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 sell on Instagram, Facebook, Twitter or on your website, but customers keep asking for Pay on Delivery (PoD). You don’t want to do PoD, because if you do you end up losing out because of unserious buyers who make frivolous orders they never intend on paying for, yet it remains a struggle to convince your customers to pay upfront.
Another possible scenario is that you are a freelancer. You deliver excellent jobs to your clients, yet they become unreachable when it’s time to pay up. Sometimes they don’t pay at all or they don’t make complete payments for the services you have rendered.
Conversely, you could be a project owner who has a tight deadline for a new project but your trusted freelancers are not presently available. So, you need to get a new freelancer, but you’re not sure about their skills and you don’t want to waste time and money hiring the wrong person.
If you fall into any of these categories, then worry no more! One way to lessen that stress is to make all payments securely via Vesicash Escrow. Our payment solution mitigates the risk of fraud by verifying the identity of all parties, holding funds securely and only releasing funds when all sides agree they’re happy.
Our secure escrow technology caters to two types of transactions:
- Milestone Transactions: For service-based transactions. It allows the service provider receive payments after the completion of pre-agreed project milestones.
- One-off: Typically for product-based transactions but also applicable for service-based transactions. Payment is made to the service provider or merchant in full, once the transaction terms are met.
With our escrow service, payment security is guaranteed for all parties involved in a transaction and anyone across Africa can transact with each other in total confidence without the fear of being defrauded.
So how does it work?
The Vesicash Escrow process works in three phases;
- Agreement Phase: Buyer and seller set the terms of the transaction.
- Transaction Phase: The buyer pays and the funds are held securely in our digital escrow.
- Disbursement Phase: The transaction funds are released to the seller when both parties are satisfied.
Visit vesicash.com/register to create an account then follow video below to use the escrow:
How does this help you as a Seller/Freelancer?
Since our secure digital escrow holds the buyer’s money, you no longer need to worry about unserious buyers. You are rest assured that the buyer is actually interested in the item since they have already paid money into escrow. You no longer need to commit your freelancing skills to unreliable project owners.
Sadly, fraudsters exist, especially online and in digital markets. So don’t go down the road of risky cash payments or blind bank transfers. Instead, make sure any payment you make is secure by using Vesicash Escrow to protect your transactions.