding year for Escrow.com as we revamped site and released a new mobile responsive and multilingual front end. Due to the new payment methods that were added for international users, and increased payment processing times to the fastest in Escrow.com’s history. Our multilingual support team, now working in four locations (San Francisco, Vancouver, Sydney, Manila), is available to our users every single day of the year and at all times of the day. By adding live chat technical support, whose average response time is 20 seconds, to our support team, we guarantee our users the best quality assistance and experience on our platform.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2016 (up to 150 words).
-Escrow.com is the leading provider of secure online payment and transaction management for businesses on the Internet, with over $3 billion in transactions protected.
- Escrow.com is used by customers all over the world due to its application in securing online international trade with over 900,000 users
-Added support teams – in four locations (San Francisco, Vancouver, Sydney, Manila), with extended hours and new offering of multilingual support.
-Added live chat technical support - average response time of 20 seconds
-Added new payment methods for international users, and increased payment processing times to the fastest in Escrow.com’s history Revamped site
- Released a new mobile responsive and multilingual front end Mobile responsive and multilingual website, with a plan to add an additional 32 language options as well as
-Introducing additional currency options in the future Escrow.com generated $7.5. million in net revenue in 2016.
Of the following measures of success, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2016?