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 protect against chargebacks and payment disputes?

A cross-border escrow service, such as Castler’s digital escrow system, can help protect against chargebacks and payment disputes by acting as a neutral third party that holds funds until both parties involved in a transaction are satisfied with the outcome. This means that the buyer can feel secure in knowing that their payment is being held in escrow until they receive the goods or services they paid for, and the seller can feel secure in knowing that the funds are being held until the buyer confirms that they are satisfied with the transaction.

If a dispute arises, the escrow service can act as a mediator to help resolve the issue. This can help prevent chargebacks, which occur when a buyer disputes a charge with their bank or credit card company, and can result in the seller losing the payment and potentially incurring additional fees. By using a cross-border escrow service, both parties can have peace of mind knowing that their transaction is being handled securely and fairly.