eTranzact International PLC, Africa’s premier e-payment solutions provider had a very successful 2016 profit-wise. Naturally, one will think the economic recession the country is in would have caused a lot of businesses to record more losses than profits. Actually, it’s not a wrong assumption and like the saying ‘To every law, there’s an exemption’, eTranzact Internatonal PLC recorded a huge profit in year 2016.
Getting the ISO 27001 & ISO 20000 certifications was a part process in eTranzact’s re-branding which gave it a recognition of delivering service delivery and excellence. Alignment of eTranzact’s processes and operating standards with internationally recognized best practices was a step in the company’s complete re-branding.
eTranzact took strategic steps last year that contributed to its success. Launching of BankIT which is a payment service allowing businesses conduct transactions from bank accounts without the input of a hardware token nor a debit card on Web, USSD, POS and Mobile.
eTranzact’s product reached a commendable traction as it processed millions of transactions for its international partners such as Airtel, Glo, Slot, DSTV, GOTV, etc. Subscription fees payment was made easier for millions of customers across the country with the help of the BankIT. It provided the engine for the data and airtime purchase for Airtel, GLO using *444# and *805# respectively. It also provided the engine for subscription payment for Multichoice using *389*9*SmartcardNumber# and also providing services for e-commerce companies.
“Recognizing opportunities for partnerships, improved product focus, continued innovation, drive and commitment to the company’s vision of making payments simple helped our company navigate the challenging macroeconomic environment in 2016,” said Founder and CEO, eTranzact, Valentine Obi.
Apart from the partnership of eTranzact with these international business partners, eTranzact also partnered with the Nigerian Military in 2016. The partnership was in a bid to create a pension card to grant access to easy identification and verification of all members of the Armed Forces in Nigeria. This pension card was also intended give the members of the nation’s Armed Forces access to rewards. This pension card could also be used for making online and offline payments.
Now, the company announced a PBT (profit before tax) of NGN865.1million which it made for the year 2016. That doesn’t end the excellence story because the company continued its streak of 3 years profitability. Also, the company had a revenue growth increase of NGN1.73 billion which means the company’s revenues rose from NGN8.67 billion to NGN10.40 billion.