When it comes to transactions between buyer and seller, both sides try to protect their end from fraudulent experiences because there's no system out there to protect both of them at the same time.

Many times sellers lose businesses when buyer prefers pay on delivery, especially when the buyer is outside of sellers geographical location -it is huge risk to ship from one city to another with hope that it won't become an abandoned order. So most sellers turn down these customers because of the huge risk, he also misses a huge market outside sellers location that he would have otherwise tapped into. Buyer also has genuine reasons to protect themselves.

Almost every buyer these days have had a fraudulent experience or have read about or even have friends who have been defrauded from a seller; either by low quality knock off items, poor service delivery or outright money scam. These issues are real till date and is the basis for lack of trust in most ecommerce business today, it one of the key factors stifling the growth of this sector. We can go on and on and name several scenarios, experiences and losses that buyers and sellers have both gone through, which is why both resort to their preferred payment mode.

Seller prefers upfront payment which gives him the advantage of receiving funds first before delivering an order. Buyer is disadvantaged here as he/she has nothing to protect her, if anything goes wrong.

Buyer rather prefers pay on delivery, which means making an order without any form of commitment, which puts seller's business at risk.

Imagine staying in traffic as seller, burning fuel and going all the distance or even outside the state to deliver an item and buyer refuses to pick calls, show up or blatantly says he/she was just testing and had changed her mind.

Thankfully, this has finally been solved with an escrow solution called PayScrow on www.payscrow.net

PayScrow protects both sides from such scenarios by ensuring both parties are committed to any trade they agree on. Thus, filtering out unserious/fraudulent buyers and sellers and providing safety and comfort for businesses.

PayScrow helps provides a fair middle-ground for both sides, while protecting them. Buyer shows commitment to his purchase by paying to PayScrow, his funds are secured with PayScrow via thier partner bank (CBN licensed deposit money bank) and the seller is immediately notified of this payment and asked to deliver the item.

That way, he can ship with 100% assurance that buyer is serious and won't abandon order, once buyer confirms delivery of his item, seller gets paid, otherwise money is refunded if item was not delivered or wrong spec was delivered. No chasing one another, no calling back and forth, no 5 working days, just hassle-free transaction. This is what is widely known as Escrow and is needed in this clime to curb fraudulent experiences buyers and sellers face.

PayScrow works for transactions both on online shopping website and on social channels. Online website owners can integrate PayScrow to their checkout pages as a payment option and it immediately becomes active for their customers.

For those who sell on social channels like Instagram, WhatsApp, Facebook or here on Nairaland, you only need to send a payment invite to your customers email address to get that payment commitment from them and you will be notified once payment is made. But please note you will only be paid after buyer have confirmed delivery, PayScrow is intelligent enough to know proof of delivery, so no room for sharp practices.

With this system in place you can do business with anyone, anywhere - from Lagos to Kaduna, Sokoto to Calabar, Anambra to Kano even if you don't know them. In the 21st century, your competition is global, so your customers shouldn't be local and restricted to only people around you because of mode of payment. Take the limits of your business and reach more markets with a payment solution that protects both your business and your customers. There's no reason to turn down such transactions anymore, just PayScrow it.

Get started on www.payscrow.net, you can test and see for yourself. E.g you can register your business as merchant and yourself as customer and try out a payment to see how it will serve you as a buyer or seller. Your feedback will be highly appreciated to help us tailor this to your specific business if you have specific needs. Feel free to shoot an email from our contact page. Pay smarter, trade better.

www.payscrow.net

Thanks for the useful info! I'm a big fan of online shopping and often order some stuff online. I just want to add that it's always necessary to check the address and postal code you enter, to avoid any delivery issues. Personally I always check postal code through site https://worldpostalcode.com/nigeria/ to reduce mistakes.It's the easiest way.

Yeah, after payment and trust issues, address/delivery issue is the next big challenge the e-commerce space faces. The link you shared will be quite useful for many. I'd like to ask out of curiosity though, does postcode work in Naija and do people even know and use it? It will be interesting to know what people think...