Thread: What is Escrow?

What is Escrow?

I have seen many freelancing sites talking about Escrow,but don't know what it is

Is Escrow a Payment gateway like Paypal?

Please guide.

Escrow is third party that tries to reduces the potential risk of fraud. It collects, holds and disburses funds according to buyer and sellers to reduce the chances of not paying.

it is a online payment transaction system.. i think ..