This blog post was first published in https://blog.vesicash.com/4-takeaways-from-how-businesses-can-thrive-in-the-new-normal-with-ifeanyi-ndiomewese/

Over the weekend, we held the first of our webinar series providing practical business tips for SMEs and fledgling businesses. The session was moderated by Mariam Adeyeye and Ifeanyi Ndiomewese was our guest speaker on the day.

In the wake of the recent global epidemic, Businesses in recent times have had to sit back and take into account novel ways to survive these difficult times. This is why our team at Vesicash had a conversation with Ifeanyi Ndiomewese, a Lead Venture Analyst and Start-Up editor at Techpoint.Africa on styles to adopt by businesses to be able to thrive in the ‘new normal’. Here are the insights we got and hope that would come in handy:

Leverage on relationships.

There is no doubt that entrepreneurship is a tough game and it could be even tougher in the emerging landscape- this is where the power of relationships comes in.

Business owners should create an affinity with their users such that they trust their brand and even become an advocate of what they do when the ride gets tough.

However, these relationships shouldn’t be limited to those patronizing the brand only. Rather, other stakeholders within the chosen niche should be considered- either by fostering existing ones or carving out new relationships, it helps businesses to know what they are doing wrong or right and how to stay above the waters.

Entrepreneurs should ensure that they have the right team.

To be able to thrive in any situation, whether good or bad, it is important to have a solid structure in place- it isn’t the number of team members that matter but the assurance that this team is the right one.

Starting with a small but dynamic team helps businesses actualize the set dreams and scale through any hurdle that might arise in their entrepreneurial journey.

Businesses should build for sustainability.

Another important tip for businesses is for them to build products that a lot of people would benefit from thereby increasing the potential value that can be derived from the market. After all, the essence of business is to be able to create solutions for their users.

Due to the COVID 19 pandemic, individuals and businesses alike have had to look for new ways of surviving and navigating the new terrain and ensuring that their respective needs are met- this creates a situation rife with opportunities for businesses to come in by making provisions for the emerging problems and deriving value for their businesses from the solutions they have provided.

For instance, the pandemic should have taught owners of physical stores that there is a need to run an e-commerce store and liaise with a notable logistics company for home delivery purposes.

Another example of sustainability is the clamor for payment security since the exchange of physical cash should be limited- this is an opportunity for an escrow provider to turn out different products that can serve this need.

Businesses should create market segments for their products.

Ifeanyi also suggested that another tip to thriving in the ‘new normal’ is by creating fragmented markets for products. The key to this is by ensuring that there is a core value that these different products would center around.

Those running an agribusiness could consider delivery of poultry products to a particular area while processed items are sent to another- either way, money is being made and people are getting fed.

He advised all business owners to find a unique factor that brings the different users together and then ensure that each of these market segments works towards actualizing the set goals.

Conclusion


The key to thriving above all situations is to have a small but dynamic structure, build products with the future in mind, and also create market segments that would serve the core values of a business entity.

For more information about our products and services, send us an email at info@vesicash.com or check out www.vesicash.com. We are also available via our social media channels like https://mobile.twitter.com/Vesicash and https://www.instagram.com/vesicash.

This blog post was first published in https://blog.vesicash.com/why-is-digital-marketing-important-for-ecommerce/

Marketing has always been the drive for any business and the relationship between these two can be likened to an old advert used by a famous margarine brand- “B without an A is like a train without an engine.”

Since Ecommerce is the new order of the day, marketing is now heavily reliant on digital means and has continued to determine the success or otherwise of any eCommerce brand.

Let us take a dive into some of the reasons digital marketing can’t be ignored by any eCommerce brand:

It helps in customer acquisition

The first thing to consider in any business is that even if there’s a physical store, you would never be able to reach out to all your potential customers without using digital means. Try to recollect the number of orders you’ve gotten from someone who viewed your website or a blog post you wrote about some products and then reached out to you for sales- you should compare this number with those that actually came to buy from you without seeing anything online.

The world is now mostly online and that is where your priorities should lie in terms of marketing. From putting up the details of your business in the local directories or posting pictures of what you sell or do, you acquire more customers who might not have otherwise heard anything about what you offer.


It helps in grabbing the right customers’ attention

With the myriad of means with which to reach out to your potential customers via digital marketing, there will always be something that appeals to the different kinds of people that would require your services. From ensuring that your business comes up in search engines (Search Engine Optimization and Marketing) to selling your products via emails (Email Marketing) or putting up carefully crafted content relating to what you do on different social media platforms (Social Media Marketing), there is always a way for you to grab your customer’s attention.

With digital marketing channels, you are not only putting your brand out, but you are also making sure that the people that would be needing what you offer are the ones seeing your business or referring you to others.

It makes it easier to track your progress

What would give you greater satisfaction than being able to keep a track of what you do?

As against the traditional marketing styles where you meet customers physically, exhaust all your energy to ‘convince’ them only to never see sales from them, digital marketing gives you the room to know what works well for you and what doesn’t. If you send out an email about special offers, for instance, analytics allows you to know who opened it and who clicked it. With this information, you will know if there’s a need to tweak the headlines or segment the recipient list- the beauty of digital marketing.

Analytics makes it easy for you to know your strengths and weaknesses by showing you the figures. If your posts on Instagram brought more leads for the month, you might then put more effort into the type of content you are putting up on the platform rather than doing everything at once.

Conclusion

The importance of digital marketing in eCommerce cannot be overstated and for anyone that wants to successfully run a business in the present day, you have to invest your time, energy, and resources into ensuring that you market your products and services through digital channels.

If you have any questions about our products and services, kindly visit www.vesicash.com/faq or shoot us a mail at info@vesicash.com.

This blog post was first published in https://blog.vesicash.com/when-do-i-need-escrow/

Lots of explanations have been given about the escrow process and how important it is but some people are still not quite sure as to whether or not escrow is what they need for their transactions.

We all need escrow services at one point or the other in our transactions because everyone desires to transact confidently. Let us have a look at some of the scenarios where escrow is greatly needed.

When buying online
A major means of getting people swindled of their hard-earned money is through the online purchase of goods and services. A quick look at social media platforms reveals that most people pay so much for next to nothing in terms of quality and then come back to bemoan their loss.

For the purchase of items or for payment of services advertised by self-acclaimed ‘social commerce experts’, it is of utmost importance to use Escrow. Using an escrow account for payment online does not only give you the rest of mind that your money is safe, but it will also nudge the seller to deliver the best quality since payment, in this case, would be dependent on the satisfaction of the buyer.

Vesicash’s personal accounts and Instant Escrow are ideal for your peer-peer online purchases.

When you are a social media merchant or own a marketplace/e-commerce platform.

Online Buyers aren’t the only one getting scammed of their money, Sellers are on the receiving end also. Imagine getting an order for goods, using your money to ship the goods down and the Buyer claiming to have had a change of mind at the last minute- that’s a loss, right?

Another scenario is this- you are a freelancer who got contacted to deliver a particular service over a period of time. Imagine using your time and exhausting your creative juices to get the work delivered only to never hear from the client again.

The above-painted scenarios are being experienced by merchants and online service providers almost every time and this is why you need to use escrow.

For social media merchants, Trizact pay link gives you the needed motivation to deliver the ordered goods because the Seller would have paid into a trust account via the unique pay link.

For owners of ecommerce sites or marketplace platforms, Vesicash offers API integration into your platforms so that payment for goods or services on your site is made securely into an escrow account.

During urgent trade deals or Automobile sales

There are times when we find ourselves finalizing trade deals that we don’t want to lose out on because they appear juicy. It isn’t wrong to trust one’s instincts but with reports about fake credit alerts, it is important to use a guaranteed payment method like escrow.

Time won’t be a hindrance because Vesicash’s Instant Escrow allows you to initiate and execute the escrow transaction within 2-5 minutes and you can be sure that you are paying into the right account and also getting the best value for your money.

When you are investing in real estate

Another important scenario where escrow is needed is when you are purchasing a property. I’m sure that you will agree that it is risky to pay upfront for a property that you haven’t checked out.

