Irvine, CA – August 8, 2003 – Escrow.com, a wholly owned subsidiary of iLumin Software Services, Inc., today announced it is expanding its relationship with eBay, the world’s online marketplace, to become the recommended escrow provider to eBay.co.uk. The company’s escrow services, which have been available on the eBay Motors website since April 2000, and on eBay, will now be offered to eBay.co.uk users in Pounds sterling for transactions primarily over £250. The new multi-currency capability offered by Escrow.com adds a new convenience for an active base of eBay users.
“There is an evident need to provide a recommended escrow service such as Escrow.com in the eBay.co.uk community,” said Robert Miller, Director of Legal Affairs, “and we believe that the added convenience of settling transactions in GBP will contribute to the users’ satisfaction with eBay.co.uk.”
An escrow service, provided by Escrow.com, acts as a neutral third party in a transaction. The buyer sends payment for the item to the escrow service, which holds the payment until the seller sends the item to the buyer. When the buyer accepts the item, the escrow service forwards the payment to the seller.
“Escrow.com’s services are a perfect complement to PayPal and offer a payment type for more expensive goods that is easy, timely and secure,” said Adrienne Cole, General Manager, Escrow.com. “We are happy to provide the added convenience of offering an escrow settlement capability in Pounds sterling to the eBay community.”
Escrow.com offers the freedom for anyone, anywhere to buy and sell online – within a regulated escrow environment. Escrow.com is fully licensed and accredited to provide escrow and settlement services both nationally and internationally.
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About Escrow.com, Inc.
Escrow.com, an Irvine, CA based company, and its operating subsidiaries are wholly owned subsidiaries of iLumin and provide transaction and payment settlement solutions, including licensed escrow services, to facilitate and accelerate e-commerce. Escrow.com offers a secure transaction settlement engine that automates all necessary components for completing online transactions, including ongoing progress tracking, performance monitoring of all participants, proactive communications to drive process flow, and reliable collection and disbursement of funds to all parties. For more information, please visit: www.escrow.com.
About iLumin Software Services, Inc.
iLumin provides world-class intelligent message surveillance, archival and management, email security, encryption, and electronic signatures products and solutions. With over 100 implementations and over 1 million licensed users on iLumin products, iLumin is the leader in providing trusted, secure and compliant solutions for the financial, government, health care and corporate markets. iLumin investors include: DB Capital Venture Partners, MidOcean Partners, Rock Creek Capital, Softbank and Wachovia Strategic Ventures. For information about iLumin, email info@iLumin.com or call 703.481.8627.
About eBay
eBay is The World's Online Marketplace™. Founded in 1995, eBay created a powerful platform for the sale of goods and services by a passionate community of individuals and businesses. On any given day, there are millions of items across thousands of categories for sale on eBay. eBay enables trade on a local, national and international basis with customised sites in markets around the world. eBay.co.uk was founded in 1999 and is now the UK’s number one e-commerce site (Nielsen Net Ratings, June 2003).
Contacts:
eBay UK
Jennie Reed
eBay UK
Phone: 0208 605 3026
Email: Jennie.reed@ebay.com
Escrow.com
Adrienne Cole
Phone: 949.790.5800
Email: acole@escrow.com
Escrow.com European Inquiries
Gareth Evans
Phone: +44.1787.319853
Email: gevans@iLumin.com