Ghanaian fintech startup KudiGo has introduced VerifiBuy, a social commerce platform, to boost trust in buying and selling on social media.
KudiGo, established in November 2018, is known for its mobile-based retail system aiding businesses in Ghana and Nigeria with payments, inventory tracking, and financial modeling.
VerifiBuy, the latest offering, addresses the trust issue in online transactions, particularly on African social media platforms.
It ensures secure transactions by holding funds in escrow until delivery confirmation, minimising fraud risk to zero percent for sellers. Buyers also benefit from a 100 percent refund guarantee.
KudiGo CEO Kingsley Abrokwah highlighted the platform’s success during the pilot phase, with over 50 merchants processing $40,000 in transactions over three months.