However, homeowners would not want to ‘keep’ a property off the market if there is no guarantee or assurance from the buyer’s end- this is where escrow comes into play.

Putting up part of the payment in an escrow account shows the buyers that you are committed to buying the property, it also gives you, as the Buyer, the peace of mind that your money isn’t going anywhere until the deal is finalized. Either way, you both win.

Instances, where escrow is necessary, are not far-fetched as it is the trust component for your transactions. Whether you are buying or selling, escrow gives you the needed assurance that your money and values are safe. It would be then safe to say that escrow clears all doubts in transactions.

To get started with Vesicash and to get information about our products and services, shoot us a mail at info@vesicash.com or visit [url]vesicash.com/faq[/url]

This blog post was first published in https://blog.vesicash.com/how-to-use-instant-escrow-a-step-by-step-guide/

Instant Escrow is an awesome product by Vesicash that allows you to pay securely into an escrow account in just 1 minute in order to eliminate distrust- imagine the need to finalize a deal on the spot but the seller is scared to go ahead because he/she has had fake credit bank alerts in the past.

With Instant Escrow, the chances of scam are completely eliminated- sounds amazing right? Well, it is real and in just a minute, you would have completed your escrow transaction.

Instant Escrow’s unique features include the swiftness of the transaction, a dedicated URL and landing page, on the spot onboarding for both parties, and no need to sign up. To get started with Instant Escrow, follow this step by step guide on the processes involved:

Step 1

The first step to using the product is by visiting [url]instant.vesicash.com[/url]

Step 2

Enter your phone number, the recipient’s phone number and click on[b]‘Get Started’[/b]

Step 3

Provide the necessary details of the transaction like the amount, your email address, and that of the recipient. You would also need to give a description of the transaction, e.g ‘Payment for Mercedes Benz Kompresssor’. You also have the option of uploading the trade contract, if there’s any- this could be the bill of lading (for shipped goods) or original proof of ownership(for used vehicles). You are good to go after filling out the required fields, click on ‘Proceed’.

Step 4

You will get an overview of your transaction as shown in the image above. Once you are satisfied with the details shown to you, you can then click on the ‘Proceed to Payment’ button.

Step 5

As shown above, you will be given a couple of payment options. You can initiate a bank transfer into the dedicated escrow account, generated for your transaction or, you can pay via all major debit or credit cards. For international transactions, payment may also be made via wire transfer. For local bank transfer and card payments, funds are reconciled immediately.

Step 6


Once payment is made, the details of the transaction are sent to the other party via email to accept. The email contains a link for them to log into the transaction dashboard with the registered email address and phone number for them to click on the ‘Order is delivered’ icon.

Step 7


Once the buyer confirms the delivery, the disbursement takes place and the transaction is completed.

This blog post was first published in https://blog.vesicash.com/online-payment-problems-that-have-been-solved-with-digital-escrow/

Ecommerce in Africa remains a way off from its initial estimated projections. Its lack of widespread adoption can be attributed to a fundamental lack of trust between transacting parties. This problem of trust is however two-sided; To fully complete any transaction, the Seller must trust that the buyer will pay for his products if he ships outs his items without receiving any financial commitment from the Buyer, while on the other hand, the Buyer must trust that the Seller will deliver as agreed if he makes payment upfront.

Before digital escrow came into play, many merchants have either been burnt by indecisive customers while people looking to buy items online have lost money to online scams. How then has digital escrow been able to make the Seller and Buyer of digital goods and services be on the same page? We will take a look at some of the problems that have been solved with escrow:

Payment before delivery clause

Online merchants and freelancers have had the problem of not getting paid by their clients while merchants are scared of sending goods over and then struggle with getting their funds from the Buyers while freelancers are no exception too; many have exhausted their creative juices only to never hear from their clients again. In a bid to solve this problem, the payment before delivery option was introduced but merchants still had issues convincing the buyers.

However, escrow service has successfully been able to solve this problem by being the trusted third party that holds the funds securely while the other party delivers its end of the deal. With the intervention of Escrow systems, the seller is sure that he/she gets paid once the goods or services are delivered while the buyer is sure of getting the goods before the funds are released to the seller.

Falling victims to online fraud

In a bid to get the best values online, many people have rushed to finalize transactions that have turned out to be fraudulent. This was exacerbated because there was no way to verify the claims of partners in these transactions- this will not be the case anymore with the use of Digital Escrow services.

With an inbuilt identity verification system that requires important details of each party involved in the transaction, the Buyer can now trust that the seller will deliver the product/service if the payment is made first while the seller is also assured that the payment will be released if the product is delivered satisfactorily, according to the terms of the transaction.

With escrow systems, chances of getting defrauded online have been greatly reduced and there is a confidence that comes with having a third party secure the funds until both transacting parties agree. Another way that escrow has prevented fraud in online transactions is that in cases where a party bails out of the initial agreement, funds are returned to the rightful owner and disputes are resolved.

Seamless and Secure Payment options

Before digital escrow came to be adopted as a means of enabling smooth online transactions, people have had to deal with stories of funds ‘hanging’ in mid-air and payments being delayed long after the agreed-upon date. However, escrow has brought about easier ways of handling online payment and parties now have control over their funds and services provided.

With Vesicash Escrow, you can use the milestone payment option that allows you to pay the service provider for each accomplished deliverable- this not only gives the holder of funds total confidence but also motivates the other party to deliver as at when due to get the remuneration.

Conclusion

Digital Escrow is here to ensure that people no longer experience the problem of payment security in their online transactions by bringing accountability and transparency to the process. If you desire control over your payment and want to be free from fraud, then escrow is the solution that you need. If you have been looking for a trusted escrow provider, Vesicash(link to the website) is here to help you transact safely and with utmost confidence always. For more information, shoot us a mail at [url]info@vesicash.com[/url] or visit [url]vesicash.com/faq[/url]

This blog post was first published in https://blog.vesicash.com/tips-on-how-to-effectively-work-from-home/

Since you’ve been working from home, when have you been procrastinating that task you should have carried out already? Have you finished the online course you started way back? I’m not going to blame you though because I know that we are in difficult times and are struggling to stay above the water. I’d like you to be productive irrespective of how tough things get because your employers expect you to deliver, your business is crying to get online– let us dive into some of the tips that can help you work effectively from home:

Create and stick to a schedule

To get any meaningful task accomplished in this period, you will need to create a schedule that works for you and be religious to it. Some employers have an already mapped out schedule for work and you are expected to follow it through. This is why you should allot your time to the things that need to get done and set reminders where necessary. You don’t want to have numerous overlapping tasks staring back at you while you waste time under the guise of ‘resting’.

Set Priorities

I know that it can be difficult to prioritize tasks and organize workflow if the traditional framework of offices and workspaces is missing. This is why you should have To-do lists explaining what is urgent and what could be shelved till later.

It is also important to keep in touch with other teammates by staying online on official communication channels- it is almost impossible for everyone on your team to forget tasks at the same time. Aim to squeeze all the commitment and results you can out of working hours.

Select the proper tools

The fact that you are working from home doesn’t mean that you can’t work with the best tools. These tools aren’t just restricted to the work but things that make you comfortable enough to deliver. Proper tools for you might start from getting a comfortable chair to sit on or a table that allows you eye-level contact with your laptop.

For work tools, ensure that your laptop or tablet is in good condition. You also have a wide range of cloud-based tools that can effectively let you work remotely. Figure out what you need as an individual or as a team.

Map out boundaries
Shuffling in and out of work mode is inevitable when working from home. Picture having to stay serious while working in the comfort of your bed- it’s hard, right? This is why you should make mental notes of when it is time to work and time for relaxation. Carve out space in the corner of your room- this makes you mentally prepared that you are leaving home for work even if both are in the same space.

Take lunch breaks like you would while in the office but don’t eat beyond the allotted time. At the official close of work, set reminders for the following day so that you can prepare ahead.

Finally, take care of yourself!

