AtaraPay | Buy and Sell Anywhere with Zero Risk

Frequently
Asked Questions

What is AtaraPay?
AtaraPay is an online service that allows Buyer make payment for goods and services to an escrow account instead of paying the Seller directly. At point of delivery, Buyer is required to inspect the service or item and accept or reject it. If Buyer rejects, the funds are refunded to the Buyer and if it is accepted, then the funds are paid to the Seller

What is escrow?
Escrow is an account which holds money in trust by a trusted 3rd party for both Buyer and Seller during a commercial transaction. AtaraPay is in partnership with Consolidated Hallmark Insurance (CHI) Plc acting as trusted 3rd party by insuring all funds paid into escrow for protection of both buyer and seller. AtaraPay is also in partnership with Central Bank of Nigeria (CBN) licensed banks to act as trusted 3rd parties.

When should I use AtaraPay?
  • When you are in a first-time business transaction and want to avoid the attendant uncertainty of service delivery.
  • When it's a short term transaction.
  • When it's a high value transaction.
  • When both buyer and seller are unfamiliar in the transaction.

How can Buyer use the AtaraPay service?
Buyer can use the service in two ways;

Who can create an escrow transaction?
Escrow transaction can be created by Buyer or Seller and both parties must agree to the created transaction before Buyer makes payment

How can I create a Person to Person (P2P) Escrow Transaction?
To get started, simply click here to register an account. Once you are successfully registered, login to your dashboard and click the Create P2P Transaction button located at the top right corner of your dashboard.

Am I charged any escrow fees for using AtaraPay?
Yes. When purchasing services online, Buyer is charged escrow fees of 1.5% of the product amount or a minimum of N500 or maximum of N2,000 per eCommerce transaction or maxiumum of N50,000 per P2P transaction.

However, during a Person to Person (P2P) escrow transaction, Seller and Buyer can be charged escrow based on agreement reached by both parties. Click here to use our simple fee calculator for more details on our pricing.

What happens after I make payment for the item into escrow?
Once you pay for the item, Buyer and Seller receive an email notification stating the amount paid and next steps to take to fulfil the service.
You are to follow these simple steps to complete your purchase:
  1. Upon successful delivery, you will get SMS and email notification to accept or reject the goods or service(s).
  2. To accept or reject, simply click on the link provided in the SMS or email notification.
  3. If you accept the goods or service(s), your funds will be released from escrow directly to the seller.
  4. If you reject, the seller will get a notification and is expected to re-complete the order a second time to enable the buyer accept or confirm that s/he is in possession of the goods or service(s). Upon confirmation, you will be refunded within 24 hours.

How do I accept or reject a service?
You can accept or reject a service/ item by responding to the message sent to you via email or SMS from your phone at point of delivery

Will I be able to keep the item for a couple of days to inspect the quality of the item before accepting or rejecting?
No. Buyer will be required to accept or reject from your phone at point of delivery or shortly after delivery, depending on the seller's instructions.

What happens if there is a disagreement between Buyer and Seller at point of delivery?
Buyer or Seller will be required to log a dispute from their AtaraPay account online. AtaraPay Dispute Managers will mediate and ensure a resolution is reached. Buyer and Seller are required to reach a mutual agreement for a dispute to be resolved

When I purchase an item and make payment to escrow, what happens to my money in escrow if Seller cancels the order or later informs me that the item is no more in stock?
If the seller cancels the order, buyer will be informed and refund made automatically to the account immediately. In addition, if Seller does not make delivery on orders placed via the eCommerce escrow service within 7 days of the order being placed, the Buyer’s funds will automatically be refunded as well.

What happens if Buyer cancels the order?
If Buyer cancels the order within the Seller’s maximum cancellation time stipulated by the Seller, then refund will be made to Buyer less payment switch fees (1.5% of the balance to be refunded). However, if Buyer cancels order beyond the maximum cancellation time (up to 24 hours as set by Seller), then Buyer shall be refunded less the logistics fee set by Seller which is up to 10% of the product sum or maximum of N5,000.00 and payment switch fees (1.5% of the balance to be refunded)

Why should I use AtaraPay?
AtaraPay provides 100% protection of your money because it ensures that goods that you purchase are the correct items since you have the opportunity to inspect the item at point of delivery to accept or reject service before the seller is credited. You also have the comfort of knowing that your money in escrow is kept in trust and fully insured by Consolidated Hallmark Insurance (CHI) PLC so that you do not experience any loss of funds due to bad or fraudulent service.

In what ways can I make payment into escrow while using the AtaraPay service?
Buyer can make payment using any of the following options;
  • Card
  • USSD
  • Bank Transfer

What currencies are supported by AtaraPay?
The service supports dollar (USD) and Naira (NGN) currencies. In addition, payment can be made with Naira debit/ credit cards and all Eurocards, MasterCard and VISA cards.

