₦airaland Forum

Nice concept. How exactly will the conflict resolution process work

Agba pickers using fintech to cover..

Okay

Confirm picker

Atarakpa:
All this 419 companies. Looters company

Give reasons why you tagged them looters, this is an escrow company that act as intermediary between two companies having transactions in real estate or investment world escrow is the scam bursters because they won’t allow you the receiver lay hand on such funds until the other party has proven to them that they are satisfied with the services or the transaction has gone through successfully as planned they will hold the funds for a period of time which the transaction will take place.

Nigerian FINTECH shakes hand with Money Laundering

Way to go Dr Lanre Jimoh.

Nice idea.... Hoping our fintechs will grow so big to employing lots of Nigerians

This one will help reduce a lot of cost as you may not be physically present but once things are confirmed between u the other person, money can be paid into your account..... I wonder their own commission?

If only there is enough security in Nigeria, the Nigerian Start Up Act is supposed to attract foreigners/ nomads who will at least come spend their money and pay taxes.

Bigchristo:
Give reasons why you tagged them looters, this is an escrow company that act as intermediary between two companies having transactions in real estate or investment world escrow is the scam bursters because they won’t allow you the receiver lay hand on such funds until the other party has proven to them that they are satisfied with the services or the transaction has gone through successfully as planned they will hold the funds for a period of time which the transaction will take place.

I no know the one way day do you sha, you really have time. You are looking at someone who has a first class in Total stupidity and imbecility, and cannot think and make of something to benefit him and other Nigerians only to rely on government alone to feed him morning , afternoon and Night and you are here advising him. I wonder as e use marry , talk less of to have children...

Someone with high poverty stricken mentality, you do remote work them go say na Yahoo, you think of solving a problem with tech and they tag you fraudulent. and you want to waste your time with that sort of person? E be like say you get time sha.
Leave this idiot alone and let him continue to wallow in his stupidity and darkness , i no know why you no day hear word.

You get time o. He kind of people no get any reasonable achievement for this life as e come out so. Futureless and aimless person na em you day advice and give heads up to and advice. You really get time, believe me, you have a lot of time on your hands

Fintech and money laundering
Where's that mugabe picture when you need it?

Kobicove:
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 and independent assessor determine if the have capacity for their current roles in this company

I may be a lay man with zero knowledge of a solution. But with the capacity to buy off a lucrative idea from someone.

AerialMapper:
Nigerian FINTECH shakes hand with Money Laundering

Not all of them sir. There are a lot of decent nigerians out there who run decent startups.

Bigchristo:
Give reasons why you tagged them looters, this is an escrow company that act as intermediary between two companies having transactions in real estate or investment world escrow is the scam bursters because they won’t allow you the receiver lay hand on such funds until the other party has proven to them that they are satisfied with the services or the transaction has gone through successfully as planned they will hold the funds for a period of time which the transaction will take place.

oga you will not understand. Some of us understand how this things work.

Big lies.. Who kw dem.. Paid advert

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

Whats the Kuda mistake?

Robisky001:
Whats the Kuda mistake?

Bad loans especially but all in all, while they made a great percentage of profit, their recorded loss of 6bn was too much, and is much more than the profit they recorded..

DesChyko:
Bad loans especially but all in all, while they made a great percentage of profit, their recorded loss of 6bn was too much, and is much more than the profit they recorded..

Oh, I see. No wonder they've stopped giving out loans. I don't know why Nigerians don't like paying back their loans. Thanks for the Enlightenment.

CAR PAPERS

Fintechs are good but if you have selfish fraudulent management and impatient investors, the company will lose public interest.

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

How many of these Fintechs do we need in Nigeria sef. Quickteller has been operating well for many years already. I can do most of what I need there or on the banks platform.

We need solutions to other problems we have, not just payment processing and funds transfer all the time. Let's not keep trying to fix what isn't broken.

Very nice development! Paystack don dey mumu

Atarakpa:
oga you will not understand. Some of us understand how this things work.

I just give a summary how an escrow companies handle transactions if you have other reasons kindly state it here

gimakon2:
I no know the one way day do you sha, you really have time. You are looking at someone who has a first class in Total stupidity and imbecility, and cannot think and make of something to benefit him and other Nigerians only to rely on government alone to feed him morning , afternoon and Night and you are here advising him. I wonder as e use marry , talk less of to have children...

Someone with high poverty stricken mentality, you do remote work them go say na Yahoo, you think of solving a problem with tech and they tag you fraudulent. and you want to waste your time with that sort of person? E be like say you get time sha.
Leave this idiot alone and let him continue to wallow in his stupidity and darkness , i no know why you no day hear word.

You get time o. He kind of people no get any reasonable achievement for this life as e come out so. Futureless and aimless person na em you day advice and give heads up to and advice. You really get time, believe me, you have a lot of time on your hands

I don rest Jor since I don know the kind of person lol

efembaba:
Nice concept. How exactly will the conflict resolution process work

From the set up, both the seller and the buyer download the app, automatically an account is created with Wema bank one of their partners. The payment is on hold until both the payer and the sellers are satisfied with the transactions. A token is sent to both to affirm the deal and the money is transferred to the beneficiary within minutes.

In case of conflicts, the conflict resolution unit is made up of barristers that are into conflict resolution for a long time. They mediate for speedy recovery and honest transactions.

Sponsord post with no call to action.

Na wa

ikanason:
That's smart step to take...

Especially in a country like Nigeria. The escrow platform will act as a buffer of trust between two business partners

Fallout:
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.

How, it's DSM tin, u wi sti v to buy dollar frm black market na

Bigchristo:
I don rest Jor since I don know the kind of person lol

No time, Make e day run mouth like craze person. No need waste your power. E type no fit think of anything. If na woman and to do nonsense , na that one them sabi.
This Nairaland, i no know some of the kain stupid people way pack themselves full here.

Brendaniel:
Please try and be positive for them....

Have you read their terms and conditions?

This is bamboo app saying you can't hold them responsible for any loss of funds. And it's written, as far as you have an account on bamboo, you have, willingly or not, accepted these terms of service.

Another scamtech company.

Ok thanks.

I suppose you charge the marchants commission on every transaction made with ur platform, that's d model right?

WhatCanIsay:
From the set up, both the seller and the buyer download the app, automatically an account is created with Wema bank one of their partners. The payment is on hold until both the payer and the sellers are satisfied with the transactions. A token is sent to both to affirm the deal and the money is transferred to the beneficiary within minutes.

In case of conflicts, the conflict resolution unit is made up of barristers that are into conflict resolution for a long time. They mediate for speedy recovery and honest transactions.

efembaba:
Ok thanks.

I suppose you charge the marchants commission on every transaction made with ur platform, that's d model right?

It's like POS charges, a minimal amount is charged for each and every transaction. Even if you are dealing with a billion naira, you won't be charged for more than ₦2,000. For any transaction from ₦10,000, you get charged from ₦200 only