Seeking to address some of these challenges, Nigerian technology entrepreneur Mgbeoji Austin has launched PaySureFy, a platform designed to provide escrow-based transaction protection and fraud intelligence for cross-border commerce.
The company describes PaySureFy as Africa’s first AI-powered cross-border escrow and Trust Infrastructure, combining identity verification, escrow workflows, fraud detection and dispute management within a single technology platform.
PaySureFy said its system is designed to enable individuals, businesses and organisations to conduct transactions with greater confidence, particularly where buyers and sellers may be operating in different locations or jurisdictions.
Unlike conventional payment platforms that may directly hold and manage customer funds, PaySureFy operates a non-custodial model. Under the arrangement, payments are processed and settled through licensed banking and payment partners, while the company provides the technology layer responsible for transaction conditions, verification, authorisation and dispute-resolution processes.
Austin said the platform was developed against the backdrop of increasing digital payments across Africa and the need to build stronger mechanisms for trust between parties who may have limited knowledge of one another.
“Africa has made significant progress in digital payments, but payment speed alone does not solve fraud. The next challenge is ensuring the people involved can be verified, transaction conditions are trusted and disputes can be resolved fairly,” he said.
According to the company, PaySureFy combines several functions, including identity verification, milestone-based escrow payments, AI-assisted fraud analysis, multilingual support and structured dispute resolution.
The platform is targeted at a broad range of users, including online marketplaces, freelancers, merchants, procurement agents, businesses and members of the diaspora who frequently engage in transactions across borders.
Industry analysts have increasingly pointed to trust as a major factor limiting the wider adoption of digital commerce in Africa. While payment infrastructure has expanded considerably, transactions involving unfamiliar parties, different currencies and multiple jurisdictions can expose buyers and sellers to additional risks.
From Pandemic Challenge to Commercial Platform
Austin said the idea for PaySureFy emerged in 2020 during the COVID-19 pandemic, when lockdowns and the rapid adoption of remote work accelerated the shift towards digital transactions.
He explained that what initially focused on secure payments eventually developed into a broader attempt to address trust throughout the entire commercial transaction process.
“The question eventually became bigger than making payments safer. Before money moves, the people involved, the transaction itself, the risks and the agreed conditions should all be trusted.”
Under the platform’s model, users can establish and agree on transaction terms before payment is made. The eventual release or refund of funds is then based on the agreed conditions, supported where necessary by identity authentication and transaction evidence.
In cases where a dispute occurs, the parties involved can submit evidence for review before settlement instructions are issued through the platform’s regulated financial partners.
AI Deployment to Detect Fraud Risks
PaySureFy is also deploying artificial intelligence to identify potential indicators of fraudulent activity before transactions are completed.
The company said its system can analyse factors such as unusual transaction behaviour, inconsistencies in identity information, suspicious device activity and possible attempts to move transactions away from the platform.
Austin, however, stressed that AI would not replace human decision-making but would instead serve as a tool for identifying risks and supporting transaction reviews.
“Fraud usually leaves detectable signals. AI can help identify those signals earlier, support review and help users make more informed decisions.”
The company said the approach is intended to provide an additional layer of protection for users while allowing potentially risky transactions to receive closer scrutiny before funds are released.
Multilingual Support, Enterprise Expansion
PaySureFy has also introduced multilingual capabilities as part of its effort to reach users across different African and international markets.
The company said language support is being introduced across Yoruba, Hausa, Igbo, Swahili, Twi, French, Mandarin and Spanish, with the aim of reducing language barriers and improving accessibility for users conducting transactions across different regions.
Beyond individual consumers and businesses, the company is developing a Trust-as-a-Service offering that would allow marketplaces, digital platforms and institutions to integrate selected PaySureFy capabilities into their own systems.
Through application programming interfaces (APIs), businesses would be able to integrate services such as escrow workflows, identity verification and dispute-resolution functions into their existing platforms.
The company has also announced the appointment of Adeleye Raymond as Co-founder and Chief Financial Officer. Raymond is expected to oversee financial strategy, internal controls, compliance readiness and banking relationships as PaySureFy expands its operations.
Austin acknowledged that building a trusted digital transaction ecosystem would require more than technological innovation, pointing to the importance of financial governance and operational standards.
“Trust is not only a technology issue; it also requires sound financial controls, compliance and operational discipline.”
PaySureFy said it is targeting users in social commerce, freelance marketplaces, procurement services, small businesses and diaspora communities, particularly those involved in transactions spanning multiple jurisdictions.
As Africa’s digital economy continues to expand, the emergence of platforms that combine payment protection with identity verification, fraud detection and dispute resolution could become increasingly important in addressing trust-related challenges.
For businesses and consumers operating in markets where transactions often take place between parties who have never met physically, the ability to verify identities, establish clear conditions and provide structured mechanisms for resolving disputes could become a key component of the continent’s evolving digital commerce infrastructure.