Imagine you found a seller online for a product you need, but you're hesitant to send money upfront. What if they don’t deliver? This trust issue is a common challenge in online transactions.
Payscrow is an escrow mobile application that serves as an intermediary between two parties by withholding the funds on behalf of the two parties that are in the process of completing a transaction until receiving appropriate instructions or until some predetermined contractual obligations have been fulfilled by the two parties.
People often shy away from having transactions with strangers due to the issue of trust. Many buyers and sellers hesitate to transact with strangers due to fear of fraud. Buyers worry about not receiving their goods or services after payment, while sellers fear not getting paid after delivering.
<aside> 🎯 Goal The goal was to design a platform that bridges the trust gap by serving as a secure intermediary, ensuring both parties fulfill their commitments.
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To create a truly effective escrow platform, we needed to answer key questions: