The world leader in art market information, Artprice has developed for its infrastructure named Standardized Marketplace enabling auctions a process that would allow integration of Escrow.com and Transpact.com. Escrow and Transpact are the principal main leaders in the market for global online escrows.
The joint development would result in a Euro version that would assist in facilitating the business of the European clients of Artprice. The two companies were able to create online systems that represent, according to Thierry Ehrmann, chairman and founder of Artprice "the future of Internet transactions in the shape of a trusted third party offering escrow and release services.a challenge that no European bank, including the French banks, has been able to handle ..."
He added, "With this new version, Artprice will offer, as of the beginning of May, a simple-to-use payment system in the European currency, with extremely competitive trusted third party escrow rates and a level of security substantially higher than that of the physical art market where payment incidents are not so rare. It will not be long before the numbers force the old economy to recognize that Internet transactions are much more secure than physical economy transactions."
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