With so much zeal and interest developing in Nigeria in the area of online retailing of goods,it is obvious that we are in to see exiciting times and innovations in this area.Recently Kaymu– an e-commerce portal that facilitates buying and selling online across Nigeria, offering sellers the opportunity to own a shop online where they can sell more of their items to the growing number of Nigerians , launched a revolutionary payment solution called SafePay™.
In this press statement issued to us, according to the MD, Lukas Zels; “SafePay™ is a necessary evolution in the Nigerian e-Commerce industry as it was introduced to eradicate the nefarious activities of fraudsters online and to instill confidence in both buyers and sellers online.”
The prevailing payment solution within Nigeria’s e-Commerce space is COD –cash on delivery or POD –Payment on delivery. This model works fine for e-Commerce transactions for those within the same state where both sellers and buyers can meet physically to exchange products for cash.
Over time, the challenge has often been with those outside the seller or buyer’s location/state where payment has to be made before product is delivered. With the introduction of SafePay™, buying or selling online from anywhere in Nigeria is now secured; people can now trade with confidence!
How does SafePay™ Work?
SafePay™ is an escrow service provided by Kaymu whereby buyers pay directly to Kaymu for items bought plus the cost of delivery while sellers have to send the item purchased to the buyer before receiving the money from kaymu.
In other words, Kaymu stands as a trusted intermediary between buyers and sellers to ensure that both parties enjoy a secure e-Commerce transaction. If goods bought are not delivered to the buyer or doesn’t meet the expected conditions as displayed online, Kaymu refunds the money paid to the buyer and the seller gets their goods back from the buyer.
Benefits of using SafePay™
- Seller: more buyers will purchase your items if you allow Kaymu SafePay™ You have the guarantee to receive either your money or the item back.
- Buyer: you have the guarantee to receive your item, if not we refund your money+ delivery costs!