PaySureFy Links Payments to Predetermined Conditions

PaySureFy combines escrow payment processes, identity verification, AI-powered fraud detection, milestone payments, transaction evidence, compliance checks, and dispute resolution within a single infrastructure. Transactions are completed after the conditions predetermined by the parties have been met.

The company does not operate as a digital wallet or bank that directly holds customer funds. Money transfer and settlement processes are managed by regulated banking and payment partners. PaySureFy is responsible for verifying transactions, enforcing escrow payment rules, conducting fraud checks, obtaining user approvals, and managing disputes. The system provides the trust layer that determines whether a transaction should proceed, be paused, be placed under review, or whether the payment should be released.

Artificial Intelligence Will Review Suspicious Transactions Before Completion

PaySureFy’s AI-powered fraud system was developed to detect suspicious transaction patterns, identity mismatches, and various risk indicators before a transaction is completed. Founder Mgbeoji Austin stated that buyers are concerned about fake sellers, while honest sellers are worried about fake payment notifications, fraudulent orders, and false claims.

Austin said that payment systems have become faster and more accessible, but trust infrastructure has not developed at the same pace. Stating that a transaction cannot be considered complete simply because money has been sent, Austin said that the parties must be verified, the agreement must be clear, and a protection mechanism must be available if a problem arises.

Sales Conducted Through Social Media Will Also Be Covered

The launch of PaySureFy comes at a time when shopping through social media channels such as Instagram, WhatsApp, Facebook, and TikTok has become increasingly widespread. The growth of commerce through these channels has also increased risks such as fake sellers, impersonation, fraudulent payment notifications, delivery problems, and payment disputes.

In addition to online shopping, the platform can be used for freelancer payments, contractor agreements, procurement processes, real estate transactions, and diaspora-funded projects. With milestone payment and partial fund-release features, payments can be made as specified stages of a project or service are completed.

API Support Will Be Offered to E-Commerce Platforms

PaySureFy also plans to offer API services under its “Trust-as-a-Service” model. This will allow marketplaces and e-commerce platforms to integrate escrow payments, identity verification, fraud monitoring, and dispute management features into their own systems. Workflows requiring the approval of multiple authorized individuals before a transaction is completed will also be offered to corporate and public-sector users.

To increase user access across Africa, language options are being prepared in Yoruba, Igbo, Hausa, Twi, Swahili, and French, as well as Mandarin and Spanish. While PaySureFy’s website, mobile web, and desktop browser versions have been launched, Android access is reportedly being rolled out gradually through the company’s website and will later be released on app stores. The development of PaySureFy began in 2020 during the COVID-19 period, when digital transactions accelerated.

Previously developed under the working names Paytrust Nigeria and Monieguard, the project adopted the PaySureFy brand in 2023 after its scope evolved from payment protection into a broader trust infrastructure.