Escrow Account
Novalnet manages all merchant funds via fiduciary/escrow accounts that are protected against insolvency. The disbursements are made to individual merchants directly from the insolvency-proof escrow account.
Novalnet manages all merchant funds via fiduciary/escrow accounts that are protected against insolvency. The disbursements are made to individual merchants directly from the insolvency-proof escrow account.
Novalnet can also open escrow accounts for resellers, partners, or affiliates of a merchant. Through our integrated affiliate management solutions, merchants’ partners can also benefit from the escrow account management.
Your money is safe
Novalnet is subject to the strict regulatory requirements of the German Federal Financial Supervisory Authority (BaFin) and the German Bundesbank (DBB). This means that Novalnet must comply with numerous regulations, compliance which are verified and documented by BaFin, DBB and auditors. Novalnet’s risk management and control mechanisms along with its data processing systems ensure adherence to the requirements of the Money Laundering Act (AMLA) and Regulation (EC) No. 1781/2006.
All funds are processed via escrow accounts during every payment process. This ensures that the funds are 100% secure and also protected against insolvency. The settlement via an escrow account maintains the risk of non-payment by Novalnet at zero.
