Propy Now Accepts Digital Earnest Money Transfers − Eliminating Paper Checks or Wire Fraud Concerns
Propy, the premier Offer and Transaction platform, can now accept digital earnest money transfers directly through its platform, eliminating the need for multiple solutions and the stress caused by potential wire fraud and identity theft with personal checks.
Real estate and escrow agents and their clients will now have a secure and fast way to transfer deposits on the same platform that they’ve used to upload all of their other transaction documentation and information. While there are other digital payment solutions available, clients have to download and sign-up for them separately.
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“Only Propy provides a complete end-to-end and secure digital solution,” says Natalia Karayaneva, CEO. “Now, everyone involved in each phase of the real estate transaction can interact on a central platform − adding an extra level of security,” she adds.
Propy, which is developed using blockchain technology, already integrates additional safeguards by providing a blockchain address and certificate with every closed transaction. The integration of digital payments adds even greater protection to the home purchase process and brings the industry closer to the fully automated settlement on blockchain.
The company uses bank-level security and secure integrations to manage earnest-money transfers. No bank data is stored on the platform and multiple verifications are required before the transfer occurs. Once the transfer is completed, everyone involved in the process is automatically notified and the payment can be tracked with 100% accuracy.
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