eTranzact Records N5.9trn in 2015

The Chief Executive Officer of eTranzact, Mr. Valentine Obi, has disclosed that the company recorded $30 billion, about N5.9 trillion in revenue in 2015.

Speaking at a press briefing to unveil a new brand identity for the firm in Lagos, he said, “eTranzact recorded over 110 million transactions valued at over $30 billion in 2015 financial year. We have grown our turnover from N7.1 billion in 2014 to N8.6 billion in 2015, and profit before tax from N0.6 billion in 2014 to N1.1 billion in 2015, signifying a 22 per cent growth in turnover and 76 per cent growth in profit before tax respectively.”

Obi said eTranzact remains committed to its vision of powering payments for its partners across Africa, adding that at eTranzact, “we believe in using the power of technology to build bridges across continents over the last 12 months, and we will continue to invest in research and build up our capacity to achieve these goals.”

On the rebranding of the company’s identity, Obi said, “The new eTranzact identity shows how much our brand has evolved since we launched in 2003 and expanded to other countries.

“The ‘e’ represents electronic, empowerment, ease and efficiency, showing where our company is today, our vision for the future and our commitment to simplify payments across Africa.

“We have always been at the forefront of innovation, providing complex and powerful technology with simple interfaces to enable efficient, convenient and cost-effective means of payment on all channels.

“With the new and refreshed product offerings for business to business and business to consumer segments of the market, we are committed to our vision of being the leading payment technology provider for individuals and organizations,”  he noted.

Speaking further, he said: “Taking a look at the opportunity in mobile for example, the gap between mobile banking and traditional banking has closed significantly, with Gartner, Inc, the World’s leading information technology research and advisory company predicting that the global mobile transaction market will be worth $721 billion and more than 450 million users by 2017.

“These opportunities in payments exist primarily in Africa and we understand the key role we have to play in making the process seamless.”

Established in 2003, eTranzact has been at the forefront of innovation in payment technology, creating solutions that have driven growth and development across different areas in government, private, SMEs and international markets.

The firm said the strategic rebranding of its identity, vision, mission, products and people, reaffirms its leadership position in transaction switching, mobile banking, mobile money, bulk payments, remittances, bills and utilities payments, collections and other payment technology areas.