Knowing your energy levels will help you understand when it’s time to take a break or not. The lockdown is enough to dampen anybody’s spirit and working in solitude might drain you more than ever.

This is why you should do regular exercise- this could mean taking a walk around without thinking of anything relating to work. You should also eat healthily and a midday nap won’t be wrong if it would make you more energized.

Once you’ve got the tasks for the day accomplished, you can read a book, see a movie or walk outside to get fresh air. The most important thing is to know what works for you and stick to it.

www.vesicash.com

This blog post was first published in https://blog.vesicash.com/common-mistakes-people-make-while-transacting-online/

Online transactions have become a norm and most people have gotten more comfortable using all the solutions brought up by financial technology. With the recent outbreak of COVID 19 and the clamor for lesser physical interactions, there’s been an increase in online transactions- raging from item purchase to hiring freelancers and even internet banking. It is pertinent to become extra careful while handling these transactions to avoid getting scammed or losing important financial details. Below are some of the mistakes that should be avoided while transacting online:

Using public Wi-fi and computers

One of the easiest ways to fall victim to hackers and scammers is by using public Wi-Fi and computers for your transactions. It is important to use a dedicated computer that isn’t used for casual internet surfing or social networking. If there are no other options than using these public computers, you must always clear your browsing history, cache, and cookies so that your online transaction details aren’t stored for hackers to have access to.

Not to worry too much if you’ve used public computers or Wi-Fi for your transactions in the past, no one can get access to your details if you use Vesicash Escrow Service. This is because you will be notified of any login attempt that would require you to enter a unique One Time Password (OTP)- you are always protected when transacting with Vesicash.

Clicking on unverified links from Emails

You might get fascinated by the headline of an email you just received talking about great discounts or mouthwatering offers and the next thing you do on impulse is to click such mails. That is a big mistake because the link might be a virus or automatically used to fetch out personal details.
Clicking on these links won’t put you into trouble entirely if you use Vesicash Escrow service, this is because we will not only verify the identity of the other party but also ensure that you get your orders delivered before payment is released from escrow.

Not updating your mobile number for bank accounts

Another way that has been used by hackers and online scammers is by doing a sim swap on unsuspecting bank accounts. To avoid this, make sure that your contact number is updated for all bank accounts and also pay attention to any notification you get during the transaction process. If you prefer receiving notifications via email, then ensure that your active email is linked to all your accounts so that you get prompts in case of suspicious activity on your account.
We also understand the importance of your phone number and email at Vesicash- this is why we send login notifications to your registered phone number and email address and you also get regular notifications on over the course of the transaction process with us.

Not confirming the amount before entering card details

In our eagerness to conclude a seemingly good deal online, we may rush to enter our card details without going over the whole transaction again. Imagine confirming the payment of #230,000 for a #23,000 transactions – I’m sure you will agree that a single overlooked zero can make a huge difference.
When using Vesicash Escrow service, not only do you get email and SMS notifications of the amount before confirming payment, your transaction overview is clearly displayed before you initiate payment.

Conclusion

To avoid falling victim to online fraud and having your financial details hacked, it is important to avoid putting your details on public computers, clicking on links from unsolicited emails, not syncing your email address, and phone numbers to your account and using easy passwords. It is also necessary to buy from a trusted merchant and confirm the transaction overview before paying. The good news is that most of these problems can be avoided by using a reliable Escrow service like Vesicash Escrow for your transactions– by providing a transparent and accountable process for transactions that keeps the interest of the transacting parties protected.

Join the moving train of www.vesicash.com users that now pay with total confidence.

This blog post was first published in https://blog.vesicash.com/common-coronavirus-scams-to-avoid-online/

Away from how the pandemic has affected human interaction and traditional ways of handling business, there have been certain reports of an increase in online scams, especially those closely associated with the current situation in the world.

Let us examine some of the common scams linked to Coronavirus and how to avoid falling victims:

Using websites to sell fake goods

Dishonest individuals have used the opportunity of the COVID-19 pandemic to set up websites claiming to sell high demand goods like hand sanitizers and WHO recommended masks that never arrive.

Some even go to the extent of putting up drugs that can cure the virus up on their walls for sale- unsuspecting people who have been eager to get a cure.

To avoid falling victim, it is in your best interest to always visit known and trusted ecommerce platforms for purchase (do not buy drugs that haven’t been certified) and also use escrow for all online transactions.

Fake bank reps calling to request for account details

This sounds familiar, right? – a husky voice calling and claiming to be the representative of your bank and then proceeding to either say your ATM Card has been blocked or that the Bank Manager asked that you update your bank details.

Do not fall for it! Your bank will never ask for sensitive details like BVN or Card expiry dates and Security.

Never be in a rush to provide these details to strangers- you aren’t meant to disclose them to anyone so do not fall victim to scammers waiting to swindle you of your hard-earned money.

Enticing messages from ‘government sources’

This period is one that has people looking out for palliatives and would be quick to click any link that would direct them to where to get it.

Most of these scam messages contain links that require you to enter your account details or share with a certain number of groups before you get your ‘gift from the government’.

Do not click these links and do not share them with other unsuspecting internet users. The government will not ask you to enter your details through those links.

‘Safe’ and ‘guaranteed’ investment platforms

This is a tough time for everyone, no doubt and we will always be piqued by any financial service that aims at improving our earnings but this can be a tricky venture.

Hackers and scammers need money as much as you do and would stop at nothing to rob you of your meagre savings in the name of investments.

Before you send your money to that website that promises you a high return rate within the hour, make sure you are not contributing your shillings into someone else’s dollar account. Be alert and do not be too covetous so that you don’t fall into the hands of fraudsters that would stop at nothing to milk you dry.

Scam websites claiming to help you work remotely

Freelancers aren’t left out of the fangs of online scams- many have fallen into the hands of clients that would make you deliver but disappear when it’s time to pay.

I know that you want an extra source of income for your creativity but do not be in a hurry to accept freelancing deals from websites you don’t trust.

To guarantee that you work and get paid, Vesicash Escrow services will make sure that your payment is safely secured in a trust account so that you get paid once you deliver.

Conclusion
It is important to take caution especially in this period where people are looking for all means to defraud others and have resorted to scams.

Do not rush to release your bank details, do not click on links from untrusted sources and most importantly, always use escrow service for all online payment to avoid stories that touch. Stay safe, stay alert, and stay careful.

Visit www.vesicash.com for more information on how escrow service works.

This blog post was first published in https://blog.vesicash.com/things-to-do-when-hiring-a-freelancer/

We all need help with things, especially skills that do not necessarily have to be delivered in person. With everyone now relying heavily on digital services, we all need freelancers at one point or the other. Hiring a freelancer might however be a herculean task, especially if it’s not something we’ve done before- this is why it is important to follow certain steps when asking for the services of a freelancer in order to avoid stories that touch. Here are some of the tips that have been curated for you:

Ask for previous works done

The first task before hiring a freelancer is to ask such a person to submit a portfolio of works they’ve delivered in the past. You cannot rely on word of mouth only in this case because you need all the proof that you can get in order to help in your decision making. Asides the fact that asking for their portfolio makes you know what they are capable of doing, it also helps you stick with the best option since you would have compared various freelancers before settling for one. For you to believe that the person you want to hire is the best, you have to see what he/she has done before.

Research the prices for the service that you need help with

Before you can negotiate the price with a freelancer, you must have the knowledge of what is charged for the service you are hiring help for. Negotiation is very key in hiring and as much as you don’t want to be cheated, you shouldn’t offer to pay ridiculous prices too- ask experts in the field about the price for what you want to do. Knowing the price also helps in decision making, especially when you want to compare different freelancers before settling for one.

Use Escrow

For safe payment and guarantee that the other party will deliver, you should use escrow service. Vesicash escrow enables you to authorize payment when you are satisfied with the service rendered although the money would have been safely deposited into a trust account so as to give the freelancer an assurance that you want to pay. If the service that you require will be delivered in batches, Vesicash escrow will make this easier because we also offer milestone payments.

