Payconfidence Limited, a Nigeria-based payment solution company has launched its App to provide a payment intermediary service between sellers and buyers seamlessly.
According to the company, the online and offline payment solution is accessible via mobile, web, and Unstructured supplementary service (USSD) code.
To fill the trust gap between the buyer and the seller of the product/service in an online or Non-face-to-face transaction. Austin Onwughai, founder and CEO of Payconfidence limited stated during the launch that the app is basically providing a solution in regard to the problem of trust in society.
“We created an avenue through which individuals can carry out their business transaction without fear, through the use of our product.”
“The app is not platform dependent, for example, you don’t have to be on Jumia, Konga, and others to carry out transactions, rather the platform is accessible to anyone who buys and sells various products/services.”
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He said, the app does not list products and services but only provides confidence for monetary exchange, irrespective of the platform where the buyers and sellers meet.
The company disclosed that before the seller can dispatch its goods/services, the platform guarantees that money is paid by the buyer, and the goods/services are received by the buyer before payment is remitted to the seller.
However, Payconfidence does this by holding the buyer’s money temporarily in a central bank of Nigeria (CBN) licensed third-party account (Squad by GTCO) until the cycle is completed.
The buyer can choose to cancel the order after being received if what was ordered wasn’t what was delivered by clicking on the dispute button depending on the time lag available for that transaction.
Once the refund has been approved, the customer will be required to fill in their account details on the platform, then the app instantly refunds the buyer’s money with zero charges, the company said.
Onwughai stated that our main clients are the merchants registered and actively using the platform and not the customers.
“The merchants are the ones who can register before using the app, by filling in the necessary information required by them, while the customers make use of the code available to them to carry out their transactions.
Emmanuel Chukwu, head of communication at Payconfidence said with our platform the trust gap between buyers and sellers has been eradicated.
