In the ever-evolving landscape of technology, agriculture, and logistics, one name stands out as a serial entrepreneur making waves across industries – John Akpetimeh Miracle. With a diverse portfolio spanning the tech, agro, and logistics sectors, John Akpetimeh Miracle has been at the forefront of innovation and disruption. Today, we have the privilege of delving into his journey and learning about his latest venture, “Paysequr,” a groundbreaking fintech product set to transform the way we conduct transactions.
As the founder of JAM-Forte Technologies, a trailblazing software development company established in 2018, John Akpetimeh Miracle has been steering the ship of innovation from its operational base in Abuja, Nigeria. Now, he’s set to unveil his latest brainchild – “Paysequr.” This innovative fintech solution is poised to redefine the shopping experience for both consumers and merchants alike.
At the heart of “Paysequr” lies an ingenious escrow service, revolutionizing the transaction process. With this cutting-edge approach, shoppers have the peace of mind that they will only part with their funds once they have received and verified the product to be exactly as expected. This game-changing concept ensures that customers are in control and can trust their transactions like never before.
In this exclusive interview, we will dive deep into John Akpetimeh Miracle’s entrepreneurial journey, exploring his motivations, challenges, and triumphs. We’ll uncover the driving force behind JAM-Forte Technologies and gain insights into how “Paysequr” is poised to reshape the fintech landscape. Join us as we uncover the vision, innovation, and dedication that have propelled John Akpetimeh Miracle to the forefront of the tech, agro, and logistics industries, and get a sneak peek into the exciting future that “Paysequr” holds for shoppers and merchants worldwide.
Below is a comprehensive interview with the founder:
Can you give us an overview of JAM-Forte Technologies and the inspiration behind itsfounding in 2018?
JAM-Forte Technologies was established in 2018 as a dynamic software development companybased in Abuja, Nigeria. We provide a range of software solutions and services such as web andmobile application development, software testing, IT consulting, product design anddevelopment, hardware systems installation, hardware procurement, and softwaredevelopment training. Our inspiration for founding the company was to bridge thetechnological gap by providing innovative and affordable software solutions that address realworld challenges, for all scales of businesses, government and individuals.. Our team recognizedthe potential to harness technology to drive positive change across various industries, and thisvision continues to guide our endeavors.
What motivated your team to create Paysequr, a fintech product that focuses onrevolutionizing transactions between shoppers and merchants?
The motivation behind creating Paysequr stemmed from the desire to reshape the waytransactions are conducted in the digital age, especially with the wide adoption of ecommercein Africa, and the downside that comes with shopping online such as scam, fraud, and sale oflow quality products for the same price as the original. Our team saw an opportunity to addressthe trust deficit in online shopping and payments. We aimed to empower both consumers andmerchants by introducing a secure and transparent escrow payment system that ensures fairtransactions and boosts confidence in the online shopping experience.
Could you explain how Paysequr’s escrow service works and how it aims to enhance theshopping experience for both consumers and merchants?
Paysequr’s escrow service acts as a neutral intermediary in transactions. When a shopper wantsto makes a purchase for an item, he sends a buy request to the merchant through the merchantunique ID and a transaction is created upon confirmation from the merchant, then the shopper(buyer) makes payment to the merchant which is held securely in escrow. Once the consumerreceives the product and confirms its quality, the payment is released to the merchant. Thisprocess enhances the shopping experience by fostering trust, reducing disputes, and ensuringthat shoppers receive what they pay for. Merchants also benefit from assured payments uponsuccessful delivery.
What challenges or pain points in the traditional payment process led to the developmentof Paysequr’s unique escrow service?
The traditional payment process often lacked transparency and left both consumers andmerchants vulnerable to fraud and disputes. Paysequr’s escrow service was designed tomitigate these challenges by providing a secure and accountable payment process. Thisinnovation addresses issues of trust, delayed payments, and potential dissatisfaction, thusenhancing the overall transaction experience.
How does Paysequr ensure a secure and trustworthy platform for both shoppers andmerchants to transact using the escrow service?
Paysequr employs robust security protocols and encryption measures to safeguard sensitiveinformation. Our platform verifies merchants and ensures compliance with industry standardsand KYC requirement by the Central Bank of Nigeria. Additionally, our escrow service is designedto prevent unauthorized access to funds, and our transparent transaction tracking systemprovides visibility into the process for both shoppers and merchants. Lastly, all transactions areprocessed through our partner bank (VFD Microfinance bank), so all customers are issued aunique VFD bank account number upon completing their KYC Verification.
Can you walk us through the step-by-step process of how a typical transaction occursusing Paysequr’s escrow service?
A typical transaction on Paysequr involves:
- The consumer send a payment request to a merchant and makes the payment.
- Paysequr holds the payment securely in escrow.
- The merchant ships the product to the consumer through our logistics partner (GIGLogistics)
- Once the consumer receives and verifies the product’s quality, they confirm the transaction.