Leave an honest review

Once you have made the decision of picking a freelancer and you would have paid via escrow, it is important to leave the person an honest review of their services. If you are impressed with the work done, you can also add a tip as a means of encouraging the freelancer to keep up the good work and do more.

Hiring a freelancer should not be stressful as long as you have made the necessary research on your options and prices. Paying with escrow is another way to give you control over your money while ensuring that the freelancer delivers. If you need help with initiating an escrow transaction, shoot us a mail at [url]info@vesicash.com[/url].

This blog post was first published in https://blog.vesicash.com/turn-your-side-hustle-as-a-freelancer-into-a-main-one-during-lockdown/

Freelance is increasingly becoming the option and more people are turning to it during this era of social distancing. There is no shortage in the demand for skilled workers who can deliver their services over the web, so it is important for you as a freelancer to put your best foot forward and maximize your chances of landing and executing well-paid gigs.

We’ve put together a few tips that will come in handy if you’ve been thinking of how to turn your side hustle into a main one:

Leverage the power of Social Media
The most important tool for your freelance career right now is social media. Social media provides a platform that accommodates the type of content you are putting out. With different platforms styled for different audiences, there is always a way to market what you do. You can post samples of your previous works or upload reviews from your clients.

Since most states are currently on lockdown and companies embracing the remote working option, this means that you have more time on your hands to post about what you do and the services you can offer on social media.

Manage your time well

To carve a niche for yourself as a reliable freelancer, you must cultivate the habit of delivering on time. Know the priorities of each order that you get and in cases where you won’t be able to meet up with the deadline, make sure that you communicate this to the client beforehand. No one wants a freelancer that never delivers as promised and you don’t want to be seen as an unreliable person.

Collaborate with other freelancers
A way to get good freelancing gigs is to collaborate with other freelancers that are in the same business that you do. This will enable you to have ideas of what works in your field at each time and what doesn’t work anymore. They can also outsource some gigs to you or have you work with them on projects. With friends constantly updating you with the new trends in freelancing, you can be at the top of your game always and even know how to handle your billing process.

Use Escrow
To assure your client that you have no intention of bailing out of the agreement, you should use Vesicash Escrow services. Vesicash gives you total control and all the assurances that you need to do your job well because you know that your payments are safely secured in a trust account.

As a recap, do not forget that it is possible for you to turn your side hustle into a main one that brings in cash in this lockdown. There is plenty of time for you to consistently post what you do on social media, you should also get yourself freelance friends that will keep you abreast of new trends in your field. Once you have gotten new gigs, always keep to your promise about delivery and most importantly, use escrow for your payments in order to give yourself and the client the needed assurance. Visit www.vesicash.com to know about our escrow service.

This blog post was first published in https://blog.vesicash.com/tips-on-how-to-build-a-web-presence-for-your-business/

Ensuring that your business has a strong web presence is a value that cannot be overemphasized because of its importance. Running a business is just a part of the wheel while ensuring that the business is easily noticeable online is another important part- both work hand in hand to help you achieve your business goals. Picture having a business that no one hears about or can’t find anywhere in this age of search engines, that won’t end well.

As a business owner trying to improve their web presence, the first thing that you should have at the back of your mind is that the process is neither immediate nor magical- it requires a well thought out plan and time investment. Before you begin this journey to getting noticed online, you can take a quick look at the importance of building an online presence for your businesses.

Once you have convinced yourself that you are well equipped and ready to go online fully, the next thing you need is to set well-defined goals that can be reviewed over time. Ask yourself the reason for building an online presence- is it to provide information about what you do? to increase awareness or to generate more leads for your business? After these goals have been set, it is also necessary to research your competitors and see how they are doing online.

With the goals set, you can then proceed to make sure you have a functional website that is not only up-to-date and user-friendly but also discoverable on search engines. Always remember that the entry of digitization has made more people familiar with the internet, the first thing that people do when they see or hear anything relating to what you do is to find out more on search engines- I’m sure that you would not like to run a business that can’t be found anywhere.


Harnessing the power of social media is the next step to take- with different platforms suited to different needs, you would always have that channel that accommodates the message you are trying to pass across. Do well to post relevant content regularly, engage your audience and also try to master what they would like to see from you.

Building relationships with other brands in your field is also something that makes you noticeable online. If you are an active member of your online community and you give good insights about your niche, this lends credence to your brand too. By building relationships with people in your brand, you can get introduced to potential customers by members of your community that are more connected than you are.


Blogging is another way to build an online presence- you could write about new cake recipes as a baker or tips on how to manage a naughty dog if you own a pet shop. Blogging can increase traffic to your website, help you with information about those that are interested in what you do and comments from them would also help you improve on your brand.

Finally, you need to constantly check your progress by using analytics. Your efforts should be tracked from day one up to the point that you actualize the set goals. Visitors to your website can be tracked and your social media followers can also be known so that you know what posts resonate well with your audience and what you need to improve on. Do not forget that all your goals won’t get actualized in a day and that building a web presence for your business is an investment that pays overtime.

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This blog post was first published in https://blog.vesicash.com/how-the-coronavirus-pandemic-has-affected-traditional-ways-of-handling-business/

It is no longer news that the world has been working very hard to defeat the malicious Covid-19 that has been wreaking its devastating effects over the past months. There are currently about 1.8 million affected people worldwide and every facet of human interaction has been altered by the virus – social distancing and lockdown appear to be the new norm and humans have had to decipher new ways of handling issues surrounding health, education and even business transactions. Let’s take a look at how the pandemic has affected traditional ways of handling business.

Physical stores are being replaced by e-commerce

Major stores have been locked and social distancing has been clamored for. What this means is that most people are now reliant on e-commerce stores to get their needs. Coronavirus has made it impossible for buyers to walk into stores and choose what they need- all they have to do these days is visit sites of online stores, buy all they want, and have them delivered to their doorsteps.

Another effect that is closely linked to this is the surge in the demand for delivery services since people will not be physically present in stores to pick up their goods.

With the increase in the use of online stores, cashless payment options like escrow and online card payment options have replaced the need for physical exchange of cash.

More remote interactions

Different business interactions ranging from walk-in meetings to product launch events have now been replaced by virtual alternatives in this period. Business meetings and deals can be sealed over the internet with apps like Zoom and Google Meet. Product launch and guides can also be done virtually through webinars or podcasts. What this means is that even after we conquer the virus, most companies would have gotten comfortable with the virtual world and more remote working options will be explored.

Reliance on digital banking and drop in bank visits

To prevent the spread of Coronavirus, most banks have restricted visits to their branches and have advocated for more reliance on internet banking. Deposits, getting a statement of account, and bank transfers can now be done with unique bank apps or USSD codes. Even withdrawals can be done at designated ATMs- this means that we are getting fewer need to visit a bank branch since we can now bank from the comfort of our homes via phones, tablets, laptops, or desktop computers.

Digital banking has also birthed the adoption of secure digital payment technology like the escrow service offered by Vesicash.

Conclusion

We have explored some of the ways in which traditional ways of handling business have been affected by the Covid19 pandemic. The effect ranges from marketing to cashless payment options, e-commerce, and reliance on digital banking. It is possible that the pandemic will carve out a new style for the business world and these effects might be the new norm. Has your business been affected in any way by Coronavirus? Shoot us a mail at [url]info@vesicash.com[/url], we will like to tell your story.

This blog post was first published in https://blog.vesicash.com/how-using-escrow-prevented-me-from-getting-scammed-online/

Online shopping has become a hobby for me and nothing has given me more satisfaction than searching for my needs online and getting them delivered to my doorstep. In fact, I have gotten so accustomed to buying online that I would gladly drive by stores, do some window-shopping, and then proceed to buy from an online store.

If it is possible to go back in time to the days when online stores were legit and most merchants were trustworthy, I will surely take a flight back because my experiences before I learned about escrow were nothing close to good.

