The startup operates a payments platform that utilizes escrow technology to securely hold funds during international transactions until predefined conditions are met. This approach protects travelers from fraud and canceled services, allowing businesses to concentrate on their core operations without payment-related concerns.
Funding
$340K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Online transactions, especially in travel and peer-to-peer marketplaces, suffer from a lack of trust, exposing both buyers and sellers to the risk of fraud or unfulfilled agreements. Buyers risk losing money to fraudulent service providers or canceled services, while sellers face uncertainty about receiving payment after delivering goods or services. This lack of trust can deter transactions and hinder economic activity.
Solution
Powrs offers a suite of "Vaulter" services that act as a secure intermediary for online transactions, holding funds in escrow until predefined conditions are met. For the travel industry, Vaulter Paylink protects travelers from fraudulent providers and canceled flights by ensuring refunds, while also providing assurance to legitimate travel companies. Vaulter Dealmaker, a mobile app, extends this protection to peer-to-peer transactions, safeguarding both buyers and sellers by holding funds until the agreed-upon terms are fulfilled. By providing a neutral "vault" for funds, Powrs eliminates the buy-sell dilemma and fosters trust in online marketplaces.
Target Audience
The primary target audience includes travelers, travel agencies, and users of peer-to-peer marketplaces who seek secure transaction methods and protection against fraud.
Features
- **Vaulter Paylink:** API and standalone service for secure travel payments with escrow functionality.
- **Vaulter Dealmaker:** Mobile app (iOS and Android) for secure peer-to-peer transactions.
- **Escrow Technology:** Funds are held in a neutral "vault" until both parties fulfill their obligations.
- **Dispute Resolution:** A process for resolving disagreements and ensuring fair outcomes.
- **API Integration:** Seamless integration with existing platforms via API.