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AtaraPay redefines e-commerce space through escrow

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AtaraPay redefines e-commerce space through escrow

By Agbonkhese Oboh

AtaraPay, an online escrow service has reiterated its commitment toward redefining and enhancing cash on delivery service in Nigeria in a way that promotes trust, transparency and protects the interest of both parties.

The Executive Director of TrustPay Technologies Limited, Yemi Adebiyi, made this known in a statement in Lagos, where he said the emergence of e-commerce in Nigeria has changed the way Nigerians buy and sell goods.

He said that although bias and skepticism against online shopping persist, over time more consumers have begun to embrace the concept of purchasing items online and getting them delivered at their doorstep.

He said: “The advent of the COVID-19 pandemic has also made it imperative for sellers to diversify their sales channel to include an online, omnichannel strategy.”

He noted that, however, over time increased cases of internet fraud, frequent internet payment transaction failures only served to worsen the perception of customers paying online without physically inspecting the goods.

Adebiyi pointed out that as a workaround, cash-on-delivery options quickly became a popular choice with customers who preferred to double-check items in hand before paying in cash.

This served as an approach to address the trust deficit and guarantee quality assurance.

He said that the introduction of escrow service by African start-ups such as AtaraPay,  Paylock, Truzo has come in handy in addressing the issue of trust between buyers and sellers in a way that promotes transparency and protects the interest of both parties.

Adebiyi explained that AtaraPay’s business relationship with Consolidated Hallmark Insurance Plc enables it to provide a service that can be trusted and reliable enough to take away the monetary bottlenecks and resolve every crisis during transactions.

“This is a safe way to strike an equilibrium between customer and merchant credibility while eliminating fraud in the process,” he added.

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