Afternic is speeding up the payout process. In what is a breath of fresh news for domain sellers, Afternic will now be paying faster.
James Iles wrote a post on Afternic’s blog explaining the changes:
Here is a simplified version of what a typical transaction at Afternic will look like now:
- Buyer submits their payment for the domain name
- Afternic retrieves the payment and approves the funds
- Seller transfers the domain to Afternic following communication from the Transaction Assurance department
- Funds are disbursed to the domain’s seller
- Afternic transfers the domain name to the buyer
Adjusting our payout process means that we can expedite payout times for domain name sellers. While each transaction is unique, we hope to see the average payout time to sellers reduce by up to 50%.
Read the full post on Afternic.com including a helpful chart which shows which transactions will not be affected by this new change.
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