AtaraPay redefines the e-commerce space through escrow News


By Agbonkhese Oboh

AtaraPay, an online deposit service has reiterated its commitment to redefine and improve the cash on delivery service in Nigeria in a way that promotes trust, transparency and protects the interest of both parties.

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

He said that while prejudice and skepticism against online shopping persists, over time more consumers have begun to embrace the concept of buying items online and having them delivered to their doorstep.

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

However, he noted that over time, the increase in Internet fraud cases, frequent failures in Internet payment transactions only served to worsen the perception of customers paying online without physically inspecting products.

As an alternative solution, Adebiyi noted, cash on delivery options quickly became a popular option among customers who preferred to double-check available items before paying in cash.

This served as an approach to address the confidence deficit and ensure quality assurance.

He said that the introduction of escrow service by African startups like AtaraPay, Paylock, Truzo has been helpful 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 reliable service and reliable enough to eliminate monetary bottlenecks and resolve every crisis during transactions.

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

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