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 Merchant 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 Merchant

What is escrow?
Escrow is an account which holds money in trust by a trusted 3rd party for both Buyer and Merchant 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 Merchant 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 transaction.

However, during a Person to Person (P2P) escrow transaction, Merchant 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 Buyer pays for the item, Buyer receives an order code while Merchant is notified of payment and is expected to make delivery to Buyer within the stipulated time frame. At time of delivery, Buyer shares the order code to the delivery personnel who submits the code via our mobile app. Buyer is then requested to accept or reject the item. On acceptance, Merchant is paid and on rejection, Buyer is refunded

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

What happens if there is a disagreement between Buyer and Merchant at point of delivery?
Buyer or Merchant 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 Merchant 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 Merchant cancels the order or later informs me that the item is no more in stock?
To cancel an order, seller is required to send email to support@atarapay.com, requesting for cancellation. Once order is confirmed cancelled by AtaraPay support agent, refund will be made to Buyer’s account immediately. In addition, if Merchant does not make delivery within 90 days of the order being placed, the Buyer’s funds will automatically be refunded

What happens if Buyer cancels the order?
If Buyer cancels the order within the Merchant’s maximum cancellation time stipulated by the Merchant, 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 Merchant), then Buyer shall be refunded less the logistics fee set by Merchant 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 merchant 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
  • Cash
  • Bank Transfer

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 Merchant 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 Merchant

What is escrow?
Escrow is an account which holds money in trust by a trusted 3rd party for both Buyer and Merchant 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 Merchant use the AtaraPay service?
Merchant can use the service in three ways;

Who can create an escrow transaction?
Escrow transaction can be created by Buyer or Merchant 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 Merchant require to go live?
Merchant (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, Merchant 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, Merchant receives an email notification stating the amount paid and next steps to take to fulfil the service.
Summary of the steps are below;
  1. Merchant assigns the order to a delivery personnel from the dashboard of their account.
  2. At point of delivery, Buyer shares the order code to the Delivery Personnel
  3. Delivery personnel clicks on the link https://dm.atarapay.com found in the notification sent to submit the code online
  4. On successful submission, Buyer is then requested to accept or reject the item. On acceptance, Merchant is paid and on rejection, Buyer is refunded.

How does the dispatch rider from the Merchant use the service at point of delivery?
Once the Merchant assigns the order to the Delivery Personnel, the personnel and Buyer or Recipient shall be notified via email and SMS of the details of the order. When the Buyer/ Recipient shares the order code, the Delivery Personnel follows the steps highlighted in the previous section of this FAQ.

What happens if Buyer cancels an order shortly after placing the order?
The AtaraPay service allows the Merchant 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 Merchant and is entirely configurable by Merchant. 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, Delivery Personnel is required to 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 Delivery Personnel at point of delivery?
Buyer or Merchant will be required to log a dispute from their AtaraPay account online. A AtaraPay Dispute Manager will mediate and ensure a resolution is reached. Buyer and Merchant are required to reach a mutual agreement for a dispute to be resolved

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
  • Cash
  • Bank Transfer

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