Question 1

What is PayScrow and how does it work?

Accepted Answer

PayScrow is a digital escrow service that holds funds for a transaction in secure bank accounts and only releases payment when the agreed terms are fulfilled. You create an escrow payment (for a one-off deal, milestones, or brokered transaction), the buyer pays into Payscrow, and the funds stay in escrow until delivery is confirmed or milestones are approved; if there is a dispute, Payscrow reviews evidence before releasing funds.

Question 2

How much does PayScrow cost?

Accepted Answer

PayScrow charges a flat fee of 2% plus ₦100 per transaction. There is a minimum transaction amount of ₦1,000, and there are no setup, subscription, or maintenance fees.

Question 3

What countries does PayScrow operate in?

Accepted Answer

PayScrow operates primarily in Nigeria, using CBN-licensed Deposit Money Banks to hold escrow funds. It is positioned for use in Nigeria and broader Africa-focused trade.

Question 4

How do I sign up for PayScrow?

Accepted Answer

You can sign up for PayScrow by visiting the PayScrow website and creating an account through the web application. Once registered, you can start setting up escrow payment invites, milestone payments, or brokered deals.

Question 5

Does PayScrow have a mobile app?

Accepted Answer

PayScrow does not currently offer a dedicated mobile app for Android or iOS. You can use the service via its web platform.

Question 6

Who is PayScrow best suited for?

Accepted Answer

PayScrow is best suited for individual buyers and sellers, freelancers, merchants, brokers, and online platforms that need secure escrow payments for goods, digital assets, rentals, and services. It is particularly useful when you are dealing with people you do not know or managing larger, milestone-based projects.

Question 7

How do I contact PayScrow support?

Accepted Answer

You can contact PayScrow support by emailing info@payscrow.net. Additional contact options may be available through the contact or support sections of the website.

Question 8

Does PayScrow have a plan for teams or businesses?

Accepted Answer

Yes, PayScrow supports use by teams and businesses, including merchants, brokers, and platforms. Businesses can use it for regular escrow transactions and for embedded escrow flows via its API.

Question 9

Does PayScrow offer an API or integrations?

Accepted Answer

Yes, PayScrow offers a B2B escrow API and integrations. It provides an API reference, sandbox keys, webhooks, settlement tools, and a WordPress plugin to embed escrow functionality into marketplaces and other platforms.

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