What is AtaraPay?
AtaraPay is an online service that allows Buyer make payment for goods and services to an escrow account instead of paying the Seller directly. At point of delivery, Buyer is required to inspect the service or item and accept or reject it. If Buyer rejects, the funds are refunded to the Buyer and if it is accepted, then the funds are paid to the Seller

What is escrow?
Escrow is an account which holds money in trust by a trusted 3rd party for both Buyer and Seller during a commercial transaction. AtaraPay is in partnership with Consolidated Hallmark Insurance (CHI) Plc acting as trusted 3rd party by insuring all funds paid into escrow for protection of both buyer and seller. AtaraPay is also in partnership with Central Bank of Nigeria (CBN) licensed banks to act as trusted 3rd parties.

When should I use AtaraPay?
  • When you are in a first-time business transaction and want to avoid the attendant uncertainty of service delivery.
  • When it's a short term transaction.
  • When it's a high value transaction.
  • When both buyer and seller are unfamiliar in the transaction.

How can Seller use the AtaraPay service?
Seller can use the service in three ways;

Who can create an escrow transaction?
Escrow transaction can be created by Buyer or Seller and both parties must agree to the created transaction before Buyer makes payment

How can I create a Person to Person (P2P) Escrow Transaction?
To get started, simply click here to register an account. Once you are successfully registered, login to your dashboard and click the Create P2P Transaction button located at the top right corner of your dashboard.

What additional information does Seller require to go live?
Seller (Individual and Business) requires the following information to go live with AtaraPay;
  1. Any government approved photo ID (passport data page, voters’ card or National ID)
  2. Company documents (For businesses only)

Am I charged any escrow fees for using AtaraPay?
It depends. During a Person to Person (P2P) escrow transaction, Seller and Buyer can be charged escrow based on agreement reached by both parties. Click here to use our simple fee calculator for more details on our pricing.

What happens after Buyer makes payment for the item into escrow?
Once Buyer pays for the item, Seller receives an email notification stating the amount paid and next steps to take to fulfil the service.
Summary of the steps you are to follow are below;
  1. Upon successful delivery of goods or service(s) to buyer or recipient, login to your account, go to Orders, locate the order and click on the Delivery Completed link to indicate that delivery is complete.
  2. Please confirm with buyer that goods or service(s) are OK before carrying out this task.
  3. If buyer accepts, the funds will be released from escrow directly to your account
  4. If buyer rejects, you will be notified and expected to re-complete the order a second time to enable buyer accept or confirm that you are in possession of the goods or service(s). Upon confirmation, the buyer will be refunded.
  5. If you do not confirm possession after 24 hours, the buyer’s funds will be refunded

What happens if Buyer cancels an order shortly after placing the order?
The AtaraPay service allows the Seller to set a maximum allowable period within which Buyer can cancel an order and a logistics fee (not more than 10% of the product amount) will be deducted from the Buyer’s funds if Buyer cancels beyond this maximum allowed period. This function is optional for use by the seller and is entirely configurable by the seller. Buyer is duly informed of this fee before allowed to make payment into escrow

What happens if buyer rejects the item?
Once Buyer rejects the item, the seller is required to re-complete the order a second time to enable buyer accept or confirm that s/he is possession of the item(s) before Buyer can be refunded

What happens if there is a disagreement between Buyer and Seller at point of delivery?
When the seller confirms that the returned goods are not in good condition, then seller will be required to raise dispute from their AtaraPay account online. An AtaraPay Dispute Manager will mediate and ensure a resolution is reached fairly. Buyer and Seller are required to reach a mutual agreement for a dispute to be resolved

What happens if the buyer really did receive the item but fraudlently claims s/he did not ?
Before delivery is processed, the buyer has to agree to the transaction you raised and make payment, which is safely secured in escrow. If such a scenario occurs, we have our dispute section where you can raise issues related to a transaction, which will be swiftly investigated and resolved amicably by our able dispute managers. Note however that as a seller, you should ensure you have proof of delivery.

Why should I use AtaraPay?
AtaraPay encourages you to swiftly arrange for fulfment knowing that payment has already been made by the buyer, kept in trust for you in the escrow account and fully insured by Consolidated Hallmark Insurance (CHI) PLC. AtaraPay also protects your business by allowing you set a maximum cancellation period and earn logistics fee if orders are cancelled beyond the cancellation period set by you.

What payment methods exist on AtaraPay to enable payment for my goods and services?
AtaraPay supports the following payment methods;
  • Card
  • USSD
  • Bank Transfer

What currencies are supported by AtaraPay?
The service supports dollar (USD) and Naira (NGN) currencies. In addition, payment can be made with Naira debit/ credit cards and all Eurocards, MasterCard and VISA cards.

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