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Tag: eTranzact

  • eTranzact posts N168.1m PAT

    eTranzact posts N168.1m PAT

    Provider of mobile banking and payments services, eTranzact International Plc, has recorded a profit after tax (PAT) of N168.1 million in firts quarter of this year.

    The results, which have been officially received by the Nigerian Stock Exchange (NSE) represents a 91 per cent increase from results posted in the same quarter last year.

    Following a very successful outing last year, the firm has announced significant partnerships with MasterCard, World Remit and other key global players in the payments space. It has also gone on to strengthen its mobile banking, mobile money, remittance, and corporate pay businesses, making significant investment in technology and product development which have positioned it for further growth this year.

    Its Chief Executive Officer, Mr Valentine Obi,  said: “Our company has experienced consistent growth in revenue and profitability over the past 10 years with transaction activity value, volumes and partnerships also experiencing significant growth in the last three years.

    “Key to our growth has been setting key performance indexes around user experience, platform stability and technology development, and we plan to continue to do this.”

    eTranzact will also for the first time be part of the Mobile Web West Africa 2015, a conference that is bringing together leaders of mobile in Africa, as a thought leader sponsor.

    Mr Obi will be on a panel discussing focusing on What needs to happen to accelerate evolution in Mobile sharing his experience developing mobile payments at a time where telecommunications was just beginning to grow in Nigeria.

    Its  Group Head, Business Development, Mr Adeyemi Adeyemo, will speak on “The development of mobile banking and money services’’while Mr Ayo Oladimeji, Head of Mobile Payments will also be on a panel that will discuss the next level for payments in the region.

  • eTranzact posts N168.1m profits as CEO, others seek improved security for mobile payments

    eTranzact posts N168.1m profits as CEO, others seek improved security for mobile payments

    Tranzact International PLC, Africa’s leading provider of mobile banking and payments services has recorded a profit after tax (PAT) of N168.1 million at the end of the first quarter.

    The results which have been officially received by the Nigerian Stock Exchange represent a 91per cent increase from results posted in the same quarter last year.

    Following a very successful 2014, the company has announced significant partnerships with MasterCard, World Remit and other key global players in the payments space, and also gone on to strengthen its mobile banking, mobile money, remittance, and corporate pay businesses, making significant investment in technology and product development which have positioned it for further growth in 2015.

    “Our company has experienced consistent growth in revenue and profitability over the past 10 years with transaction activity value, volumes and partnerships also experiencing significant growth in the last three years,”said Mr. Valentine Obi, CEO of eTranzact International PLC.

    In a related development, eTranzact boss was part of the interface and discussion session at the Mobile Web West Africa 2015 in Lagos at the weekend.

    Obi who spoke on a presentation tagged: ‘What needs to happen to accelerate evolution in mobile?’ appraised the strides recorded  in the payment systems in Nigeria, noting that: “One big prerequisite for financial inclusion and in fraud control for financial institutions is a check called ‘Know your Customer (KYC).’ It is one of the biggest challenges we face in the payments industry, and all players can come together to help solve this issue.”

    Speaking specifically to MTN and Airtel who were represented at the event, he said “The telcos own a lot of user data and can help the payments platforms by sharing this data.  There is a big need for the telcos to share data in order to safeguard and protect customers from fraud just like banks share data with the switching platforms.”

    Sharing his personal experience on the evolution of mobile in West Africa, he recalled that, “In year 2000, I bought a cell phone for N156,000 and, rather than being a device for communication, it was a device to show status symbol. From 2001, we began to see the revolution that has led to the development of cheaper smartphones and content for users, and this is just the beginning.”

    Other speakers included James Mcnab, Managing Director Africa and Chief Communications Officer, Basebone, Emmanouil Revmatas, Director of Information Technology and Mobile, Samsung Electronics West Africa, Tayo Egunjobi, Senior Enteprise Marketing Manager, MTN, Toyosi Akerele, Founder and CEO, Rise Network and Mr Okechukwu Igwegbe, Head, New Products Development, Airtel Nigeria. The session was moderated by Uzodinma Iweala, CEO/Editor-In-Chief, Ventures Africa.

  • eTranzact wins best mobile money service award

    eTranzact wins best mobile money service award

    eTranzact International PLC, Africa’s leading provider of mobile banking and payments services, has been named best mobile money service category of the AfricaCom awards and Lead Africa Awards 2014. One famous product offering, “PocketMoni” ,won the award.

    eTranzact’s effort in mobile began in 2003 long before mobile money was finally introduced in Nigeria. The team always believed that mobile would be at the forefront of payment innovation and had a dedicated team working on research and development. This led to pioneering research that kick-started the mobile banking sector in Nigeria and eventually birthed “PocketMoni”, the mobile money service.

    The service has won a series of awards and grants, the most recent one coming from EFInA, a financial development organisation which is funded by the UK Government’s Department of International Development (DFID) and the Bill & Melinda Gates Foundation to the tune of USD250,000. As part of the terms of the grant, eTranzact will also put in USD100,000 and will drive the execution of a mobile money project called the “PocketMoni 500” in North and South Western Nigeria.

  • Western Union, eTranzact partner

    Western Union, eTranzact partner

    The Western Union Company and eTranzact International Plc, an electronic payment processing firm, have announced the launch of a new mobile money transfer service.

    In a statement it said consumers in Nigeria who use the eTranzact Mobile Money platform now have the option of receiving a Western Union Money Transfer transaction on their mobile phones.

    The facility allows consumers to receive funds from money transfer transactions initiated at Western Union transactional websites in 23 countries, or Western Union Agent locations around the world.

    “Western Union continues to introduce new service offerings to complement our multi-product, multi-channel strategy,” said Aida Diarra, Western Union Regional Vice President for North, Central and West Africa.

    She said the firm is excited to partner with eTranzact to increase the number of access points for consumers to use its services worldwide, facilitate financial inclusion, and provide convenient mobile solutions for those who want new methods for money transfer transactions.

    “To date, we have 19 active mobile money transfer deployments in 17 countries, and remain committed to expanding our mobile service offerings in key regions,” she said.

    eTranzact Mobile Money is a mobile payment solution that has multi-network interface capabilities with third-party payment programs. Upon receipt of their funds via a Western Union Money Transfer transaction, subscribers can use PocketMoni, the eTranzact Mobile Money platform, to pay utility and cable television bills, make merchant payments, top-up their mobile phone credits and/or make third party transfers.

    “We are excited to work with Western Union and leverage the power of their global network on behalf of consumers across Nigeria,” Mr. Valentine Obi, Managing Director and Chief Executive Officer, eTranzact, said.

    He said eTranzact Mobile Money service such as PocketMoni, is specifically designed to transform a user’s mobile phone into a highly interactive, feature-rich payment device.

    He said the firm’s relationship with Western Union will allow for daily access to money transfer transactions.

    He said adding Western Union money transfer capability to the platform is another step in building a comprehensive suite of mobile services, and enhances our customer value proposition.