It started with a known clothing line that advertised real cotton T-shirts and I had ordered in bulk after making payment. When the delivery came, tears welled up in my eyes as I beheld the substandard products that stared back at me. I had to issue refunds to some of my customers that had earlier paid for the T-shirts and ended up selling the goods at a far lower rate than I had intended.


Oh, I definitely can’t forget this annoying merchant too in a hurry- the salesperson had insisted that I pay for delivery too, only for me to receive a call from the logistics company tasked with delivering asking me to come to pick up my goods miles away from the agreed location with the threat that they would return it to the company within a few hours if I didn’t show up. Thanks to Lagos traffic, I got to the location an hour late and luckily, just in time to prevent them from returning the goods. This would have meant me having to make another payment to have my goods shipped again – all because of one online merchant that wouldn’t keep her end of the deal.

It was my younger brother who had seen a tweet by Vesicash and informed me that using escrow service would save me from further troubles. Without wasting any time, I created a personal account on the Vesicash platform and began using them for my transactions.

Not only has Vesicash ensured that I got exactly what I ordered but the joy of having so much control over when payment is released is also indescribable. Anytime I initiated a new transaction, I grin and tell myself, “if there is an issue with the transaction, the money sits safely in escrow until everything is resolved.”

With [url]vesicash.com[/url], merchants now trust that I have no aim of absconding with their money since it would have been safely deposited into a trust account. I am also assured of seamless, safe, and genuine transactions at all times.

For more information on why you should consider using escrow for your online transactions, send an email to [url]info@vesicash.com[/url] or visit www.vesicash.com.

This blog post was first published in https://blog.vesicash.com/digital-economy-as-the-latest-deal/

What is digital economy?

Can you still remember the last time you bought an item physically? When was the last time you had to visit the bank to get your bank statement? As a seller or service provider, when was the last time you went through the stress of showing your goods or end product to the seller in person? If you cannot easily recollect the last time you did any of the aforementioned, then you have been enjoying the digital economy.

With the influx of emerging technologies and globalization, traditional ways of handling businesses have been carefully merged with their digital counterparts. Most transactions now take place from the comfort of one’s home on smartphones, laptops or even desktop computers as the case may be.

Simply put, the digital economy is the umbrella term for all transactions that take place on the internet or supported by the web. Consumers are now influenced by what they see on the internet and the success or otherwise of most businesses are determined by how well you have positioned your brand on the internet.

What are the branches of the digital economy?

There are three main branches of digital economy and these are:

• E-business refers to all businesses that happen online. It could be buying and selling, customer service, payment processing, business collaborations, information sharing or even recruitments. It is the umbrella body for all forms of transactions or services provided on the internet.

• E-business Infrastructure is the combination of hardware, software, content, and data that are used in delivering E-business services to customers and partners.

• E-commerce is the buying and selling of goods and services over the internet or electronically and the transfer of payment through the same medium.

Merits of the digital economy

Apart from the fact that the digital economy has paved way for a rise in startups and businesses, it has also greatly promoted the use of the internet- most transactions can now be completed online. What this means is that the internet has now been accepted as something integral and this has also increased the influx of online businesses.

With the dive into the digital economy, most businesses now have an online presence and have flourished without having to physically prove their integrities. Buying, selling and the distribution of goods and services are now easily done and without stress.

Another merit of the digital economy that can be easily seen is the rise of digital goods and services and this has cut across all sectors and industries. Online downloading of movies has now replaced CDs and DVDs, transactions that would have required our presence in the banking halls and probably having to queue for hours can now be done online.

Since most transactions and payment of goods and services can now be made online, there is no need for handling cash. This has helped reduce corruption and fraud as we now operate in a more transparent economy.

Conclusion

Ease, transparency and improved standard of doing businesses seem to be the bedrock of the digital economy. With the digital economy and its branches, we can be sure of the best way possible of getting the best values. If you have not started enjoying the digital economy by either getting your business a solid online presence or start e-commerce fully, I think you should not wait any further. With daily innovations, we can be sure to enjoy the digital economy for ages to come.

For more information on why you should consider using escrow for that online marketplace, you are trying to build, send an email to info@vesicash.com or visit www.vesicash.com.

This blog post was first published in https://blog.vesicash.com/now-is-the-time-to-take-that-business-online/

With the digital economy firmly taking root in our everyday patterns of handling business, there is an increase in the need for businesses, either small or big to have an online presence. However, building an online presence is not only a necessity when you render online services or sell online. You might have a physical shop and your goods and services are not available online. Regardless, you need to have information about your business online so that potential customers can discover your business and find out more information about the goods and services you have on offer before visiting your physical location.

For example, a coffee shop that is listed in a digital directory is easily discoverable by a potential patron who has dealings in the area and needs coffee; he takes out his mobile phone and search for ‘coffee shops around me’, the shop information is listed among the results displayed, and since he is just around the corner, they can follow the map’s directions to the shop. And there you have it. An offline customer, discovered through online means.

A good online presence potentially has more upsides than just contact information and directions. From listings in digital directories to content published on social media pages, or establishing an e-commerce platform, to a website that showcases videos and reviews about services rendered, a good online presence might just be the next break needed for your business to get noticed by the generation of customers that rely more on the power of information gotten on the internet than an over-reliance of word of mouth. Let us further delve into some of the reasons your business needs to have an online presence:

Potential customers can easily reach you

Like earlier explained, most people rely on the information they can get on the internet about businesses before making a purchase. Even if you have physical customers that trust you enough to make referrals, there is a high possibility that the person they are talking to about what you do will ask for your website or social media handles so that they can have a feel of what you do, it is what they find online that convinces them or not to bring their business to you.

Marketing your brand is easier online

For instance, let’s say you have a local cake shop for example, ‘ChopChop cakes’ and you know how to make really tasty cupcakes but you have not been making as many sales as you would have hoped. Don’t you think that you are experiencing this because you have not harnessed the excellent marketing tools that social media gives? You could have a blog that talks about your new cake recipes, newsletter marketing that lets people know when you have freshly-baked goods available, an Instagram page with pictures of your finger-licking cupcakes. All these can be done and would reach customers miles away since most people have access to the internet and online content can be easily shared with people you don’t even know; all you have to do is sit back and handle people’s orders as they come in.

Relationships can be easily built with customers and potential customers

With the internet and social media as the go-to for most people, making sure that your business has an online presence is a guarantee that your brand will have a voice that can be easily related to. With your brand out there, you can interact more with your customers on a personal level and even forge new relationships that can be sustained over time. With the internet, you can communicate with your target customers and pique people’s interest in your brand as long as you are sending the right messages across.

In conclusion

One of the most important investments that any business can make is to have a strong online presence. Don’t forget, having an online presence for your business could be getting listed in a digital directory or having a website, it could also be running a social commerce platform or curating a social media page. In fact, it could be a combination of all the above, as long as there is something concrete that pops up about your business when people search for the services that you offer.

Do you have experience in helping businesses create an online presence? Or perhaps you have some interesting ideas on the topic? Don’t hesitate to reach out to us via email at [url]info@vesicash.com[/url] or just tweet at us https://mobile.twitter.com/Vesicash. Let’s work together and grow commerce across Nigeria and Africa at large.

www.vesicash.com

This topic was first posted in https://blog.vesicash.com/how-fintechs-are-helping-people-do-better-businesses/

With everyone always looking for an easier way to do things, businesses and finance areas have recently been penetrated by the use of Fintech. Hardly will there be any conversation bordering around finance, banking, and business transactions that the mention of Fintech will not come up. What is Fintechs? In what areas can it be applied and has it helped people carry out better business transactions?

What is Fintech?

Fintech (short for Financial Technology) are emerging technologies and innovations that aim to replace traditional ways of handling financial transactions and businesses. Business transactions can now be completed without leaving the comfort of one’s home. Never again do people have to queue up in banks to get loans. Banking transactions can now be done via mobile phone, all these are possible thanks to the evolution of Fintech.

Ways in which Fintech is being used

Insurance, trading, banking services, and risk management have all been automated using Fintech. Smartphones are now being used for mobile banking; I can get my statement of account, transfer funds, and pay bills, and even do remote check deposits via my mobile banking app.

