eScrow: eSewa's New Security Measure for Online Transactions

Digital platforms have significantly transformed our daily routines, making tasks more convenient. However, using these platforms also entails certain risks, particularly concerning financial transactions. To mitigate these risks, e-sewa has launched a new service called eScrow, providing users with a secure way to safeguard their funds during transactions.

The eScrow facility functions as a neutral third party in online transactions, ensuring the safe exchange of funds between buyers and sellers. This minimizes potential risks and fosters a secure environment for digital transactions. Users can utilize this feature through e-sewa's 'Send Money' option, enabling them to securely transfer funds to another e-sewa wallet.

When a user initiates a transaction, the amount sent can be held in their account until the recipient fulfills their obligations. For instance, in an online shopping scenario where trust is lacking, the amount sent remains in the sender's account until they receive the purchased material. This feature aims to provide assurance and security to both parties involved in the transaction, reducing the risk of fraud or deception.

To access the eScrow facility, users need to follow a few simple steps outlined within the eSewa app. Additionally, users have the option to file a complaint in case of disputes or discrepancies in transactions. The service incurs nominal fees, with charges varying based on the transaction amount. Overall, the eScrow facility offered by e-sewa addresses the growing concerns of online transaction security and aims to enhance user confidence in digital financial transactions.