Castler closes Pre-Series A funding of $6 Million led by Flipkart, Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

How can a cross-border escrow service help businesses reduce their risk exposure in international transactions?

A cross-border escrow service, such as Castler’s Digital Identifier system, can help businesses reduce their risk exposure in international transactions by providing a secure and neutral third-party platform for the exchange of funds and goods. This means that both the buyer and seller can have peace of mind knowing that their transaction is protected and that they will receive what they paid for.

The escrow service acts as a mediator between the two parties, holding the funds until the agreed-upon conditions are met, such as the delivery of goods or services. This eliminates the risk of fraud or non-payment, which can be a common issue in international transactions.

Additionally, the use of a Digital Identifier system can also help to streamline the transaction process, reducing the time and costs associated with traditional methods of payment and delivery. This can be especially beneficial for small businesses or those new to international trade, as it allows them to expand their reach without taking on unnecessary risk.