Innovative trading platforms can now be used to facilitate online and real-time trades. There are AI financial advisors that help in managing investments with little or no human intervention.

In essence, Fintech has been used to replace all areas where we needed local intervention like brokers, insurance companies, and bankers. With new and emerging technologies every day, people can now do better businesses and handle financial transactions with ease.

How has Fintech helped improve the business?

Imagine having to make an early morning deposit for a client who wouldn’t send your goods till he receives payment and you have your customers on your neck. You wake up early in the morning and dash to the bank; not neglecting how risky it is to carry around huge amounts of cash. You get to the bank and are told that it is not yet time to begin transactions for the day. You wait and when the banker eventually starts attending to you, she complains that there is no network and you are asked to either deposit the funds in the hope that the network will improve later in the day or worse yet, are asked to return later in the day to complete your transaction. There is a deadline and you are running out of patience but you have no option but to take the risk of making that hopeful deposit.

The above scenario sounds familiar, right? Well, it doesn’t have to be the case anymore with the intervention of Fintechs. Now, you can have your customers transfer funds into your account and you can do the same for your customer, all via your mobile app. You are notified when the funds have been received by the client and you both keep your end of the bargain. Who wouldn’t want the ease that Fintech is bringing into finance and business? Below are some of the other ways that Fintech has helped people do better businesses:

1. Lending processes have now become easier, instant, paperless, and more convenient as opposed to the earlier days of bulky paperwork and having to deal with bank monopoly.

2. Business and personal taxes, payroll, contractor payments, and expenses can all now be properly tracked by using accounting Fintech solutions.

3. E-commerce stores have emerged and online transactions can now be done with ease without the need for the seller and buyer to meet.

4. Payments can be done online via escrow services or even through Cryptocurrencies.

5. Payment processing is now easier as most customers now prefer using Debit/Credit cards for payment. There is no longer a need to move around with large sums of cash, as Point of Sales terminals (P.O.S) are now available, all thanks to Fintech.

6. The expense and Invoicing technology have helped business owners keep track of their cash flow and expenses. This accounting technology does not require high I.T knowledge or technical know-how.

Conclusion

Financial Technology is here to stay and provide easier ways of doing business. If you are unsure as to how to proceed with your e-commerce business, this blog on Instagram commerce will assist you.

If you have further inquiries, kindly reach out to us via https://www.instagram.com/vesicash/,https://www.facebook.com/vesicash, www.twitter.com/vesicash, or visit https://vesicash.com/faq.

www.vesicash.com

This was first posted in https://blog.vesicash.com/using-escrow-for-your-freelance-gigs

In simple terms, Escrow is when a third party holds funds until the provider of services or Seller, and the Buyer (receiver of the services) reach an agreement and are satisfied with the terms of the deal.

For example, Mr. A sees the profile of a freelance copywriter online and he contacts him (Mr. D). They both discuss and reach an agreement that D would get paid after submitting 50 copies for Mr. A’s brand. After the agreement, Mr. A initiates a transaction with Vesicash so that he can keep the funds secure in his trust account. After keeping his end of the deal, Mr. D submits the copies to his client who then informs Vesicash Escrow to pay Mr. D since he is satisfied with the copies provided. Both parties are happy and they both get the best values.

Benefits of Using Vesicash Escrow for Freelance Services

For a freelancer, after you have been contacted by the client for the service you advertised, you can initiate the transaction on our platform by providing the details of your freelancing services and that of your client which will be verified by us. Instead of expecting payment directly from the client, something that might cause disagreement, later on, you pay into our trust account and we keep the funds secure while confirming the genuineness of the transactions. Once you are done providing the services, you get paid when the client affirms that he/she is satisfied with what you delivered.

Promotes Credibility

Let us use the above scenario as an example, telling your client to pay into the Vesicash trust account shows that you are legit and have no plans of bailing out of the deal. As the person who needs freelancing services too, using Vesicash Escrow services will assure the freelancer that he would get paid since cash is already safely secured.

Prevents fraud

Using the Vesicash Escrow service gives a guarantee that you are dealing with a real entity since all the information would have been verified from our end and funds will not be released until both parties involved are satisfied. If by any chance that there is a discrepancy in what was required and what was delivered, the dispute window is opened and the discrepancy is resolved before the funds get disbursed.

Gives Control

What more can give more joy than having control over getting the full package for your money. This is what Vesicash is offering you- by using the Vesicash platform for your transactions. You decide when the funds get released, you report any dispute and overall, you control how your money is disbursed.

Conclusion

Hiring a freelancer or offering freelance services can be cool and fraud-free if you transact with Vesicash because our Escrow service provides all that you need to have safe, genuine and transparent transactions.

Sign up today and take a step toward making your freelance experience less stressful than it needs to be. For more information, drop us a line on Twitter, or Instagram or visit our https://vesicash.com/faq

www.vesicash.com

This post was first published on https://blog.vesicash.com/3-reasons-why-online-marketplaces-should-embrace-escrow/

Online marketplaces like Fiverr, Jiji, Jumia, and Konga along with social channels like Facebook, Instagram and WhatsApp have made digital commerce a lot easier for buyers and sellers in Africa. However, one friction point that still exists is in the payment processes across these platforms. Typically, most marketplaces allow sellers and service providers list their products and services, while the exchange of money, goods or services takes place offline. For goods based transactions, buyers and sellers must meet somewhere in person and hope the transaction is genuine. While for service-based transactions, buyers and sellers have to continuously hope that each party delivers their end of the bargain when due.

Safety and trust are the most significant factors when it comes to trading via online marketplaces. Therefore, marketplaces need to be designed in a way that payment security is guaranteed while also inspiring trust between buyers and sellers. Digital escrow payments could help marketplaces provide safety and trust for their buyers and sellers for the following reasons:

Prevents fraud

The whole idea of using an escrow service is to prevent fraud. When money is held in escrow, buyers and sellers become accountable to each other, eliminating the risk of being defrauded. Since the buyer knows that the funds won’t be released to the seller until the order is genuinely delivered, and the seller knows that the buyer is genuinely interested in the order (having committed funds into escrow), both parties become indebted to carrying out their end of the bargain, thereby guaranteeing a secure purchase.

Promotes Trust

People are usually skeptical when it comes to transacting with strangers. The main role of escrow is to verify the identities of the transacting parties to be sure they genuinely exist. When the parties involved in a transaction are unaware of each other’s identities, escrow acts as a third party, offering to guarantee the trustworthiness of the sellers and the buyers. In situations where a transaction breaks down, the escrow can easily pinpoint the defaulting party.

Promotes customer loyalty

A vast majority of online marketplaces and classifieds platforms in Africa operate the same way – sellers and service providers list their products and services, while the exchange of money takes place offline. Providing escrow as an extra layer of security to users on your marketplace will distinguish your platform from others. Having escrow in place gives buyers the confidence that their money is protected, while invariably giving sellers the impression that they are dealing with only genuine buyers. When you give buyers and sellers the feeling that you care about the security of their transactions, you automatically win their trust and keep them coming back.

Conclusion

Accountability, security, and transparency should be the bedrock of any marketplace transactions and these are the blocks on which the Vesicash Escrow technology is built. Vesicash Escrow www.vesicash.com offers a brisk payment solution for both small and big marketplaces – helping your marketplace to develop smarter business models for both buyers and sellers. Our escrow technology can be seamlessly integrated into your marketplace promptly. You can request access here.

For more information, please send an email to info@vesicash.com or visit our FAQ page. www.vesicash.com/faq

www.vesicash.com

First published on blog.vesicash.com

New to Instagram commerce? Here’s what you need to know

Instagram is one of the most popular social networks in the world, especially among youths. As of July 2019, there are 5.6M Instagram users in Nigeria, most of which are are aged 18-44 and 80% of all Instagram accounts follow a business profile. Furthermore, 60% of Instagram users find new products through this platform, and 75% users take an action after viewing a post – either they visit the brand’s website or send a DM to make a purchase. With all of this in mind, it’s your e-commerce business’s best interest to use this platform to your advantage because your current and prospective customers are not only active on this platform but also willing to engage with your brand. So, today we’ll give you some tips on how to increase brand visibility and boost sales with Instagram.

