Compendious research of Escrow Payment - Focusing on Future Considerations, Trends and Applications

Abstract

The research on escrow payments given its future considerations, trends and applications indicated about it being a payment platform for the future. This can be attributed to be the result of its greater security and flexibility, in addition to the reduction of fraudulent activities. However, the digital payment systems must focus on the introduction of smartphone application, so that the consumers can make payments within a matter of minutes, rather than having them spend their valuable time on their websites to process their payments.