TulipTools Internet Business Owners and Online Sellers Community

Quote: PropertyRoom.com, the online auction site for legally recovered property in which some 700 municipal law enforcement departments participate, is extending its security umbrella to third-party online sellers as well. After opening its platform beyond police departments to other third-party merchants last year, it will now accept payments for completed auctions on behalf of all merchant sellers listing on the site.

The new payment option resembles a traditional escrow service. For sellers, PropertyRoom.com will hold payments and verify buyers’ identities and payment method. Buyers, meanwhile, are assured that payments are not released to merchants until their items arrive as ordered. PropertyRoom.com built the tools and technology supporting the system itself, using encryption from VeriSign...