Purse.io Launches Bitcoin Escrow Service for Pre-orders

Purse.io, popular bitcoin marketplace and escrow service, has launched a new payment option called Purse Pre, which allows customers to pay in bitcoin for popular pre-order items.

According to the official Purse.io blog, purchases made on Purse Pre are locked into an escrow account until the customer receives the item. Consumers will also be given the option of retrieving their bitcoin by canceling their order. Pre-order merchandise can be a great source of frustration for many consumers due to a variety of unforeseen factors that can negatively impact advertised delivery dates.

The Purse.io blog states:

“Too often pre-orders are plagued by shipping delays, technical problems or outright failures. Sometimes these problems can be corrected, but often they result in lawsuits.”

For example, the recent 2-month shipping delay experienced by consumers who pre-ordered the Oculus Rift virtual reality headset, is a stern reminder of what can go wrong with these types of transactions, “One U.S. customer who pre-ordered the Oculus Rift 33 minutes after pre-orders became available back on January 6th has an estimated shipping date between May 23rd and June 2nd, roughly two months from the headset’s launch date.” wrote Ben Lang of RoadToVr.

The release also states that bitcoin-paying consumers using the Purse Pre service will be able to view the status of all their orders from one portal:

“Tracking the status of these orders across multiple sites was a major headache, but no longer. Thanks to Purse Pre, you’ll be able to track the production status of your pre-orders in the same place.”

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