Securing Your Online Financial Transactions
Avoid Fake Alerts. Avoid What I ordered vs What I got
Why You Need Payment Locker
Payment Locker is an escrow service designed to protect both buyers and sellers by locking payments securely until all conditions are met.
Protection against fraud
We ensure that payments are only released when both parties meet the agreed terms, preventing fraudulent activity..
Dispute resolution support
We offer a neutral platform to resolve conflicts between buyers and sellers, ensuring fair outcomes..
Trust between parties
We create a sense of reliability and confidence between the buyer and seller, ensuring a smooth transaction.
What We Offer
Secure Payment Holding
Funds are held in a secure account until all transaction conditions are met.
Dispute Resolution
Offers a neutral platform to resolve conflicts between buyer and seller
Trust Building
Provides assurance to both parties that payment will only be released when agreed conditions are fulfilled.
Fraud Protection
Safeguards against fraudulent activities by verifying both parties' compliance with the terms.
Transaction Transparency
Ensures all parties can track the progress and status of the transaction.
Condition-Based Payment Release
Payment is only released to the seller once the buyer confirms satisfaction with the product or service.
What We Solve
How It Works
Contract Agreement
Buyer and seller agree on the details of the transaction, including price, delivery, and product specifications.
Clear terms prevent misunderstandings and provide a structured framework for the transaction. They also outline conditions for releasing funds, protecting both the buyer and seller throughout the process.
Payment Holding
In this step, the buyer deposits the agreed-upon payment into an escrow account, keeping the funds secure until the transaction conditions are met.
This process protects both parties: the seller knows the payment is secured, and the buyer has assurance that the funds will not be released until they confirm the goods or services are delivered as promised. It ensures a fair and trustworthy exchange between both parties.
Product/Service Delivery
The seller provides the goods or services as per the agreed terms in the transaction.
This step ensures that the buyer receives what was promised, and both parties have the opportunity to confirm that the product or service meets the specified conditions. Once the buyer is satisfied, the process moves closer to completion.
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Completion
The buyer confirms they are satisfied with the product or service delivered.
At this stage, the escrow service releases the funds to the seller, completing the transaction. Both parties can be confident that the exchange was fair and that their interests were protected throughout the process.
Safeguard Your Purchase/Transaction
Keep your transaction safe by holding payment until all terms are fulfilled and both parties are satisfied.
Testimonials People Say
Clients appreciate the transparency and fairness we offer. Many say we provide peace of mind with every transaction
I have never seen anyhting like this. It is the only solution out there that protects me from online scammers posing as vendor
Onyeka Chukwudi
Online Buyer
Payment Locker has helped me improve sales and helped me avoid payment on delivery. I am so happy about this solution
Osaretin Ighodaro
Instagram Vendor
I once bought a fridge from an instagram vendor and it turned out to a scammer. But since I started using Payment Locker, I have full confidence in my online purchases
Yusuf Tanko
Online Buyer
Frequently Asked Queries
Still have questions? Contact us
What is an escrow service?
An escrow service securely holds payment until both parties fulfill the transaction terms, ensuring protection for both the buyer and seller.
How does the escrow process work?
The buyer and seller agree on terms, the buyer deposits payment, the seller fulfills the agreement, and the payment is released once the buyer confirms satisfaction.
Is my payment safe with Payment Locker?
Yes, your payment is securely held in a financial payment processor licensed by the CBN until the transaction conditions are met, ensuring protection for both parties.
What happens if there’s a dispute?
If there’s a dispute, the escrow service provides a neutral platform to help resolve the issue and ensure a fair outcome.
How long does the escrow process take?
The time it takes depends on the complexity of the transaction and the fulfillment of the agreed terms. Typically, it lasts until both parties confirm the terms are met.
Can I cancel a transaction?
Transactions can only be canceled if both parties agree to the cancellation. The escrow service will assist in managing this process.
Are there any fees for using the escrow service?
Yes, there may be a small fee for using the escrow service, which is typically paid by either the buyer or seller, depending on the agreement.
How do I know when the payment is released?
Once the buyer confirms that the product or service meets the agreed terms, the payment will be released to the seller. Both parties will be notified.