TradeSafe is a ‘middle-man’ to make online transactions secure

A LOCAL fintech company offers a way of securing online transactions by acting as a “middle-man” to ensure that both the seller and the buyer fulfil their obligations.

TradeSafe places a buyer’s funds in trust (known as “escrow” in legal circles) until the seller delivers what was promised. Only once the buyer is happy with the goods or services received, does TradeSafe release the funds to the seller.

After Jethro O’Brien, the co-founder of and chief executive of TradeSafe, was duped while trying to buy car parts online, his idea for TradeSafe was born.

O’Brien says: “We act as a buffer between a buyer and a seller. The funds are deposited with TradeSafe, in full while the two parties perform the transaction. Our system is totally transparent, and payments are tracked and visible to all parties.”

TradeSafe’s interface allows almost any business or individual easily to plug into TradeSafe’s escrow platform, making it suitable for commercial and retail transactions, as well as for services such as accommodation bookings.

TradeSafe supports crossborder transactions between South Africa and countries on the African continent, as well as international deals. The company is authorised as a third-party payment provider with the Payment Association of South Africa.