Anyone can use the Rapyd Hosted Checkout Page to receive a payment and hold the funds in escrow for later release after all parties have completed their part of the payment agreement.
An escrow is an arrangement to hold funds in a transaction between two or more parties. Typically the time when the funds are released to the seller is based upon agreed requirements between the parties. For example, once a luxury art piece is delivered, or after the closing of a real estate property deal.
When a payment is made and held in escrow, there are a few ways for the escrow to be released:
Full or partial release on demand.
Release automatically after a specific number of days.
Partial releases can be released by amount or percentage and proportional or non-proportional.
Any developer or merchant collecting an escrow payment without the highest standard of payment card compliance should consider using a secure way of handling sensitive credit card information. The Rapyd Hosted Checkout Page is a way to generate a secure webpage and incorporate it into your user flow. The Hosted Checkout Page can also be embedded directly into your website for a seamless user experience.
The following is an example of how to create a Hosted Checkout Page, accept a payment to hold in escrow and then release the payment.
