ETranzact has announced plans to expand in the fintech sector, as its transaction volume rose by 40 per cent increase to N79tn in 2023.
The Chief Executive Officer of eTranzact, Niyi Toluwalope, at a recent “Facts Behind Figures” webinar in the Nigerian Stock Exchange, disclosed that the substantial rise in transaction volume underscored its role in facilitating digital payments and financial transactions across various sectors of the economy.
He emphasised the company’s consistency in transaction processing, boasting of a 99.5 per cent success rate and a maximum processing speed of 1.2 seconds per transaction.
He stated that the “engage and win” strategy emphasised three core pillars: full service switching, merchant marketplace play, and direct to consumer play, adding that those pillars were designed to enhance eTranzact’s service offerings and solidify its position as a leader in Nigeria’s digital payment ecosystem.
Toluwalope reaffirmed eTranzact’s commitment to stakeholders, stating, “Our strategy is to continually engage our stakeholders and win their trust through exceptional service and innovative solutions.”
According to him, the company aims to drive further growth by expanding its service offerings and enhancing technological infrastructure, ensuring it maintains a competitive edge in the evolving fintech industry.
The Chief Financial Officer of eTranzact, Emmanuel Ogunji, noted that the company achieved gross revenue of N33.9bn, marking a 50 per cent increase, and net revenue of ₦9.2bn, reflecting a 51 per cent rise year-over-year.
“The company reported a significant growth in cash and cash equivalents from N11.5bn in 2022 to N19.6bn in 2023. He also highlighted a gross revenue growth of N33.9bn, a 50 per cent increase, and a net revenue of N9.2bn, a 51 per cent rise from 2022. The company’s gross profit for FY 2023 stood at N8.3bn,” he explained.
The firm stated its resolve to leverage technology to drive its growth and market presence. The Chief Executive Officer of E-Tranzact, Niyi Toluwalope said the company has continually invested in advanced payment technologies, enabling seamless online and offline transactions for small and medium-sized enterprises.
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