Escrowpay Announces Strategic Alliance With Square Yards
The strategic partnership will empower over 150,000 channel partners of Square Yards by providing escrow-based ecosystem for brokers and property buyers
Escrowpay, a Gurugram-based digital payment company, on Monday announced that it has entered into a strategic alliance with Square Yards, an integrated real estate and mortgage platform.
As part of the strategic alliance, escrow payments platform will be integrated within the Square Connect App to help thousands of brokers and channel partners on the Square Yards platform use it seamlessly.
While the initial alliance will be for using the Escrowpay platform on the Square Connect app for resale property transactions, going forward both parties will explore other uses within the real estate transactions ecosystem, the company said in a statement.
Speaking on the alliance, Ashwin Chawwla, founder and chief executive officer of Escrowpay, said, “Channel partners are the backbone of any real estate transaction and we aim to empower them with our proprietary technology by embedding it within a market-leading platform like Square Connect. Real estate today is increasingly phygital in its form and fashion. While discovery could happen on digital platforms, completion of transactions is largely dependent on efficient channel partners and brokers, who, if empowered, with the right technology platform can ensure seamless and successful transaction closures. We are extremely pleased with this association with a forward-looking and tech-first platform like Square Yards. This will not only help brokers successfully close client transactions but also help them protect their brokerage effectively without the fear of losing their hard-earned money.”
Piyush Bothra, co-founder and chief financial officer, Square Yards, said “We are excited to announce our alliance with Escrowpay at a time when the real estate industry is undergoing rapid changes. Through this first-of-its-kind initiative, we would be able to safeguard the brokerage and commission of our channel partners and would also be able to bring in increased trust and transparency in our transactions. Our strategic alliance will not just strengthen the consumers’ confidence but also empower over 150,000 channel partners of Square Yards.”
Square Connect is a broker aggregation platform with 150,000 registered brokers who use it daily for secondary listings, demand generation, inventory sharing, and co-broking opportunities within themselves.