TCL Unveils 'VetAndPay' to Crush Online Transaction Fraud Worldwide

Dr. Kalu Ibe, the founder and CEO of Tradewyze Concepts Limited, mentioned that the software was impressively created by a Nigerian team.

At the product launch event in Abuja, Ibe stated that the application seeks to decrease corruption by rebuilding faith and honesty. He further mentioned that this initiative will foster assurance within the commercial sector as well as throughout Nigeria’s overall economic transactions.

"Today, I introduce you to vetandpay.ng, driven by Vetandpay Technologies Ltd, which is Africa's leading escrow firm and part of the TCL group," stated Ibe.

What began as a flicker two years ago is now illuminating Nigeria's transactional landscape vividly, spreading healing through its light.

He detailed the different escrow services available, such as auto purchase escrow, procurement escrow, service-based escrow, e-commerce escrow, and property escrow, noting that additional services would likely be introduced soon.

He stressed that the service is accessible to Nigerians within the country and overseas, guaranteeing no financial loss in every transaction conducted through VetandPay.

TCL intends to launch an extensive technology training program for teens in Nigerian schools through its Corporate Social Responsibility (CSR) initiative. According to Ibe, this effort seeks to arm youngsters with essential technical abilities, enabling them to participate effectively in the digital marketplace and foster innovation.

Ntufam Ugbo, the project director, stated that VetanPay is reshaping the commercial environment in Nigeria by fostering trust between purchasers and vendors.

"What VetandPay does is serve as an intermediary between the purchaser and the vendor," she explained.

Mrs Rachel Samuel, who leads Customer Service at vetandpay, characterized the platform as a secure payment tool aimed at eradicating fraud during online exchanges.

"Our primary objective is to tackle the problem of getting something other than what was ordered," she clarified.

Citing a report from the Federal Trade Commission, Samuel highlighted that consumers suffered financial losses totaling more than $8.8 billion due to fraud in 2022, which represents a 30 percent rise compared to the prior year. She emphasized that with vetandpay, both participants in a commercial exchange could enjoy security and avoid any monetary loss.

She motivated Nigerians to adopt the services offered by the platform by installing the VetAndPay app and utilizing the technology for safeguarding their transactions.

"Today signifies the start of a new chapter in secure online transactions. Regardless of whether you're a business owner, freelancer, or regular shopper, vetandpay is committed to safeguarding your earnings," Samuel stated.

Provided by Syndigate Media Inc. ( Syndigate.info ).