I have been researching on a feasiblity of internet market here in Nigeria where we can make use of our credit cards system, DHL or UPs whichever is applicable there in the country. Please give me your own views and opinions soon,

I think it would be a great idea and will work if the banks can help curb fraud
If you are tech-savy and you currently reside in nigeria
Please, I would like to hear from you

Got your message javac, you could get me on gp_tosin@yahoo.com. at the moment i reside in Nigeria.
Expecting a mail from you soon. thanks

1. Accepting credit cards from Nigerians, is scary. I wouldn't recommend that, considering possible charge backs, and the rate of crime from Nigeria etc, but you can use the tradition way. Credit card verification and contract agreement, whereby once they are verified and sign the contract, charge-backs cant be established with that specific credit card.

2. The inclusion of an Escrow system would help too, but that should be done either by interswitch or bank account deposit, which means payments are irreversible.

3. A good seller verification system in place.

4. A good reputation system.

The rest is pretty just like the others.

I agree with most of your points kazey - you have really hit the nail on the head.

But you suggest that the escrow payments should be irreversible - what then does happen in a GENUINE case where the item purchased and shipped to them is not the same, or is significantly different from the item advertised by the seller? Would the buyer, who I presume would have already paid the escrow deposit, then lose their money?

Moved to Webmaster Section.

hello,
There is a service about to be launched for webmasters who want to intgrate their site (or clients sites ) to the interswitch netork so people can pay for online services using thier ATM cards (which evry 8 of 10 bank account holders own).
this service is cheap, affordable for webmasters with excellent customer care units.
Integration to the service is easy. though you will be assisted by our team of programmers.
pls watch out for details

you will be assisted by our team of programmers

@nduaj: what company is this? Interswitch?

Check out http://www.nairamall.com. This site is quite similar to ebay.

You can create your own store in minutes. No technicalities required to integrate it to instant payment because your store is automatically integrated to netnaira (http://www.netnaira.com) and most of the card payment systems in nigeria.

Check out this sample phone store http://www.nairamall.com/SampleStore/index.php

It supports online shopping and delivery, instant payment, great site customization. It's all you need if you want to start selling right away.