Armor Payments Launches First Escrow as a Service (EaaS) Payment Solution to Power Secure Online B2B Transactions

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New developer-friendly API enables third-party applications to easily integrate a full service online escrow solution and facilitate secure B2B payments.

To support the dramatic growth of business-to-business (B2B) e-commerce, Armor Payments, a leading B2B payments provider, announces the launch of the first Escrow as a Service (EaaS) payment solution. With Armor Payments EaaS, third-party applications such as B2B marketplaces, crowdfunding services, and solutions requiring B2B disbursements can easily integrate and offer secure escrow payments between their payers and payees to cost-effectively eliminate the risks of doing business online.

“B2B e-commerce is poised to explode, expanding to $6.7 trillion by 2020*. However, B2B companies moving online are currently strangled by their reliance on consumer payment methods, like credit cards and PayPal, which carry high costs, chargeback risks, and transaction limits,” said Scott Reynolds, CEO of Armor Payments. “For high value or unsecured online transactions, Armor Payments escrow is the best method for businesses to pay and get paid.”

Armor Payments Escrow as a Service offers a complete escrow payment solution for easy integration into a wide range of third party applications. As a licensed escrow provider through its wholly owned subsidiary Armor Escrow Inc. (California license #9635661), Armor Payments takes on the regulatory burden, the money movement complexities, and the dispute management, allowing partners to focus on serving their payers and payees. With a RESTful API and available software development kits (SDKs), Armor Payments offers a range of simple integration options to partners and developers.

“The Armor Payments API allowed us to easily and seamlessly integrate Armor’s secure payment service right into the transaction flow on our site,” said John Ballantine, CEO of Toadlane, an online B2B marketplace for wholesale secondary electronics. “With their flexible platform, we are able to focus on creating a great customer experience for our buyers and suppliers while leaving the payment complexities to Armor.”

Armor Payments is currently offered through a variety of B2B goods and services marketplaces, crowdfunding sites, and other innovative B2B applications.

About Armor Payments

Armor Payments is a B2B payments provider, offering the first Escrow as a Service (EaaS) payment solution. EaaS enables 3rd party applications to easily integrate via a simple API and offer secure, cost-effective online escrow payments between their payers and payees. With its licensed escrow service, Armor Payments takes on the regulatory burden, the money movement complexities, and the dispute management headaches. Founded by ex-PayPal and MasterCard execs, Armor Payments is expanding B2B e-commerce worldwide. Visit http://www.armorpayments.com for more information.

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Scott Reynolds
@ArmrPmts
since: 08/2013
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