Nigerian e-commerce buyers and sellers lose money to fraud in peer-to-peer transactions

Nigerian online shoppers and merchants face constant risk of payment fraud, non-delivery, and scams in peer-to-peer e-commerce transactions, particularly on WhatsApp and informal channels. Existing payment methods lack buyer/seller protection mechanisms, forcing both parties to operate on trust alone. Current banking and payment solutions are either too formal, expensive, or inaccessible for informal online traders.