LipaSafe is a platform that allows sellers and buyers to make successful transactions by reducing chances of online fraud. The system is designed to guarantee a buyer the value of his or her money since payments are completed only after delivery. The escrow service holds money on behalf of the sellers and buyers hence building trust in online transactions.
Cybatar Innovations Limited which is a registered IT company in Kenya developed the platform. The main people who contributed to ensure the platform works include Kenvis Kirocho, Phiwa Nkambule, Lawrence Keru, Nahashon Minjire and Kenneth Nderitu. The founders came up with the idea after encountering some online transaction problems.
Kirocho said that despite the popularity of online transaction, some people act dishonestly. While many traders act honestly and desire to complete transactions, other problems may arise. In some cases, a buyer may not quality services or products ordered for hence causing dissatisfaction on one party. Moreover, one may receive damaged goods which had been paid for. In some cases, a seller may deliver goods yet the buyer refuses to pay. Furthermore, some sellers may deliver goods of low quality contrary to what was advertised. In all these scenarios, one party feels dissatisfied. Therefore, LipaSafe came in to bridge the existing gap.
LipaSafe platform secures online transactions by allowing one to get refunds if goods delivered were not as per the initial agreement. Besides, the platform provides offline security for transactions.
Currently, LipaSafe targets to market their services to academic writers, IT experts, engineers and other businesses that provide services to customers. Kirocho also explained that the platform can withhold money for service providers who request for advance payments before completing the work. In such cases, some clients fear that the service providers may make away with their money.
The users will use Safaricom’s M-Pesa platform to upload money and make withdrawals. Moreover, the users will be required to upload other documents that can be used to solve any issue in case of any dispute.