LipaSafe is an online (escrow) service that holds funds on behalf of buyers and sellers and disburses funds following a successful transaction, therefore reducing fraud and subsequently loss of money. I.e. Lipasafe guarantees that a buyer gets goods or services paid for, or their money back. Sellers receive 100% of their due payment, without ever having to chase after the buyer to make payment after a successful delivery.
Lipasafe was founded as result of problems encountered by its founders and the public, majorly loss of money in fraudant transactions for goods or services. People also lose money when buying or selling goods/services from people who seem genuine. Remember most people are genuine at first, wait until they refuse to pay you for goods or services delivered!!!
The platform is both a wallet and an escrow platform. Users can:
Log on to www.lipasafe.co.ke , click on wallet tab and go to the Upload Tab.
Lipasafe protects buyers by holding their funds in a neutral, third party account until their purchase agreement is completed. Funds cannot be pushed to the seller without the buyer’s approval - protecting against misrepresentation and keeping honest people honest.
Lipasafe system is such that the buyer can instantly release the money after a successful delivery of a good or service. Once money is held on Lipasafe, the funds cannot be withdrawn by either the buyer or the seller.
Lipasafe secures all of our user’s information. Additionally, no personal information is shared between the buyer and seller and is only held with Lipasafe for the duration of the transaction
Either the buyer or the seller can create the transaction and invite the other party. Both the buyer and the seller can upload documents like agreements, photos related to their trade.
Yes, we encourage buyers or sellers to create different escrow transactions for this. We will soon have a milestone based escrow service for this, given the nature of service based jobs.