How Peppa Is Using Escrow As A Service To Bolster Secure Payments On Social Media
LAGOS, NIGERIA, November 22, 2023 /EINPresswire.com/ — Peppa, a social commerce platform, has introduced Escrow as a Service to enhance the safety of peer-to-peer transactions for Africans, particularly Nigerians. This innovative tool aims to eliminate potential fraud and provide a secure environment for buying and selling on social media platforms.
As a third-party intermediary, Peppa acts as a trusted bridge between buyers and sellers, ensuring a commitment to both parties. Through Escrow as a Service, Peppa holds and collects payments from buyers, releasing them to sellers only when buyers are satisfied or on agreed-upon terms.
The introduction of Escrow as a Service by Peppa comes at a crucial time when customers are losing confidence in Payment on Delivery (PoD) methods. By implementing Escrow as a Service, Peppa aims to restore customer confidence in social commerce and create a secure environment for transactions on social media platforms.
How Much Power Do Customers Have with Peppa’s Escrow as A Service?
Traditionally, when buyers opt for payment on delivery (PoD), they can accept or reject the product upon delivery. Peppa recognizes the importance of this power for customers and ensures that it is maintained while also acknowledging that customers have already made a partial payment for their products.
As a trusted third party, Peppa holds the payment until the delivery is completed, providing a sense of relief to buyers. This instills trust in the online vendor and reduces the likelihood of return rates for sellers as long as there are no breaches of agreements.
Trust is a crucial value that African businesses must earn from their customers. Peppa understands this and is committed to bolstering secure payments on social media platforms. By building a robust payment gateway and marketplace, Peppa aims to ensure customer satisfaction and establish long-term relationships between buyers and online vendors.
One customer, Mark, shared his experience of being hesitant to purchase products on social media platforms after a disappointing encounter with an online vendor on Instagram. The seller not only delivered the product three weeks later than expected but also sent the wrong size and design. Efforts to return the item were unsuccessful as the seller did not have a store address.
However, with the introduction of Peppa’s Escrow as a Service, Mark’s trust has been rejuvenated. He now feels confident in making purchases on social media, especially on the Peppa marketplace, knowing that his orders will be fulfilled to satisfaction.
Peppa’s Escrow as a Service is revolutionizing the online shopping experience, providing customers with a secure and reliable platform to make purchases. With the power to accept or reject products upon delivery and the assurance of a trusted third-party holding payments, customers can shop with confidence.
How To Use Escrow As A Service On Peppa:
• Create a Peppa account
• Create a store or connect to your online store
• Access and use the EASE API documentation to use escrow service on Peppa
What Are The Key Benefits of Escrow As A Service On Peppa?
SECURE PAYMENTS FOR BOTH SELLERS AND BUYERS
Peppa’s Escrow as a Service offers a range of key benefits for both buyers and sellers. One of the primary advantages is secure payments for both parties involved in the transaction. Peppa holds buyers’ payments until all transaction requirements are satisfactorily met, ensuring fairness and mutual satisfaction. Sellers using Peppa can trust that the money is securely held before delivering products to buyers.
REDUCTION OF TRANSACTIONAL RISK
In addition to secure payments, Peppa’s escrow service also reduces transactional risk. By acting as a trusted intermediary, Peppa minimizes the chances of fraudulent activities and provides an extra layer of protection for both buyers and sellers.
Peppa’s escrow service offers a unique opportunity for buyers and sellers to maximize their gains while minimizing risks. With this service, buyers can be assured of satisfaction with their purchases, while sellers can build trust and credibility in their business.
It is worth mentioning that Peppa welcomes buyers and sellers from social media platforms who are interested in accessing its escrow service to establish a sustainable trade.
You can download the Peppa app on Google Play Store or Apple Store to get started.
Frequently Asked Questions (FAQs)
Q: Is Escrow Payment Secure?
A: Yes, Escrow is the world’s most secure payment method. It acts as an intermediary between buyers and sellers, guaranteeing the safety of funds. With Peppa’s Escrow as a Service, buyers can confidently make purchases on social media platforms, knowing that their money is protected from scammers or fraudulent buyers. Funds are locked in the escrow account until the purchase terms are completed, ensuring a secure transaction.
Q: How Do To Receive Money From Escrow?
A: Once the purchase agreement between the seller and buyer is completed, the seller can receive money from the escrow account through bank transfer or wire transfer, depending on the options provided by the escrow company. The escrow company owns the account, and funds are released upon the buyer’s approval. In cases where a buyer requests a refund and returns the product, the buyer will only receive the refunds after the seller has verified the product’s condition upon initial delivery. This means that the escrow works for both buyers and sellers.
Q: What Is The Best Escrow Platform In Nigeria?
A: Peppa is the best escrow platform in Nigeria, trusted by numerous users who interact with the system daily. Not only does Peppa offer a secure and reliable escrow service, but its transfer charges (fees) are also comparatively lower than other escrow companies in the market. With Peppa, buyers and sellers can have peace of mind during their transactions, knowing that their funds are protected, and their purchases are guaranteed.
Introducing the Peppa App for Secured Payments on Social Media Platforms