Carousell has recently launched its new online payment system, CarouPay. The e-commerce platform hopes this will reduce the number of fraud cases by allowing the payments to be frozen in the event of a dispute, such as when buyers do not receive their purchases from sellers. In such an instance, the new payment system will only unfreeze the money when both parties have come to a resolution. The system will also employ a form of artificial intelligence, as well as dedicated teams, to preemptively identify potentially fraudulent activities on the platform.
Written by Dillon Keshvani