Quick meaning
A neutral third party that holds payment until both buyer and seller fulfil the terms of a transaction.
Think of it like this
Like a trusted middleman who holds the money until everyone is happy.
Where you may see this
You may see this in banking apps, checkout screens, delivery updates, and digital payment instructions.
Why it matters
Knowing the term helps you pay safely, understand what a screen is asking for, and avoid costly mistakes.
Say it simply
Escrow means: A neutral third party that holds payment until both buyer and seller fulfil the terms of a transaction.