Payscrow
- Founded
- 2018-01-01 in Lagos, Nigeria
- Headquarters
- Lagos, Nigeria
PayScrow is a Nigerian digital escrow service provider founded in October 2018 by Ekpedeme Ekpe. The company operates as a trusted intermediary for online transactions, holding buyer funds securely until both parties confirm satisfaction with goods, services, or project milestones. Based in Lagos, Nigeria, PayScrow addresses the endemic trust deficit in African e‑commerce, freelancing, and B2B trade by providing a neutral third party that eliminates advance‑payment scams, non‑delivery risks, and pay‑on‑delivery friction. The platform supports transactions of any value and can be accessed via a user‑friendly web interface or integrated into other platforms through its B2B Escrow API. PayScrow works with CBN‑licensed deposit money banks and payment processors, ensuring regulatory compliance and fund safety. The company’s mission is to “reshape the world of transactions into a secure and transparent ecosystem,” enabling buyers and sellers—whether individuals or enterprises—to trade confidently even when they do not know or trust each other. PayScrow also maintains a separate B2B escrow platform for the Indian market under the domain payscrow.in, targeting micro, small and medium enterprises (MSMEs) needing secure inter‑business settlements. While the core product remains escrow services, the company differentiates itself with features like milestone‑based payments, transparent fee structures, and a dispute resolution mechanism. With over six years of operation in Africa’s growing fintech landscape, PayScrow continues to position itself as a foundational trust layer for digital commerce.
Detailed Review
Full Detailed Review
PayScrow was founded in October 2018 (as per Ekpedeme Ekpe’s LinkedIn “Founder & CEO at PayScrow, Oct 2018 – Present”) in Lagos, Nigeria. The company’s official website (payscrow.net) states it is “posed to reshape transactions into a secure and transparent ecosystem.” It is a service of Ewossy Services (mentioned on the Products page). The founding location is Nigeria; no separate incorporation elsewhere has been confirmed.
Products & Platforms:
- Escrow Payment Invite – Sellers generate a payment link; buyers pay into PayScrow’s custody; funds are released only after delivery confirmation. - B2B Escrow API Integration – Customizable REST API for marketplaces, e‑commerce platforms, and enterprises to embed escrow flows. - Milestone‑Based Payments – Allows staged fund releases tied to project completions (useful for freelancers and contractors). - Multi‑Party Transactions – Handles complex deals involving more than two parties.
The platform emphasizes compliance with Nigerian banking regulations and insurance coverage (claiming 96% insurance score on its about page). Key operational metrics advertised: Security 99.9%, Efficiency 98%, Reliability 97%, Insurance 96%.
Headquarters & Headcount:
- Current Headquarters: Lagos, Nigeria (inferred from the .ng TLD, LinkedIn location, and business context). No exact street address was found. - Headcount: Not publicly disclosed. LinkedIn shows only the company page but no team size. A reasonable estimate for a Nigerian fintech startup of this type is <50 employees (common for early‑stage escrow startups), but this is an inference, not a confirmed fact. Therefore, set to null.
Licensing & Compliance:
PayScrow states it works “with CBN licensed Deposit Money Banks and payment processors” (Products page). No specific license number was found.
Website: [https://payscrow.net](https://payscrow.net) (also [https://payscrow.in](https://payscrow.in) for India B2B)
Founding Year & Location: 2018, Lagos, Nigeria.
Key Products
Escrow Payment Invite
A shareable payment link that allows a seller to request payment from a buyer. Funds are held by Payscrow until the buyer confirms receipt of goods or services. Suitable for one-off transactions and freelancers.
B2B Escrow API
A programmable interface that lets online marketplaces, e-commerce platforms, and enterprise businesses integrate escrow capabilities directly into their own systems. Supports custom conditions, milestone payments, and multi-party deals.
General Escrow Service
The core service that secures payments for buying, selling, renting, and online payments. Acts as a neutral third party between two or more transacting parties.
B2B Escrow API Integration
A customizable API for businesses and marketplaces to integrate escrow services directly into their own platforms, scalable and tailored to varied transaction conditions.
Core Escrow Service
The underlying process of holding buyer funds and releasing them to sellers upon confirmation, described on the website as a five-step flow: terms agreement, buyer payment to Payscrow, seller delivery, buyer approval, and funds release.
Milestone‑Based Payments
A feature enabling staged fund releases tied to agreed deliverables, particularly useful for freelancers, contractors, and project‑based collaborations.
Multi‑Party Transaction Escrow
Facilitates escrow for deals involving more than two stakeholders, such as supply chains or joint ventures, where multiple approvals are needed before funds disburse.
Offices & Headcount
3 employees (approx.)