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About | NexevoPay
About
Nexevo Pay is the most secure DeFi platform built on blockchain technology with escrow smart contracts safeguarding both buyers and sellers.
The Problem
The irreversibility of Crypto transactions poses risk for buyers and sellers when using Crypto for payments. Over 46,000 people have lost money in Crypto fraud since the beginning of 2021 and our goal is to prevent payment fraud by providing a solution to safeguard buyers & sellers.
Our Solution
With our DeFi payment system, the tokens are transferred to a 3rd party smart contract called the escrow. The escrow holds the deposited tokens until the payment conditions are met. The parties involved in the transaction need to ensure that both the agreed product/service is delivered and payment is made. The buyer can define conditions for the smart contract such as Pay on Delivery / Pay Instantly / Pay after 7 Days / Milestone Payments. The tokens are released after the escrow smart contract conditions are met to ensure that the buyer gets the desired product/service and the seller gets the payment. In a situation where the buyer/seller disputes a transaction our dispute resolution team will intervene and validate the transaction manually.
Benefits
Trust and security – An escrow smart contract reduces the risk of fraud by acting as a neutral party.
Transparency – Operations are transparent as transactions are accessible to all blockchain participants.
Safety & Efficiency – We act as a middle man for dispute resolution and blockchain helps to reduce the transaction cost.
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