South African online escrow payments startup Envisionit e-Pay has rebranded to Truzo as it prepares for further expansion globally.
Founded in 2017, Envisionit e-Pay operates a safe and secure online escrow payment service that aims to create trust between strangers when transacting.
As the only escrow service provider in South Africa with a web and app based platform, registered with both the Financial Sector Conduct Authority (FSCA) and Payment Association of South Africa (PASA), Envisionit has decided to go global and establish its UK operations in order to ensure an efficient multi-currency and global offering.
The startup, which took part in the UK-based Go Global programme earlier this year, has now become Truzo, the name of which is derived from the words “trust zone”.
“In a fast changing payments industry the company needed to further differentiate its service offering to ensure a more efficient multi-currency platform and enhance its brand positioning to better reflect its global ambitions,” said founder and managing director Terence Naidu.
“Truzo retains Envisionit e-Pay’s quest to ensure individuals and corporates in South Africa, and now across the continent, transact more without fear of being scammed. When we trust more we trade more and when we trade more economic growth increases. As the preferred and trusted escrow service provider, we aim to do our bit to help grow trade across the African continent to the benefit of all Africans. Soon, Truzo will be the only way we do business and trade in Africa.”
