In Pakistan, peer-to-peer (P2P) transactions often run into challenges like bank account freezes, stemming from misunderstandings or rushed decisions. One significant friction point arises when verified merchants request extra verification from buyers, such as CNIC copies, selfies, or videos. Buyers, having already completed their KYC on the platform, sometimes perceive this as unnecessary or even offensive, assuming it questions their integrity.
However, these additional verification steps are essential for ensuring transaction security. Fraudulent activities by scammers often lead to flagged bank accounts, creating a ripple effect. Innocent accounts linked to these flagged transactions can also get blocked, which is why merchants remain cautious. This is not to inconvenience buyers but to protect both parties from potential scams.
Another common issue is impatience. Buyers sometimes expect immediate responses, and when merchants delay (often because they’re handling multiple transactions), complaints or disputes are raised prematurely. These actions, combined with a lack of attention to merchant-specific terms and conditions, escalate conflicts unnecessarily.
To improve the P2P experience and prevent account freezes:
1. Understand Verification Requirements: Merchants aren’t questioning your honesty; they’re ensuring secure transactions.
2. Practice Patience: Allow merchants time to respond, especially during busy periods.
3. Follow Terms and Conditions: Read and adhere to merchant guidelines before initiating transactions.
4. Avoid Premature Disputes: Engage in open communication with merchants to resolve concerns before escalating.
Building trust, exercising patience, and maintaining transparency can significantly reduce friction in P2P transactions. Let’s work towards a safer and smoother P2P environment for everyone.