Escrow functionality

Budget : na

Type of source code :

API, Website

Goals and context :

The app will serve as a 3rd party fund custodian for a pending transaction between a buyer and seller, particularly those who don't know each other and conducting the transaction online. This will assure the seller that the buyer has ready funds, while the buyer is assured that the money will not be forwarded to the seller prior to the delivery of the product or service.

Usage :

Think of FB Marketplace. Once the buyer and seller agrees to use the app, the transaction, including the parameters (ie who shoulders delivery cost, quality, etc) can be conducted inside the app.

Desired features :

Administrator website, Messaging system, Push Notifications system, Social Integrations, Analytics

Features Details :

Either buyer or seller can initiate the use of the app thru a link. For registration, name and number are initially enough, then OTP to verify cell number The seller submits the following details: Pictures Description Price Delivery c/o (outside the platform) Buyer submits the following details: Quantity Pay total price via integrated mobile wallet Buyer will pay total amount, and system will keep it inside its own wallet prior to execution and acceptance of order

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