Escrow collection services allow the buyer to deposit funds with an independent third party. The escrow provider holds the payment until the goods are delivered and accepted, then releases the funds to the seller—ensuring fairness and reducing fraud risks.
🇳🇬 Why Escrow Matters in Nigeria
- Trust-building: Especially important in markets where fraud is common.
- Payment protection for sellers: No longer risk delivering without payment assurance.
- Dispute resolution: Legitimate escrow providers mediate disputes and manage refunds or reversals.
🏆 Top Escrow Collection Services in Nigeria
EscrowLock
- Nigeria’s only accredited escrow provider licensed by relevant authorities.
- Holds funds in regulated bank accounts and releases them only upon buyer confirmation.
- Charges around 1.25%–3.25% per transaction.
PayScrow
- Licensed and compliant with Nigeria Data Protection Regulations (NDPR).
- Charges a flat 2% + ₦100 per transaction, transparent with no hidden fees.
- Offers dispute resolution and business API integration.
Jump.AFRICA Escrow
- Supports secure transactions for social and online marketplaces.
- Funds released only after buyer acceptance, with a defined inspection window.
Other Notable Services
- Peppa: Trusted for social media and offline trades, licensed, low-fee.
- ReniTrust: Fast and user-friendly mobile escrow for services and goods.
- Vahlid: Low-cost escrow ideal for freelancer milestones and small retailers.
- AtaraPay: Includes real-time accept/reject at delivery, with insurance backing.
- Escrownig.com: Offers multi-channel escrow across Nigeria with a standard tariff around +2% + fixed fee.
🚚 How Escrow + Delivery Works Together with Travo.ng
- Buyer and seller agree on price and escrow terms.
- Buyer deposits payment into escrow account (e.g., via EscrowLock or PayScrow).
- Travo.ng picks up and delivers the goods as agreed.
- Buyer inspects items after receipt and either confirms delivery or rejects.
- Escrow releases funds to the seller or refunds buyer upon dispute.
- If disputes occur, the escrow platform handles resolution.
✅ Benefits of Escrow Delivery Integration
- Boosted buyer confidence through escrow protection.
- Reduced delivery disputes – payment only released after confirmation.
- New B2B & social commerce opportunities – enables drop-ship and marketplace operations with trust.
- Competitive differentiation – stands out from standard delivery services lacking payment guarantees.
🛠️ Choosing the Right Escrow Partner
| Provider | Ideal Use Case | Cost | Key Strengths |
|---|---|---|---|
| EscrowLock | High-value goods, marketplaces | ~1.25–3.25% | Licensed, bank‑regulated, well‑trusted |
| PayScrow | B2C, freelance, API‑integrated flows | 2% + ₦100 | Transparent, dispute support, API-friendly |
| AtaraPay | Offline/face‑to‑face high-value trades | %-based + insured | Real-time delivery confirmation, insured |
| Peppa, ReniTrust, Vahlid | Social commerce, freelance, SMBs | 1–2.5% or flat fee | Easy-to-use, mobile-first, licensed |
