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Accruit Finalizes Purchase of PaySAFE Escrow

Accruit has acquired PaySAFE Escrow and its PaySAFE® web-based transactional technology that allows buyers and sellers to safely complete online purchases.

Accruit, LLC, a financial technology company specializing in escrow and 1031 exchange services, has acquired PaySAFE An escrow agreement provides for the placement of money or other assets in the control of an independent third party in order to protect the parties involved in a transaction. The funds or assets are held by the escrow agent until it receives the appropriate instructions or until predetermined contractual obligations contained in the escrow agreement have been fulfilled. Escrow , including its PaySAFE® web-based transactional technology that allows buyers and sellers to safely complete online purchases. PaySAFE’s settlement service partners with auction houses, online marketplaces and classified websites to ensure that customer transactions are securely settled.

According to Accruit President and COO Karen Kemerling, the acquisition of PaySAFE’s technology aligns with Accruit’s goal of expanding its financial technology services. “The evolution of our FinTech product strategy parallels the demand from customers for online services. PaySAFE’s diverse digital partnerships and online services enable us to meet this demand.”

Matthew Medlock, PaySAFE An escrow agreement provides for the placement of money or other assets in the control of an independent third party in order to protect the parties involved in a transaction. The funds or assets are held by the escrow agent until it receives the appropriate instructions or until predetermined contractual obligations contained in the escrow agreement have been fulfilled. Escrow ’s former president and founder, joins Accruit as a vice president of business development and will work closely with Accruit CEO, Brent Abrahm, to lead the growth of the online escrow platform.

“The acquisition by Accruit supports PaySAFE’s goals to expand reach and deepen the functionality of the platform,” said Medlock. “Accruit has outlined further development which includes evolving the PaySAFE® user interface, developing mobile applications and enhancing API functionality for integration with additional online marketplaces.”

Learn more about PaySAFE®.