The year was 2016. Conor Lyden, a student, went to buy tickets for a Premier League match. What happened next was the reason he set up his award-winning business.
Why was the company set up?
I set up the company back in the summer of 2016 when I was accepted into the Ignite Graduate Business Innovation Program in UCC. I always had an entrepreneurial side and this business stemmed from my frustration at the lack of options available to me when I wanted to buy tickets to watch Liverpool games in the UK. I had been scammed a couple of times and I felt there were no suitable solutions for people when they’re buying or selling anything online with people they don’t know, not just tickets.
“Payment apps lack buyer and seller protection.”
What need is the Trustap meeting?
Trustap is a transaction platform that acts as a safety net for customers when they want to buy or sell online with strangers. Trustap works like a personal escrow account. In each transaction, the funds are held during the delivery process, and then once the item has been delivered and the buyer is satisfied or the 24-hour complaints period has elapsed, the funds are released to the seller. This process provides value to customers by eliminating the trust aspect that is currently needed for online transactions with strangers and thus eliminates the chances of the users being scammed and suffering any financial losses.
What is the company’s USP?
Current person-to-person payment systems are meant to be personal, which means that you use the apps exclusively to transfer money back and forth with people you know and trust, such as your friends and family members. It isn’t meant to be used to conduct business with people you don’t know, even if you’re just selling your old bike or extra
