Business Idea: A secure online escrow platform designed to rebuild trust between buyers and sellers in Nigeria’s e-commerce space, ensuring safe transactions and reducing scams.
Problem: Many Nigerians are hesitant to buy or sell online due to frequent scams and a lack of trust in existing platforms, hampering e-commerce growth.
Solution: BiExpress offers an escrow service integrated into an app, holding payments securely until buyers confirm satisfaction, protecting both parties and fostering trust.
Target Audience: Nigerian online buyers and sellers, small business owners, informal traders, and individuals engaging in peer-to-peer transactions.
Monetization: Revenue generated through small escrow fees per transaction, premium features for merchants, or subscription plans for frequent users.
Unique Selling Proposition (USP): An innovative, trust-focused escrow system tailored specifically for Nigeria’s market dynamics, providing a safety net that traditional platforms lack.
Launch Strategy: Start with a simple mobile app MVP offering basic escrow services, target local online trading communities, and gather user feedback to refine trust features before expanding.
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