First thing you need to do is set up your Instagram profile.

Put your brand name, logo, and description in place. Your call to action is very important, what do you want users to do when they get to your page? How do they contact you – Do you want them to send a DM, email, call or visit your website? You don’t want them to leave your page without taking a decisive action.

Know your audience

Who are you trying to sell to? What demography of people is interested in your brand? Remember that people aged 25 to 34 are the largest user group (2,160,000) out of the 5.6M Instagram users in Nigeria. Knowing who your market is will help focus your content creation to appeal to the right people so that you don’t end up creating generic content that does not strike a chord with people who come across it.

Create great content

Now that you know the people you want to appeal to with your posts, invest in creating quality content that your ideal audience will love. Getting people to pay attention to your content on Instagram can be tough – and having mediocre content won’t help. Start to think of your Instagram page as the new “Shop Now” button on your website and high-quality is the currency for getting engagement with your target audience on Instagram.

People love visuals, so invest in quality photos and videos to pass your message across but keep it simple. Canva and Pablo are two free tools to create stunning images and graphics for your posts. It is important to note that the recommended image size for Instagram photos is 1080 x 1080 pixel and your captions can be 2,200 characters long (including your Instagram handle).

Don’t forget to include hashtags that are relevant to your products. For instance, if you’re selling heels, identify four to five community hashtags that heels lovers use, such as #heels #heelshoes, #weddingheels, #highheels, #instaheels or #iloveheels, and then like and leave comments on about 100 to 200 images underneath these hashtags every day. This will draw organic traffic to your page, which is needed to turn your fresh new Instagram feed into a lead- and revenue-generating machine.

Leverage Influencers

In addition to creating engaging posts, use Instagram influencers to maximize your brand exposure. Do some research on influencers in your product, follow them and tag them to your posts once in a while. The truth is, customers will always trust an individual’s recommendation over yours. So, recruit those influential folks to promote your product whenever you have some funds. It not only gives credibility in the eyes of your customers, but it also increases your brand visibility, letting more people see your products.

Protect your sales

Now that you have people asking to know more about your product and want to buy, you need to protect your sales. As a relatively new brand, you’ll meet different kinds of customers – genuine buyers who are interested in your product, scammers and those who still do not trust your brand enough to pay upfront for your product and would prefer Pay-On-Delivery. For those kinds of customers, you need to protect your sales using a digital escrow that ensures you get paid when you deliver the product. This way, you can secure all your payments from untrusted clients.

Vesicash Escrow (www.vesicash.com) protects both you and your buyers in any transaction so that you can do business with anyone, anywhere in complete confidence. All you have to do is create an escrow transaction, copy the transaction link and paste it on each product or Instagram post description you create.

Conclusion

Although it’s tough for e-commerce shops to stay relevant in such a competitive space like Instagram – it’s also not impossible. As more and more Nigerians get used to this exciting new shopping frontier, it’s up to you to begin maximizing your potential and generating sales through Instagram. I am however certain that following the five tips above will certainly give you a solid foundation to start.

For more information, please send an email to info@vesicash.com or visit our FAQ page. https://www.vesicash.com/faq

www.vesicash.com

First Published on [url]blog.vesicash.com[/url]

How to buy or sell with Escrow in Nigeria

Let me guess; you saw an item online that you really like. You’re ready to purchase it but here comes the skepticism; you’re not sure the item will actually be as described or if it will be delivered at all once you make payment. Once you make the upfront payment, you’re left to continuously hope you’re not disappointed.

Or it could be the case that you sell on Instagram, Facebook, Twitter or on your website, but customers keep asking for Pay on Delivery (PoD). You don’t want to do PoD, because if you do you end up losing out because of unserious buyers who make frivolous orders they never intend on paying for, yet it remains a struggle to convince your customers to pay upfront.

Another possible scenario is that you are a freelancer. You deliver excellent jobs to your clients, yet they become unreachable when it’s time to pay up. Sometimes they don’t pay at all or they don’t make complete payments for the services you have rendered.

Conversely, you could be a project owner who has a tight deadline for a new project but your trusted freelancers are not presently available. So, you need to get a new freelancer, but you’re not sure about their skills and you don’t want to waste time and money hiring the wrong person.

If you fall into any of these categories, then worry no more! One way to lessen that stress is to make all payments securely via Vesicash Escrow. Our payment solution mitigates the risk of fraud by verifying the identity of all parties, holding funds securely and only releasing funds when all sides agree they’re happy.

Our secure escrow technology caters to two types of transactions:

Milestone Transactions: For service-based transactions. It allows the service provider receive payments after the completion of pre-agreed project milestones.
One-off: Typically for product-based transactions but also applicable for service-based transactions. Payment is made to the service provider or merchant in full, once the transaction terms are met.

With our escrow service, payment security is guaranteed for all parties involved in a transaction and anyone across Africa can transact with each other in total confidence without the fear of being defrauded.

So how does it work?

The Vesicash Escrow process works in three phases;

Agreement Phase: Buyer and seller set the terms of the transaction.
Transaction Phase: The buyer pays and the funds are held securely in our digital escrow.
Disbursement Phase: The transaction funds are released to the seller when both parties are satisfied.

Visit vesicash.com/register to create an account then follow video below to use the escrow:

https://www.youtube.com/watch?v=7qDLkxRj8u0#action=share

How does this help you as a Seller/Freelancer?

Since our secure digital escrow holds the buyer’s money, you no longer need to worry about unserious buyers. You are rest assured that the buyer is actually interested in the item since they have already paid money into escrow. You no longer need to commit your freelancing skills to unreliable project owners.

Sadly, fraudsters exist, especially online and in digital markets. So don’t go down the road of risky cash payments or blind bank transfers. Instead, make sure any payment you make is secure by using Vesicash Escrow to protect your transactions.

For more information, please send an email to info@vesicash.com or visit our FAQ page.

www.vesicash.com

Building a trust-centred marketplace

Online marketplaces seem to be all the rave right now. Essentially, a good marketplace gives buyers a range of choices in what they would like to buy, as well as giving sellers a variety of people to sell to. Entrepreneurs and freelancers in Nigeria have been able to circumvent the pitiless formal labor markets and gain a revenue opportunity through the gig economy by marketing their goods and services on online classifieds and listing marketplace platforms, signing up to drive on ride-hailing platforms or even listing unused spaces in their homes on home-sharing platforms. The low capital costs involved in joining such platforms lowers the barrier to entry and has made such platforms an attractive source of passive income (side hustle) or even a living wage in some cases.

What does it take to build a successful online marketplace?

Building a successful marketplace is however not a trivial task and there are several key factors to consider such as; supply of service providers/merchants, building demand for services/goods, transparency, building a sense of community, consistent quality in goods and services provided by the service providers and merchants and above all, Trust.
Ride/Home-sharing marketplaces have come up with their review and rating systems, while other platforms (product and service platforms) have turned to Escrow as a way of building trust among their users.
Escrow and the Online Marketplace

Escrow ensures that transactions are carried out according to the agreed terms and conditions.https://blog.vesicash.com/what-is-escrow-and-how-does-it-work/ Vesicash Escrow makes transactions more secure by keeping the payment in a secure escrow account, from which it is released only when all of the terms of the agreement have been met as stated.

Vesicash,www.vesicash.com the leading provider of Escrow service technology in Nigeria, offers flexible escrow capability that can be integrated directly into marketplace platforms via an API, thereby serving as the trust component for these online marketplace platforms.

Once Vesicash www.vesicash.com has been integrated into a marketplace platform, the escrow process is straightforward and seamless.

The buyer visits the online marketplace and selects the product or service they would like to pay for.

