Frequently
Asked Questions
What is AtaraPay?
AtaraPay is an online service that allows the buyer make payment for goods and services to an escrow account instead of paying the Merchant directly. At point of delivery, Buyer is required to inspect the service or item and accept or reject it. If Buyer rejects, the funds are refunded to the Buyer and if it is accepted, then the funds are paid to the Merchant
What is escrow?
Escrow is an account which holds money in trust by a trusted 3rd party for both the buyer and seller during a commercial transaction. AtaraPay is in partnership with Consolidated Hallmark Insurance (CHI) Plc acting as trusted 3rd party by insuring all funds paid into escrow for protection of both buyer and seller. AtaraPay is also in partnership with Central Bank of Nigeria (CBN) licensed banks to act as trusted 3rd parties.
When should I use AtaraPay?
- When you are in a first-time business transaction and want to avoid the attendant uncertainty of service delivery.
- When it's a short term transaction.
- When it's a high value transaction.
- When both the buyer and seller are unfamiliar in the transaction.
How can the buyer use the AtaraPay service?
The buyer can use the service in two ways;
- By purchasing goods and services online at any of our partner merchant websites or at the Marketplace by AtaraPay located at https://atara.ng. At checkout, just select “AtaraPay” as the payment option and make payment.
- By signing up and creating an escrow transaction during an offline transaction. This is done by creating a Person to Person (P2P) transaction. For example, if you want to buy a pair of shoes from anyone who sells via social media like Instagram or Facebook, you can create an escrow account and once both parties agree, Buyer makes payment for the item. The payment will be held in trust by CHI Plc and our partner bank until Buyer sees the item to accept or reject it at point of delivery. To get started, click here to register an account.
Who can create an escrow transaction?
Escrow transaction can be created by the buyer or Seller and both parties must agree to the created transaction before the buyer makes payment
How can I create a Person to Person (P2P) Escrow Transaction?
To get started, simply click here to register an account. Once you are successfully registered, login to your dashboard and click the Create P2P Transaction button located at the top right corner of your dashboard.
Am I charged any escrow fees for using AtaraPay?
Yes. When purchasing services online, the buyer is charged escrow fees of 1.5% of the product amount or a minimum of N500 or maximum of N2,000 per transaction.
However, during a Person to Person (P2P) escrow transaction, the seller and buyer can be charged escrow based on agreement reached by both parties. Click here to use our simple fee calculator for more details on our pricing.
However, during a Person to Person (P2P) escrow transaction, the seller and buyer can be charged escrow based on agreement reached by both parties. Click here to use our simple fee calculator for more details on our pricing.
What happens after I make payment for the item into escrow?
Once the buyer pays into escrow for the item, the seller is notified of payment and is expected to make delivery to the buyer within the stipulated time frame. Once the item is delivered, the seller logs into the account to complete delivery. The buyer is then sent SMS and email requesting to accept or reject the item. On acceptance, the seller is paid and on rejection, the buyer is refunded, after the seller confirms that the product or service is in good condition.
How do I accept or reject a service?
You can accept or reject a service/ item by responding to the message sent to you via email or SMS from your phone, after delivery.
Will I be able to keep the item for a couple of days to inspect the quality of the item before accepting or rejecting?
No. The buyer will be required to accept or reject the delivery within 48 hours of receipt, failing which the seller will be credited.
What happens if there is a disagreement between the buyer and seller after delivery?
The seller or buyer can agree to a second delivery attempt or the seller may decide to log a dispute from their AtaraPay account. AtaraPay Dispute Managers will mediate and ensure a resolution is reached. The buyer and seller are required to reach a mutual agreement for a dispute to be resolved
When I purchase an item and make payment to escrow, what happens to my money in escrow if the seller cancels the order or later informs me that the item is no more in stock?
You will be refunded.
What happens if the buyer cancels the order?
If the buyer cancels the order within the seller’s maximum cancellation time stipulated by the seller, then refund will be made to the buyer less payment switch fees. However, if the buyer cancels the order beyond the maximum cancellation time (up to 24 hours) as set by the seller, then the buyer shall be refunded less the logistics fee set by the seller which is up to 10% of the product sum or maximum of N5,000.00 and payment switch fees.
Why should I use AtaraPay?
AtaraPay provides 100% protection of your money because it ensures that goods that you purchase are the correct items since you have the opportunity to inspect the item at point of delivery ensuring that you can accept or reject service before the seller is credited
In what ways can I make payment into escrow while using the AtaraPay service?
The buyer can make payment using any of the following options;
- Card
- Bank Transfer
What currencies are supported on the AtaraPay service?
The buyer can make payment for goods and services in any currency.
What is AtaraPay?
AtaraPay is an online service that allows the buyer make payment for goods and services to an escrow account instead of paying the seller directly. At point of delivery, the buyer is required to inspect the service or item and accept or reject it. If the buyer rejects, the funds are refunded to the buyer and if it is accepted, then the funds are paid to the Merchant
What is escrow?
