Russian Service Aims to Secure Online Transactions
Avito Services is testing a new model that holds payments in escrow until services are delivered, reducing risks for both buyers and providers.
Russian digital platform Avito is testing a secure transaction feature for its services marketplace, the company’s press office said. The new system changes how orders and payments are handled between customers and providers. All terms are agreed in advance, and payment is released only after the service is completed, while funds remain reserved on the platform in the meantime.
Virtual Business
The system protects customers from incomplete or low-quality services, while shielding providers from last-minute changes to agreed terms. A similar escrow model is already used in shared-equity construction, where funds are released only after property handover.
For now, the service is being rolled out in the business services segment. In case of disputes, users can involve an independent arbitrator. Pilot testing showed that such mechanisms reduce risks and improve transparency.
According to the Central Bank of Russia, 92 percent of corporate financial transactions are conducted through online channels.
