In Pakistan, peer-to-peer (P2P) transactions often come with unique challenges, particularly the frequent freezing of bank accounts. This issue stems from misunderstandings between buyers and verified merchants regarding verification requirements.
The Verification Conundrum
Buyers may become frustrated when merchants request additional verification, such as:
- Copies of their CNIC
- Selfies
- Videos
- Supporting documents
Buyers may perceive these requests as accusations of dishonesty, leading to unnecessary disputes.
The Ripple Effect of Scams
When a scammer completes a fraudulent transaction, their bank account may get flagged, triggering a ripple effect. Innocent users' accounts associated with payments linked to the scammer may also face scrutiny, resulting in blocked accounts.
The Importance of Patience and Cooperation
To reduce the risk of account freezes and improve the overall experience:
1. Read merchant terms and conditions carefully before initiating a transaction.
2. Comply with additional verification requests to ensure transparency and safeguard all parties.
3. Allow merchants adequate time to respond, avoiding premature disputes.
By understanding the challenges and taking proactive steps, buyers and merchants can work together to create a smoother, more secure P2P transaction experience in Pakistan.