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

How do cross-border escrow services ensure the security of personal information during a transaction?

Cross-border escrow services ensure the security of personal information during a transaction by using advanced encryption technologies and secure communication channels. Castler Digital Identifier system, for instance, uses a combination of SSL encryption, two-factor authentication, and multi-layered security protocols to protect sensitive data from unauthorized access, theft, or fraud. When a buyer and seller agree to use Castler’s escrow service, they are required to provide personal information such as name, address, and payment details. This information is encrypted and stored in a secure database that can only be accessed by authorized personnel. During the transaction, Castler acts as a neutral third-party that holds the funds until both parties have fulfilled their obligations. Once the transaction is complete, the funds are released to the seller, and the personal information is securely deleted from the system. This ensures that the buyer’s and seller’s personal information is protected throughout the transaction, and there is no risk of identity theft or fraud.