3 reasons why online marketplaces should embrace Escrow

Online marketplaces like Fiverr, Jiji, Jumia, and Konga along with social channels like Facebook, Instagram and WhatsApp have made digital commerce a lot easier for buyers and sellers in Africa. However, one friction point that still exists is in the payment processes across these platforms. Typically, most marketplaces allow sellers and service providers list their products and services, while the exchange of money, goods or services takes place offline. For goods based transactions, buyers and Read more…

New to Instagram commerce? Here’s what you need to know

Instagram is one of the most popular social networks in the world, especially among youths. As of July 2019, there are 5.6M Instagram users in Nigeria, most of which are are aged 18-44 and 80% of all Instagram accounts follow a business profile. Furthermore, 60% of Instagram users find new products through this platform, and 75% users take an action after viewing a post – either they visit the brand’s website or send a DM Read more…

Are you a Freelancer? Here’s how to ensure that clients always pay for your services

Does this sound familiar? You spend your time and money to meet a client at a bar, discuss their project, slave away to meet their deadline, only for them to “ghost” you when it’s time to pay!. You’ve sent invoices, texted, called, emailed and even threatened to take down the project – yet, nothing. You get tired of chasing and you decided to leave them to fate For a long time, freelancers – software developers, Read more…

How to buy or sell with Escrow in Nigeria

How to buy or sell with Escrow in Nigeria Let me guess; you saw an item online that you really like. You’re ready to purchase it but here comes the skepticism; you’re not sure the item will actually be as described or if it will be delivered at all once you make payment. Once you make the upfront payment, you’re left to continuously hope you’re not disappointed. Or it could be the case that you Read more…

Building a trust-centred marketplace

Online marketplaces seem to be all the rave right now. Essentially, a good marketplace gives buyers a range of choices in what they would like to buy, as well as giving sellers a variety of people to sell to. Entrepreneurs and freelancers in Nigeria have been able to circumvent the pitiless formal labor markets and gain a revenue opportunity through the gig economy by marketing their goods and services on online classifieds and listing marketplace Read more…

How can an Escrow service help your hustle?

Vesicash is all about helping your business grow. Our flagship product, Vesicash Escrow is a unique system that is solving a big pain point for business owners and entrepreneurs in Nigeria. You might be wondering what value using an escrow system could bring to your business, (or what Escrow actually means?)Well, wonder not, instead check out what some Vesicash users have to say about how using the Vesicash Escrow system takes away the headaches that Read more…

What is Escrow and how does it work?

Escrow transactions are financial arrangements where a trusted third party holds and regulates payment of the funds required for two or more parties involved in that transaction. Escrow ensures that transactions are carried out according to the agreed terms and conditions. Vesicash Escrow makes transactions more secure by keeping the payment in a secure escrow account, from which it is released only when all of the terms of the agreement have been met as stated. Read more…

Guest Post: How Vesicash is changing the face of online and marketplace transactions in Nigeria

In a country with a growing rate of access to the internet, Nigeria boasts of at least 10 new businesses springing up everyday online. By this I mean, not physical shops, just businesses that exist purely on social media platforms like Instagram, Facebook and Twitter. Some even go the extra mile to develop and operate custom e-commerce websites. These new businesses and already existing businesses face a certain challenge in selling their goods and services Read more…

Partnership Announcement

This week, we’re excited to announce our strategic partnership with Zenith Bank PLC. Through their payment gateway, GlobalPay, Vesicash users will be able to fund their escrow transactions with their Nigerian or foreign Debit or credit cards seamlessly. Why Zenith Bank? Zenith Bank PLC, a financial institution recognized for innovation and superior performance, is headquartered in Nigeria, with subsidiaries in Ghana, Sierra Leone, Gambia, representative offices in South Africa. Zenith Bank’s expansive presence across Africa Read more…