Proof of Usefulness Report

Charmpay

Analysis completed on 1/27/2026

+53
Proof of Usefulness Score
You're In Business

Charmpay is a verified early-stage fintech application addressing the high-risk problem of online transaction fraud in Nigeria through an escrow system. The project demonstrates strong problem-solution fit with a live app on the Google Play Store (updated Dec 2025) and verifiable local media coverage (Techparley). While current traction is minimal (~167 users), the honest reporting, functional product, and clear market relevance position it as a promising micro-scale utility with significant growth potential.

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Score Breakdown

Real World Utility+90.0
Audience Reach Impact+15.0
Technical Innovation+25.0
Evidence Of Traction+30.0
Market Timing Relevance+65.0
Functional Completeness+50.0
Subtotal+45.75
Usefulness Multiplierx1.15
Final Score+53

Project Details

Project URL
charmpay.com.ng/
Description
Charmpay is a mobile app that provides secure escrow-based payments for online transactions, ensuring trust between buyers and sellers. Users fund the platform, and funds are only released when both parties confirm satisfaction, reducing fraud and building confidence in digital commerce.
Audience Reach
Over 167 active users during beta testing
Target Users
Charmpay solves the problem of mistrust in online transactions, especially in university markets and small online businesses in Nigeria. Sellers receive guaranteed payment, and buyers are protected from scams, creating real financial and social utility.
Technologies
Other
Traction Evidence
https://play.google.com/store/search?q=charmpay&c=apps&hl=en https://www.instagram.com/charmpay.ng/

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline