It’s that time of the year where we all look forward to getting amazing gifts and presents for family and loved ones. Holiday seasons usually see a flurry of shopping activity but we should be extra careful of all our online shopping, especially when buying items from online marketplaces and e-commerce websites.

During this season, a lot of people fall victims to some of these fraudulent acts:

  • Replica/fake items
  • Phony Classified Ad Listings
  • Cloned websites
  • Sham Order Confirmations etc.

With the tons of digital marketplaces everywhere on the internet, it’s hard to identify genuine merchants whose intentions are to sell goods and sell original ones at that. In disguise, we have fraudsters just lurking around the corner waiting to defraud customers.  

As an e-commerce merchant, it’s safer to have a digital escrow account to ensure your safety and also that of your customers. And as a customer even when a merchant you want to purchase from does not offer that option, you can still protect the transaction using digital escrow.

What is Digital Escrow?

Digital escrow is simply the concept of escrow enhanced by the use of technology. Just like traditional escrow solutions offered by banks and other financial institutions, digital escrow aims to create safe spaces online where people can trade knowing their funds and goods are safe until both parties are satisfied in a transaction. When you use PayLock we verify the funds sent by the buyer and keep them in our secure escrow account for the seller.

Two women shopping online. www.paylock.io

Using PayLock to buy and sell goods online is the most convenient way to complete transactions on the internet today. The best Christmas gift to give yourself this season is letting us act as your personal tool to ensure a safe, secure and intuitive sale whether you’re a buyer or seller. We support debit/credit cards and mobile money for buyers and sellers all over Africa.

Sign up today to begin protecting your transactions.

Credit: Onyekachi Ekeh