Here is the situation. The work to be done involves creation of a website (freelancing type, but with different work).
We are evaluating the possible ways for securing payment for both clients and workers (both with respect to the website).
First option we thought of is, using paytm wallet, like Uber does. Client X needs to have y amount of cash in the wallet to hire some-one and payment is made using that paytm wallet to the worker's paytm or paypal. Question is, is paytm wallet available in all countries ?
Second option is using paypal in the same fashion (not sure if paypal supports this). That is the question.
Third is using an escrow account and keeping the money there during the work, and to be released after the work is done.
Thing is we are just starting up and setting up an escrow isn't a viable option at present.
Is there any alternative way of achieving this and what are pros and cons of the above mentioned methods ?
Are there proper php api(s) available for performing the above mentioned tasks ?
Yes,
For example, Transpact.com (one of the major escrow companies) offers a very easy to integrate API which uses just one line of PHP - a standard web-service call.
Remember, holding payment is (rightly) highly regulated by nearly all Governments, so you will want to use a secure and established escrow service.
If you wish to do this yourself, think thousands of line of code, and constant legal and regulatory expense.