Introducing Paycrow
Paycrow is the answer to the question, “what if no one could ever be defrauded on social media again?”
How did we start?
As a human in the 21st century, it was mind-blowing the amount of stuff anyone could get done from the comfort of their daddy’s house — with the internet. You could earn money, spend money, order stuff, get it delivered, order some more, without leaving the sitting room.
Every time you had a successful transaction, you got ecstatic. But it didn’t take too long before your luck ran out. You had gotten to the part of the internet where what you ordered and what you got delivered were two different things. Vendors would disappear right after you made payment; you would get blocked on social media (or WhatsApp).
You tried withholding the payment until they delivered, but they wouldn’t agree. Who’d blame them? Even sellers fall victim to social commerce fraud, just like buyers. They can’t trust buyers, and buyers definitely don’t trust them.
Social commerce is a subset of eCommerce that involves buying and selling on social media.
So you steered away completely from buying anything online.
You stopped buying things online, but the world never stopped; it continued. It was almost impossible to not use online to buy what you need. Food, gadgets, clothing, shoes, digital courses, etc — you name it—everything was online.
COVID came and social commerce was no longer an option, it was a necessity. With it came the same problems you were faced with earlier. Every minute, there was at least one complaint on Twitter or Instagram about social commerce fraud.
Ola didn’t get what she ordered for, it was completely different (and useless); Tayo got ghosted right after she paid; Tunde fell victim to chargeback fraud; Opeyemi was scammed with fake bank alerts; and so many more. It was a menace.
Because of how important this problem is, Paycrow started.
We thought, “what if there was some kind of middleman to hold both parties to the terms of their agreement?” “Since most of the problems involved loss of money, what if someone helped to keep the cash until both parties were satisfied with the transaction?” “What if you didn’t have to send cuss words and long Twitter threads to get your money back?”
“Escrow” is keeping any item safe from the parties involved until a specific condition has been fulfilled.
Paycrow, simply put, is an escrow solution that offers payment security for social commerce. We exist so that two strangers can buy/sell from each other without worrying about trust. We do this by helping buyers and sellers keep their payment till the transaction is deemed complete by both parties.
With Paycrow, you, as a buyer, can determine if any seller is worth patronising or not. As a seller, you can show your customers that you’re trustworthy and honest.
Paycrow wants you to get that necklace you like or that headset or that piece of food without fear of being scammed or ghosted. We can make the world a slightly better place if we fix social commerce.
We are releasing our beta version in less than a month.
Join our waitlist here: www.paycrow.io.
