Digital payments company Escrowpay, which is based in Gurugram, has confirmed its strategic alliance with integrated mortgage and real estate player Square Yards. The latter will integrate the specialized escrow payment platform within its Square Connect App for enabling thousands of channel partners and brokers to use it smoothly on the same. The initial strategic alliance will cover usage of the Escrowpay platform for the Square Connect app for property transactions in the resale category. In the near future, both companies will be exploring various other ways of tapping the ecosystem for real estate transactions.
The chief executive officer and founder at Escrowpay, Ashwin Chawwla, stated that channel partners are the driving forces for real estate transactions and they will now be empowered with the proprietary technology offered by the company through embedding the same into Square Connect, the market-leading digital platform. He added that real estate has gone phygital in the current scenario where transaction completion is majorly dependent on brokers and channel partners. If they are empowered with suitable technologies, then transaction closures happen faster and more successfully in the bargain.
Chief financial officer and co-founder at Square Yards, Piyush Bothra, stated that the company is delighted to enter into this strategic alliance with Escrowpay in a scenario where the realty sector is witnessing rapid evolution. With this innovative premise, the company will be able to protect commissions and brokerages of channel partners while ushering greater transparency and trust into property transactions. He also stated that the new strategic alliance, while boosting confidence of consumers, will also help in empowering more than 150,000 channel partners at Square Yards.
Square Connect is a specialty platform for broker aggregation with more than 150,000 registered brokers using the same on a daily basis for secondary listings. The platform also takes care of inventory sharing, demand generation and co-broking opportunities within the network.
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Published Date: 13 July 2020