Standard Bank’s online escrow service Shepherd meets its end
Standard Bank’s Shepherd, the South African online escrow service, is shutting down, according to a pop-up notice on its website.
The notice reads as follows: “Shepherd is currently in the process of closing down. As a result, we will not be processing any new payments or transactions. We are truly grateful of the support you gave us in the past!”
Shepherd was used as a way to digitise payments when buying goods online, and had partnerships with RAM courier services – the firm retained the money and released it once the buyer confirmed the reception.
Another partner was Gumtree. It was only founded in 2014, and has since been based in Stellenbosch.
No details on the matter have been revealed yet by Standard Bank.
Back in June, another thing shut down… for a while. At that time, its mobile banking app experienced problems.