Individuals and companies doing business with each other can struggle to estabilsh trust — not without good reason. Corruption and payment fraud are prevalent across Africa. 91% of SMEs in South Africa are impacted by late payments, and non-payment is commonplace in many personal transactions.
Truzo is a digitised escrow platform, enabling buyers and sellers to transact in a simple, safe and secure manner. They ensure buyers get what they’ve paid for, and that sellers and service providers get paid on delivery.
Truzo makes it possible to safely sell and buy products and services for an affordable fee, covering transactions that range from as little as R100 to R100 million or more. They also verify all parties involved, to reduce the risk of fraud.
Truzo is the only FSCA (Financial Sector Conduct Authority) and PASA (Payment Association of South Africa) registered escrow service provider in South Africa.
Truzo is looking to partner with financial services institutions.