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FPAI Member Story: Trustap

Trustap is a secure transaction platform that completely protects you from being scammed when you want to buy or sell with someone you don't know.

Every transaction represents an agreement between a buyer and a seller to exchange goods or a service for payment.

 

Powered by Stripe’s secure payment technology, Trustap secures the buyer’s money in a safe hold account until all the transaction milestones are met and the complaints period elapses. The money is then instantly released to the seller.

 

Unique, flexible and low-cost, Trustap is compatible across all platforms. Whether you’re using a laptop, a phone or a tablet, you can use Trustap to transact with complete peace of mind.


Since being founded in 2016, ID-Pal’s vision and strategy has remained consistent with its guiding principle of delivering a simple, secure and convenient identity verification solution that enables businesses to ensure that their customers are exactly who they say they are.

Conor Lyden (CEO), Trustap

“Trustap came about because of some problems I encountered personally when I was in college. The first problem occurred when attending Liverpool matches in the UK. I’d have my whole trip planned but always faced the risky task of trying to get 2nd hand tickets online” says our CEO and Founder, Conor Lyden. “I kept finding the same obstacles in my way. The seller would say “Sure, the tickets are still available, but you’ll have to send me the money first, then I’ll post you the tickets”. Regardless of whether the scam took place or not, it was always a terrible experience.”

“The second problem happened when I went to sell my Grandad’s car for him on DoneDeal. I had to meet someone in a dark carpark, who handed me over a wad of cash and watched while I counted it in front of him. Again, it was not a pleasant experience.”

These are familiar stories for a lot of people, but in this case, a light bulb moment occurred. A worldwide problem that didn’t have a solution. Now there is; Trustap.

Beginning their story as a humble startup based out of Cork, Ireland, in the last 3 years, Trustap managed to establish themselves as a real competitor in the peer to peer payment market, now operating from their base in Cork with team members situated in the US, UK and Asia. Trustap was initially designed to remove the risk of being scammed by strangers online. As time passed, Trustap evolved into a more diverse interface, whereby it now offers full protection to both parties in common transaction types.

Through partnering with companies such as Preloved in the U.K. and several Motor marketplaces locally, they have managed to directly target users who would benefit from their service, solving the trust problem that is always present between strangers when they transact with other people, both online and face to face. Their online payment platform is uniquely designed to store transaction amounts in a Trustap “hold” until such point as pre-defined transaction milestones are met. Upon these milestones being met, the transaction is complete and the funds are released to the seller/ service provider. Gone are the days of having to be worried about being scammed online when you use Trustap!

Available online at trustap.com, via integrations on partner sites or simply download for Free on the App store or via Google play. Coupled with successes such as in Ireland’s Best Young Entrepreneur 2018, Adopt a Startup Finalist 2018, 30 Under 30 2020, inclusion in the 100 Hot Startups 2019 and European Venture Finalist 2019, the future looks bright. And they’re just getting started…

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