Nigerian fintech startup PaySureFy has entered the digital commerce market with the launch of an AI-powered escrow platform designed to improve trust between online buyers and sellers while reducing the risk of fraud.
Founded by Nigerian technology entrepreneur Mgbeoji Austin, PaySureFy said its platform provides a trust infrastructure that supports safer online transactions for individuals, businesses, freelancers, marketplaces and Nigerians in the diaspora.
The platform integrates escrow-protected transactions, identity verification, fraud intelligence, dispute resolution, milestone payments and transaction evidence tools to help users minimise risks associated with digital commerce.
The launch comes as more Nigerians use social media platforms such as Instagram, WhatsApp, Facebook and TikTok to buy and sell goods and services, increasing opportunities for online trade while exposing users to fake vendors, impersonation and payment disputes.
Speaking on the launch, Austin said the company was established to solve the trust issues affecting online transactions.
“Many people want to buy and sell online, but fear keeps getting in the way,” he said.
“Buyers are afraid of fake vendors, while honest sellers worry about fake payment alerts, unserious buyers and false claims.”
Unlike conventional payment platforms, PaySureFy said it does not operate as a custodial wallet or hold customer funds.
Instead, the company explained that regulated banking and payment partners manage fund movement and settlement, while PaySureFy provides the transaction workflow, authorisation process, fraud monitoring and dispute resolution framework.
“PaySureFy is not a custodial wallet. We do not position ourselves as a bank,” Austin said.
He added that the company’s role is to provide the trust infrastructure that determines whether a transaction should proceed, pause, be released or undergo further review.
The platform offers individual, business and enterprise accounts, enabling users ranging from freelancers and online merchants to large organisations to manage transactions through different approval structures.
PaySureFy also said its AI-powered fraud intelligence system can detect suspicious transaction patterns, identity mismatches and other potential risks before payments are completed.
To improve accessibility across Africa, the platform supports multiple languages, including Yoruba, Igbo, Hausa, Twi, Swahili, French, Mandarin and Spanish.
Austin said the company’s vision extends beyond payment processing to building confidence in digital commerce.
“At first, the issue was how to make payments safer. But the bigger question became whether money should move in the first place. Before money moves, the people, transaction, risk and conditions should be trusted,” he said.
According to the company, development of the platform began in 2020 during the COVID-19 pandemic, when remote commerce and online transactions became more widespread.
The product later evolved into the PaySureFy brand in 2023.
Beyond online shopping, the platform is expected to support freelance services, contractor payments, procurement, property transactions and diaspora-funded projects through features such as milestone payments, partial fund releases and structured dispute resolution.
PaySureFy said its website, mobile web and desktop browser platforms are now available, while Android access is being rolled out through its website. The company added that app store availability is expected at a later date.
Austin said the company’s long-term goal is to strengthen confidence in online transactions by making trust a core part of digital commerce.
“A buyer should not lose money before learning caution. An honest seller should not lose business because the market is full of suspicion,” he said.