- Paysequr releases the payment to the merchant.
In what ways does Paysequr contribute to reducing instances of fraud and ensuring thatshoppers receive the products they ordered?
Paysequr’s escrow service reduces fraud by ensuring that funds are held securely until theshopper confirms the product’s quality. This prevents instances where consumers pay but don’treceive products as described. Merchants also benefit from verified payments, reducing the riskof chargebacks.
What types of industries or businesses do you envision benefiting the most fromintegrating Paysequr’s escrow service into their payment processes?
Paysequr’s escrow service is versatile and can benefit a wide range of industries including ecommerce, electronics, fashion, and more. Any industry where trust and transparenttransactions are paramount can benefit from our solution.
Paysequr’s concept of “pay on delivery” through escrow is innovative. How has theresponse been from both consumers and merchants so far?**
We are yet to launch; however we have a pre-launch community with great feedbacks
Could you share any success stories or testimonials from users of Paysequr who haveexperienced the benefits of the escrow service firsthand?
It’s not launched yet
How does Paysequr handle disputes that may arise between shoppers and merchantsregarding the quality or delivery of products?
Paysequr employs a dispute resolution process where both parties can present their cases andevidence. Our team mediates and ensures a fair resolution. If disputes persist, funds held inescrow can be returned to the consumer per our terms and conditions.
What technologies or strategies does Paysequr employ to ensure seamless and efficientpayment processing and product verification?
Paysequr utilizes cutting-edge encryption and secure payment through our partner bank (VFDMicrofinance Bank).
As a software development company, how do you keep the Paysequr platform up to datewith the latest security measures and technological advancements?
We have a dedicated team that continuously monitors security trends and updates. Regularsoftware updates, security audits, and collaboration with industry experts ensure that ourplatform remains at the forefront of security and technology.
What are some of the future developments or features that Paysequr is planning tointroduce to further enhance the shopping and payment experience?
We’re excited about expanding our partnerships, improving user interfaces, and integratingemerging payment technologies. Additionally, we’re exploring options for loyalty programs andvalue-added services for both consumers and merchants, and hopefully migrating into a fullpayment service provider.
Paysequr’s headquarters is in Abuja, Nigeria. Are there plans to expand your services toother regions or countries in the future?
Yes, we have ambitious plans to expand our services to other regions and countries. Our goal isto bring the benefits of secure escrow transactions to a global audience.
In the rapidly evolving fintech landscape, how does Paysequr plan to remain competitiveand continue providing value to users?
Paysequr is committed to staying ahead through continuous innovation. We will actively listento user feedback, adapt to changing technologies, and remain focused on enhancing thesecurity, trust, and convenience of our platform.
Collaboration with merchants is crucial for the success of Paysequr. How do you engageand onboard new merchants onto your platform?
We collaborate with merchant associations, industry events, and digital marketing to reachpotential partners. Our onboarding process is user-friendly, with dedicated support to helpmerchants integrate Paysequr into their business processes.
Are there any partnerships or integrations with other fintech or e-commerce platformsthat Paysequr is exploring to extend its reach?
Yes, we’re actively exploring collaborations with complementary fintech and e-commerceplatforms. These partnerships will enhance the ecosystem and offer users even more seamlessexperiences. Currently we are partners with VFD Microfinance bank, GIG Logistics.
What advice would you give to other fintech startups looking to disrupt traditionalpayment systems and introduce innovative solutions?
Embrace a customer-centric approach and build trust through transparency. Listen to userfeedback, iterate quickly, and ensure that your solution addresses a real pain point in themarket.
In conclusion, could you share your vision for the future impact of Paysequr on the waytransactions are conducted between shoppers and merchants?
Our vision for the future impact of Paysequr is to revolutionize the landscape of transactionsbetween shoppers and merchants. We envision a world where online transactions aresynonymous with trust, transparency, and convenience. Paysequr’s escrow service will becomethe gold standard for secure and fair transactions, setting a new precedent for e-commerceand digital payments. We foresee a significant reduction in disputes and instances of fraud,creating a safer environment for both consumers and merchants. This, in turn, will boost consumer confidence in online shopping, leading to increased sales and business growth for merchants.
As Paysequr continues to evolve, we will introduce cutting-edge technologies andfeatures that enhance the user experience even further. Our platform will adapt to emergingpayment methods and integrate seamlessly with other fintech and e-commerce solutions,making it an integral part of the digital economy. Ultimately, we aim to reshape the globalperception of online transactions, making Paysequr a household name synonymous withsecure, transparent, and trustworthy commerce. By doing so, we aspire to foster economicgrowth, empower small and medium-sized businesses, and transform the way people shopand conduct business worldwide. Our commitment to innovation, user satisfaction, and theadvancement of secure transactions will remain unwavering as we continue on thistransformative journey
