Thenumber of online financial transactions has largely increased in Nigeria. Since 2001 up until 2008, there has been up till 90 percent increase in internet usage and penetration in Nigeria. With this increase in penetration of online transactions comes the acceptance of ecommerce as a way of buying and selling. This increase in online transactions and emergence of ecommerce has brought with it the attendant problem of trust. Fraudulent practices abound. Both the buyers and sellers constantly worry about their security as they transact with one another. This has started impacting badly on the Nigerian e-commerce space with people often Opting to buy in open shops rather than purchasing online.This was what led the e-commerce giant (Jumia) to introduce the pay on delivery option to give the customer a sense of security. They have since stopped this policy.
My solution bothers on third party payment. It implies the use of Escrow Services to gurantee the safety of both buyers and sellers in the Nigeria E-commerce space. We serve as the middle men between parties to a transaction to make sure the buyers get what was bought and as specified and for sellers not to get swindled in payment. This is what our unique solution delivers.
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