Konfam, a fintech startup developed by Novalux ideas ltd, A Lagos based company will join the African fintech market as one of the latest solution providers in the Nigerian financial system.

According to one of the Co-founders, Mr Michael Amakeze, the fintech was set up to provide escrow services and act as a payment intermediary between buyers and sellers who over the years are yearning for payment system that gives them equal control and access to their funds during business transactions while stamping out fraud, especially for online transactions.

In a statement released to the public by the Company's Head of Marketing, Mr Peter Ezenwa , the startup aims to among other things build trust between vendors and their customers, boosting business transactions and eliminating fraud in the process.

Part of the statement reads:

"The prominence and traction of the Nigerian online market place came with it a lot of promises. For online vendors, the world became smaller. The reach is unprecedented, with minimal cost. With the increasing internet penetration, smart phone revolution and the widespread adoption of electronic payments, ecommerce in Nigeria is fast taking a pride of place alongside brick and mortar stores within a very short time. However, the massive opportunities it presents also has a tragic flaw-lack of trust. Incidences of fraud are rife. According to ecommerce complaint (@eccnigeria), Instagram shoppers alone lost over N273 million Naira to scammers between April 2020 and September 2021. This is excluding other social media platforms and other online market places.

It is for this reason that the Lagos-based Fintech startup NOVALUX IDEAS LTD developed and launched a revolutionary app and website called Konfam.ng. It is an escrow platform that helps to eliminate fraud and grants equal control of funds to both vendors and buyers, ensuring seamless and satisfactory business transactions.

Konfam helps vendors to increase their sales by bridging the trust gap between vendors and their customers. The motto of Konfam is apt- TRUST BEYOND WORDS. With Konfam, incidences of “what I ordered v what I got” can now be retired permanently. Dubious vendors and customers alike will no longer have their ways as the product is a democratized platform, equipping each of the partners to a business transaction equal access to the funds. In other words, the funds cannot be moved until both parties sign off on the transaction.

Using Konfam for transactions is not just easy but fun. The steps are very simple.
With Konfam, you get to create an instant joint (holding) Wema bank account with your business partner.
Money is paid into the account from anywhere at any time
Upon fulfilling business terms, any of the partners can initiate the withdrawal protocol.
The other partner endorses the transaction by inputting an OTP sent to their phone and email.
The money drops in the destination account.

It is important to note that as long as that transaction was done using any of the Konfam version (Playstore or Web), the transaction is safe and secure. 

The Founders have envisaged circumstances that may lead to conflicts between two partners in some transactions. And so, they have set up a conflict resolution team and a model for resolving conflicts if and when they arise. Konfam.ng is the safest way to transact business. Start today and KONFAM your transactions"

 Sponsored Post

Nice development

That's smart step to take...

Nice

Uhm

Fintech everywhere

I beg give me my money for hand I take God beg you.

We have about 200 Fintechs with millions of unbanked Nigerians.

The industry is big and can accommodate more players.

Welcome aboard, Konfam

All this 419 companies. Looters company

Hope the money nairaland charge for this advert nor too plenty.

Yes

I know I'm fly as an eagle, I'm grinding like I'm Tony Hawk

Since the government said we can’t transact with our atm to buy or pay for goods online… it has become a blessing for these tech guys.

.

Fintech and fraud na 5&6

Nice development. Fintech is the future and with this latest Startup Act 2022, I believe confam will thrive.

I need to buy one start up

konfam bitters waa oo

I wanted to write something but developed writer's block and now, I don't know what to write.

Learn from Kuda mistakes and don't follow Flutterwave's suspicious activities.

It's time I found a startup

Generalwoodz:
It's time I found a startup

I have come up with one...I need partners to help set it up
It's Blockchain oriented, in case you are interested let me know

tnerro1:
I need to buy one start up

I have come up with one...I need partners to help set it up
It's Blockchain oriented, in case you are interested let me know

freechuks05:
Konfam, a fintech startup developed by Novalux ideas ltd, A Lagos based company will join the African fintech market as one of the latest solution providers in the Nigerian financial system.

According to one of the Co-founders, Mr Michael Amakeze, the fintech was set up to provide escrow services and act as a payment intermediary between buyers and sellers who over the years are yearning for payment system that gives them equal control and access to their funds during business transactions while stamping out fraud, especially for online transactions.

In a statement released to the public by the Company's Head of Marketing, Mr Peter Ezenwa , the startup aims to among other things build trust between vendors and their customers, boosting business transactions and eliminating fraud in the process.

Part of the statement reads:

"The prominence and traction of the Nigerian online market place came with it a lot of promises. For online vendors, the world became smaller. The reach is unprecedented, with minimal cost. With the increasing internet penetration, smart phone revolution and the widespread adoption of electronic payments, ecommerce in Nigeria is fast taking a pride of place alongside brick and mortar stores within a very short time. However, the massive opportunities it presents also has a tragic flaw-lack of trust. Incidences of fraud are rife. According to ecommerce complaint (@eccnigeria), Instagram shoppers alone lost over N273 million Naira to scammers between April 2020 and September 2021. This is excluding other social media platforms and other online market places.

It is for this reason that the Lagos-based Fintech startup NOVALUX IDEAS LTD developed and launched a revolutionary app and website called Konfam.ng. It is an escrow platform that helps to eliminate fraud and grants equal control of funds to both vendors and buyers, ensuring seamless and satisfactory business transactions.

Konfam helps vendors to increase their sales by bridging the trust gap between vendors and their customers. The motto of Konfam is apt- TRUST BEYOND WORDS. With Konfam, incidences of “what I ordered v what I got” can now be retired permanently. Dubious vendors and customers alike will no longer have their ways as the product is a democratized platform, equipping each of the partners to a business transaction equal access to the funds. In other words, the funds cannot be moved until both parties sign off on the transaction.

Using Konfam for transactions is not just easy but fun. The steps are very simple.
With Konfam, you get to create an instant joint (holding) Wema bank account with your business partner.
Money is paid into the account from anywhere at any time
Upon fulfilling business terms, any of the partners can initiate the withdrawal protocol.
The other partner endorses the transaction by inputting an OTP sent to their phone and email.
The money drops in the destination account.

It is important to note that as long as that transaction was done using any of the Konfam version (Playstore or Web), the transaction is safe and secure. 

The Founders have envisaged circumstances that may lead to conflicts between two partners in some transactions. And so, they have set up a conflict resolution team and a model for resolving conflicts if and when they arise. Konfam.ng is the safest way to transact business. Start today and KONFAM your transactions"

 Sponsored Post

There is no information on the background of the principal officers of the company.

Please give us a brief rundown of their career history telling us which companies they have worked for and the positions they held; this information will allow an independent assessor determine if they have capacity for their current roles in this company

Ok o.

This is nice.

FuckDModz:


Another startup that will fold.

But continue...

Please try and be positive for them....