CASHBOX provides a virtual escrow service that locks a buyer’s payment in a secure digital safe until the transaction is confirmed, protecting peer‑to‑peer trades on online marketplaces and in‑person deals. Using Stripe’s payment infrastructure, the platform automatically releases funds after a 24‑hour verification window for online sales or a one‑hour window for face‑to‑face exchanges, offering real‑time status tracking and a 4 % service fee.
Funding
Funding not disclosed
Founders
Product
Problem
Buyers and sellers on online marketplaces often lack a trusted mechanism to hold funds during transactions, leading to scams where money is sent directly to a fraudulent party with no recourse. Traditional payment methods provide little protection for peer-to-peer trades, especially when parties are unfamiliar.
Solution
CASHBOX offers a virtual escrow service that locks the buyer’s payment in a secure digital safe until the transaction is confirmed. For online sales, the full purchase amount is deposited into the CASHBOX hold and released to the seller after a 24‑hour verification window; for face‑to‑face deals, a refundable deposit is held and the remaining balance is released one hour after the buyer confirms receipt. The platform uses Stripe’s payment infrastructure to secure transactions and automatically manages fund release based on predefined timeframes and mutual agreement, reducing the risk of fraud and providing clear status tracking for both parties.
Target Audience
Primary users are individual buyers and sellers on peer‑to‑peer marketplaces, small business owners, and freelancers who need secure payment handling for online or face‑to‑face transactions.
Features
- Virtual escrow “CASHBOX hold” that secures the full payment until buyer confirmation
- Automatic release schedule: 24 hours for online trades, 1 hour for in‑person exchanges
- Real‑time transaction status view via “My Transactions” dashboard
- Integrated with Stripe for PCI‑compliant payment processing and fraud protection
- Service fee of 4 % plus a transaction fee, charged to the buyer
- Ability to cancel a transaction by mutual agreement, with deposit returned after fee adjustment