Nigerian fintech startup PaySureFy has entered the digital commerce market with an escrow‑protected transaction platform aimed at improving trust between online buyers and sellers while reducing exposure to fraud.

The company, founded by Nigerian technology entrepreneur Mgbeoji Austin, describes PaySureFy as an AI‑powered escrow and Trust Infrastructure platform designed to provide safer transaction workflows for individuals, businesses, freelancers, marketplaces and diaspora users.

The platform combines escrow‑protected transactions, identity verification, fraud intelligence, dispute resolution, milestone payments and transaction evidence tools to help users manage risks associated with online commerce.

PaySureFy’s launch comes as more Nigerians increasingly use social media platforms and digital channels, including Instagram, WhatsApp, Facebook and TikTok, to buy and sell goods and services, creating new opportunities for commerce while exposing users to risks such as fake vendors, impersonation and payment disputes.

Austin said the company was created to address the trust challenges limiting online transactions.

“Many people want to buy and sell online, but fear keeps getting in the way,” he said in a statement. “Buyers are afraid of fake vendors, while honest sellers worry about fake payment alerts, unserious buyers and false claims.”

Unlike traditional payment platforms, PaySureFy said it does not operate as a custodial wallet or hold customer funds. Instead, the company said regulated banking and payment partners handle fund movement and settlement, while PaySureFy provides the transaction workflow, authorisation process, fraud monitoring and dispute resolution structure.

“PaySureFy is not a custodial wallet. We do not position ourselves as a bank,” Austin said, adding that the company’s role is to provide the trust infrastructure that determines when transactions should proceed, pause, release or enter review.

The platform supports individual, business and enterprise accounts, allowing users ranging from online merchants and freelancers to larger organisations to manage transactions through different approval structures.

PaySureFy said its AI‑powered fraud intelligence system is designed to identify suspicious transaction patterns, identity mismatches and other risk indicators before transactions are completed.

The company also said it has incorporated multilingual support features to improve accessibility for users across Africa, with support for languages including Yoruba, Igbo, Hausa, Twi, Swahili, French, Mandarin and Spanish.

Austin said the company’s focus extends beyond payments to creating a broader trust layer for digital commerce.

“At first, the issue was how to make payments safer. But the bigger question became whether money should move in the first place. Before money moves, the people, transaction, risk and conditions should be trusted,” he said.

The development of PaySureFy began in 2020 during the COVID‑19 pandemic, when remote commerce expanded and online transactions became more common. Austin said the product evolved from earlier concepts before adopting the PaySureFy brand in 2023.

The platform is expected to serve use cases beyond online shopping, including freelance services, contractor payments, procurement, property‑related transactions and diaspora‑funded projects through features such as milestone payments, partial releases and dispute workflows.

PaySureFy said its website, mobile web and desktop browser versions are currently available, while Android access is being rolled out through the company’s website. The company said app store availability is expected later.

As Nigeria’s digital economy expands, fintech companies are increasingly focusing on infrastructure that supports safer transactions, identity verification and fraud prevention.

Austin said PaySureFy’s long‑term goal is to improve confidence among buyers and sellers by making trust a visible part of digital transactions.

“A buyer should not lose money before learning caution. An honest seller should not lose business because the market is full of suspicion,” he said.