Once the buyer and service provider/ seller agree to payment terms & fees, the buyer pays securely into Vesicash Escrow. Where the funds are held until the terms of the agreement have been met. Payment can be a one-off payment, which is made after the service/product has been delivered in full, or split into milestones (service-based orders), meaning that payment will be released in parts to the service provider as they meet specified milestones in the project.

A small transaction fee is charged on each transaction and thanks to our flexible fee schedule and revenue sharing arrangements, our charges are always reasonable.

In conclusion

Introducing Escrow into an online marketplace creates a competitive advantage by catering to the mainspring of a successful marketplace; Trust. Addressing the trust issue of your online marketplace with [url]Vesicash Escrow[/url] allows you to focus on the other important building blocks of a successful marketplace.

Looking to integrate Vesicash Escrow into your online marketplace platform? Fill our API request form or send an email to info@vesicash.com www.vesicash.com

Categories: escrow, escrow in nigeria, escrow nigeria, escrow payment, escrow service in nigeria, how-to, marketplace platform, nigerian escrow, nigerian escrow service, online escrow, online marketplace

How can an Escrow service help your hustle?

^{Original Post can be found at https://blog.vesicash.com/how-can-escrow-help-your-hustle-business-nigeria/}


Vesicash https://vesicash.com is all about helping your business grow. Our flagship product, Vesicash Escrow is a unique system that is solving a big pain point for business owners and entrepreneurs in Nigeria.

You might be wondering what value using an escrow system could bring to your business, (or what Escrow actually means?https://blog.vesicash.com/what-is-escrow-and-how-does-it-work/)Well, wonder not, instead check out what some Vesicash users have to say about how using the Vesicash Escrow system takes away the headaches that come with receiving payments from their customers and clients.

Tammy Deshiy – Vlogger, Freelance Photographer, Videographer & Graphic Designer [url]instagram.com/tdeshiy[/url]



“As a freelance photographer, videographer, artist and graphic designer, getting work has never been the difficult aspect of my trade. It has, however, always been the money aspect of things. It’s either I don’t get paid the full agreed upon rate by the client or I don’t get paid on time which often resorts in me delaying the delivery of the work.”

“I personally like to focus on the work itself and not chasing down the client to get my fee. This is where an escrow system like Vesicash comes in handy. I get to just focus on my creative ability without having to chase people down to get my due.”

“However, it takes a bit of effort to make the client understand the system and how it works. That’s probably the biggest obstacle in the escrow industry’s growth.”

Follow @tDeshiy on Instagram
Watch Tammy Deshiy’s videos on Youtube

Isaac Durotoye – Freelancer, Product Manager


“Escrow services for freelancers cannot be overemphasized and it’s something that I believe to be one of the most important tools that any freelancer can have with them, just like he has the software to help him complete whatever task is given, so also Escrow is there for him to be able to accept payment without stress. Come to think of it, many people don’t trust freelancers just as freelancers most times don’t trust their customers not because of anything in particular, but because of mutual experiences they’ve both had. Severally, customers have paid freelancers who in turn end up not carrying out the task they were expected to do, thus making the customer run at loss. On the other hand, more freelancers have carried out tasks for customers which at the end of the day, the customers either end up not paying or change their mind after the freelancer has invested time, energy and resources into the project which makes the freelancer the one at loss.

I believe that with Escrow, there will always be a mutual trust created between the customer and the freelancer as there is assurance that either party cannot get played. As a freelancer, I am sure my money is intact on completion of my job and as a customer, I am also sure that my money can be retrieved on failure of the freelancer delivering his job. This ensures that everyone is at rest”

May Anthony Lifestyle Limited – Fashion & Lifestyle Brand [url]instagram.com/mayanthonyng[/url]


“Most of our new customers are skeptical about making payment directly to us and reluctant to complete transactions, but with Vesicash they feel safer buying from us, because they know that their funds are safely held in escrow until they receive their orders. This gives them a certain confidence when making payment.”

– Anthony of May Anthony

Check out May Anthony on Instagram

LegalForms Marketplace- Legal Services Marketplace [url]marketplace.legalforms.ng[/url]

LegalForms is a marketplace that connects Lawyers with their clients.



Our business is based on trust and by outsourcing that trust aspect to Vesicash, it allows us focus on our core business which is basically creating a seamless, and easy to use platform.

Hire an experienced lawyer on LegalForms Marketplace

There you have it. Sign up on Vesicash www.vesicash.com today and enjoy the peace of mind that comes with using an Escrow service for your transactions.

For more information, please send an email to info@vesicash.com or visit our FAQ page.

What is Escrow? And How does it work?

Escrow transactions are financial arrangements where a trusted third party holds and regulates payment of the funds required for two or more parties involved in that transaction. Escrow ensure transactions are carried out according to the agreed terms and conditions.

Vesicash Escrow www.vesicash.com makes transactions more secure by keeping the payment in a secure escrow account, from which it is released only when all of the terms of the agreement have been met as stated.

Use Cases of Escrow
Escrows are very useful in the case of a transaction where a large amount of money is involved and a certain number of obligations need to be fulfilled before a payment is released, such as in the case of a website being built, where the buyer might want confirmation of the quality of work being done before making a full/partial payment, and the software developer doesn’t want to deliver a ton of work without any payment assurance. While traditional escrow services are quite difficult and must be obtained through banks and lawyers, Vesicash provides instant digital escrow services at affordable rates.
While the payment is 'In Escrow', the transaction can be safely carried out without risk of losing money or merchandise due to fraud. This eliminates all legal jargon and allows for secure transactions and confident buyers and sellers.
Escrows are very useful when you are buying or selling goods/services from someone you barely know. Vesicash escrow ensure you are transacting with verified people at all times.

Who is Escrow For?
Are you a digital business in Nigeria that sells on Instagram, Facebook or Twitter? 90% of the time, you are dealing with unserious buyers. 65% of the people that come across products on these channels fail to buy because they are afraid of being defrauded. Different kinds of fraud on these platforms include: payment not being made for items sold or items not delivered for payment made. The risk for Sellers is in not receiving payment for items they’ve shipped, or most times dealing with unserious buyers which means as a Seller, you would have shipped out items, including the delivery fee and you get nothing in return. Escrow reduces this risk for you as a business because at all times, you are dealing with buyers who have made a financial commitment before you ship out the item. You never have to worry about chargebacks because the money is safely ‘in Escrow’. If you have to issue refunds or returns, Escrow makes it easier to refund without making your buyers or clients wait for days. Escrow eliminates your exposure to fraud.


As a buyer, your payment security is ensured with escrow. The seller does not get your money until you see and confirm your satisfaction with what you paid for.

To be continued... You may visit www.vesicash.com for more information

Hello Nairalanders,

I trust you’re doing well. Nairaland remains Nigeria's most expansive online platform. As widely used as it is as an avenue to exchange goods and services, the issue of trust remains a key one on Nairaland. It's nigh impossible to ascertain the identity of a person you’d like to transact with, which increases the risk of being defrauded or scammed. From exchanging currency, to buying a phone or laptop, to purchasing land or even paying a web developer or graphics designer for their services, there's always the risk that you don't get paid for your services or goods or as a buyer you pay and don't get what you paid for.

The ideal solution to these issues is an escrow system. During an escrow transaction, a trusted third party serves as an intermediary in a transaction by holding the funds and releasing to the seller only after both parties are satisfied with the transaction.

I'd like to introduce you to Vesicash. Vesicash is an instant digital escrow system that protects you in your online transactions by serving as a trusted intermediary.

How it works:
Sign up on Vesicash at https://vesicash.com/ and create a transaction. (You input the details of the transaction, recipient's details etc)

The transaction is sent to the receiving party to review and approve.

Once payment is made, the service provider/seller is notified and once they deliver on the agreed product or service, they can mark as complete

- As soon as the buying party is notified and is satisfied with what has been delivered, they can mark the transaction as complete and the funds are then released to the seller/ service provider.

It is a simple enough process and support is available on their website , https://vesicash.com/ or their social media channels: Twitter - @Vesicash , Instagram - @paywithvesicash