Trusted Middleman, Secures Buyer-Seller Payments
EscrowLock is an award-winning eCommerce platform that has become more popular for its escrow service.
It serves as a trusted middleman for facilitating payments between two parties, usually buyers and sellers, in order to protect each of them against any fraudulent practice by the other.
The arrangement is such that EscrowLock receives and secures payment from a buyer, and then releases it to the seller when the buyer has received the transacted goods or services in pre-agreed condition.
This effectively solves trust issues in business situations where a buyer does not trust the seller to deliver specific product or service after receiving payment, or where the seller does not trust that the buyer will send across payment after receiving goods and services.
At EscrowLock, our mission is to help reduce fraud and scams that adversely affect individuals and businesses engaged in eCommerce.
This is with the view to support the growth of micro, small and medium enterprises, enhance job creation, fight poverty and contribute to achieving the Sustainable Development Goals (SDGs).
$100 million Facebook Small Business Grant Program
EscrowLock is proudly one of the winners of the $100 million Small Business Grant Program organized by the world’s largest social media company, Facebook Inc.
The grant is being utilized to strengthen the EscrowLock system in order to more efficiently support individuals and small businesses that sell products and services across platforms such as Facebook, Instagram, WhatsApp and other online and offline channels.
Entrepreneurial Impact Award from the Young African Leaders Initiative (YALI)
Through its founder, EscrowLock was awarded the Entrepreneurial Impact Award by the Anambra Chapter of the Young African Leaders Initiative, YALI – a signature project of Barack Obama, former United States President.
This was in recognition of the vital role EscrowLock played in supporting online entrepreneurs in Nigeria to carry out safe transactions, especially amid the COVID-19 restrictions and challenges.