Escrow is an account which holds money in trust by a trusted 3rd party for both the buyer and seller during a commercial transaction. AtaraPay is in partnership with Consolidated Hallmark Insurance (CHI) Plc acting as trusted 3rd party by insuring all funds paid into escrow for protection of both the buyer and seller. AtaraPay is also in partnership with Central Bank of Nigeria (CBN) licensed banks to act as trusted 3rd parties.
When should I use AtaraPay?
- When you are in a first-time business transaction and want to avoid the attendant uncertainty of service delivery.
- When it's a short term transaction.
- When it's a high value transaction.
- When both the buyer and seller are unfamiliar in the transaction.
How can the seller use the AtaraPay service?
The seller can use the service in three ways;
- By enabling the AtaraPay payment option on your website using our simple payment plugin. At checkout, the buyer selects “AtaraPay” as the payment option to make payment.Access our plugins for Magento 2, WooCommerce and Shopify at https://plugins.atarapay.com
- By selling goods and services online at the Marketplace by AtaraPay located at https://atara.ng. AtaraPay is the exclusive payment method on the marketplace.
- By signing up and creating an escrow transaction during an offline transaction. This is done by creating a Person to Person (P2P) transaction. For example, if you want to sell a pair of shoes to anyone who wants to buy via social media like Instagram or Facebook, you can create an escrow account and once both parties agree, Buyer makes payment for the item or service. The payment will be held in trust by CHI Plc and our partner bank until Buyer sees the item to accept or reject it at point of delivery. To get started, click here to register an account.
Who can create an escrow transaction?
Escrow transaction can be created by the buyer or seller and both parties must agree to the created transaction before the buyer makes payment
How can I create a Person to Person (P2P) Escrow Transaction?
To get started, simply click here to register an account. Once you are successfully registered, login to your dashboard and click the Create P2P Transaction button located at the top right corner of your dashboard.
What additional information does seller require to go live?
The seller (Individual and Business) requires the following information to go live with AtaraPay;
- Any government approved photo ID (passport data page, voters’ card or National ID)
- Company documents (For businesses only)
Am I charged any escrow fees for using AtaraPay?
It depends. During a Person to Person (P2P) escrow transaction, the seller and buyer can be charged escrow based on agreement reached by both parties. Click here to use our simple fee calculator for more details on our pricing.
What happens after the buyer makes payment for the item into escrow?
Once the buyer pays into escrow for the item, the seller is notified of payment and is expected to make delivery to the buyer within the stipulated time frame. Once the item is delivered, the seller logs into the account to complete delivery. The buyer is then sent SMS and email requesting to accept or reject the item. On acceptance, the seller is paid and on rejection, the buyer is refunded, after the seller confirms that the product or service is in good condition.
What happens if the buyer cancels an order shortly after placing the order?
The AtaraPay service allows the seller to set a maximum allowable period within which the buyer can cancel an order. However, a logistics fee (not more than 10% of the product amount) will be deducted from the buyer’s funds if s/he cancels beyond the maximum allowed period set by the seller. This function is optional for use by the seller. The buyer is duly informed of this fee at point of payment into escrow
What happens if the buyer rejects the item?
The seller or buyer can agree to a second delivery attempt, accept the rejection or reject it. If the seller accepted the rejection, then the buyer will b refunded. However, if the seller rejects the rejection then the seller is required to raise a dispute. The AtaraPay Dispute Managers will mediate and ensure a resolution is reached. The buyer and seller are required to reach a mutual agreement for a dispute to be resolved
Why should I use AtaraPay?
AtaraPay encourages you to deliver service knowing that payment has been made already for the service and kept in trust for you in the escrow account. AtaraPay also protects your business by allowing you set a maximum cancellation period and earn logistics fee if orders are cancelled beyond the cancellation period set by you.
What payment methods exist on AtaraPay to enable payment for my goods and services?
AtaraPay supports the following payment methods;
- Card
- Bank Transfer
What currencies are supported on the AtaraPay service?
The buyer can make payment for goods and services in any currency.
Can a seller receive payment in other currencies apart from Naira?
Yes. All you need to do is to provide us your Payoneer, CashApp, PayPal or Wise ID. You can receive payment in USD and withdraw to your local currency.
Find below steps to follow to receive payout in other currencies except Naira;
Find below steps to follow to receive payout in other currencies except Naira;
- Carry out the escrow transaction as normal
- Once the buyer accepts the service, you will be paid to your Payoneer, CashApp, Wise or PayPal ID
- You will be required to send your ID to support@atarapay.com
- Once we make payment to the provided ID, the money can then be withdrawn from the platform to your local bank account currency
- You will bear the Payoneer, Wise, PayPal or CashApp transfer fees
- We would payout the USD value computed by our platform to your default ID
- You may then choose to withdraw from your Payoneer, Wise, PayPal or CashApp account to your local currency
- Your website transactions using AtaraPay API or plug-in must be in any non-NGN currency like GBP, USD, etc.
- Your AtaraPay P2P transactions must be in USD
- It is your responsibility to communicate the terms above to your service provider (if they choose to receive payout in USD)