acquires for $7.5m cash has paid $7.5m in cash to acquire works with e-commerce sites by holding onto payments for services until an exchange has been fully completed. Previously it has counted brands including GoDaddy, AutoTrader, and eBay among its customers.

The acquisition is part of’s effort to make payments between its 15 million users more secure and timely.

“It’s a strong cornerstone for entering the payments space,” said's chief executive Matt Barrie.

Its current escrow service, Milestone Payments, has received multiple complaints from users, mostly regarding its lack of protection and slow timing.

To date, has successfully processed $2.2bn in transactions.

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