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Wednesday, May 17, 2006

17 consolidated banks active in eTranzact

By Remmy Nweke

Online real-time payment system, eTranzact has said that it is working with 17 out of the 25 consolidated banks in the country.

Chief executive, Mr. Valentine Obi, disclosed this to newsmen in Lagos, reassuring on secure transactions on the platform.

“Currently, we are working with 17 banks and there are all compliant to the new Central Bank of Nigeria (CBN) regulation,” he declared.

Although he did not list the banks, Mr. Obi also said that eTranzact’s platform is a multi-bank and multi-network transactions, hence “with eTranzact you can do your transactions from anyway; in your car, home and office”.

He pointed out that the platform was set up to be compatible with all mobile phones, just as every transaction generates text message explaining the status of the transaction, saying this must come within 50 seconds of completing the transaction, otherwise the transaction is nullified.

eTranzact, he said, allows account holders to pay for goods and services purchased from merchants, transfer funds to any bank account, cell phone, any card, pay bills, order products among others without stress.

Mr. Obi said that they are leveraging on about seven channels in offering of their services that has since spread to Ghana, Zimbabwe, and United Kingdom.

These he said, include Web via any internet browser in a secured transaction, mobile phones of any Global System for Mobile communication (GSM) operator, Code Division Multiple Access (CDMA) or even an analog.

In addition, eTranzact uses Point of Sale (POS), Automated Teller Machines (ATM), other mobile devices like the Personal Digital Assistant (PDA) and online bank branches.

The eTranzact boss equally disclosed that plans are up to extend operations to the United States and Tanzania before the end of this year.

“Before end of 2006 we would be in six countries” he said, stressing that in any country where eTranzact has a platform, it usually operates with the leading telecommunication companies and banks alike.

Setting up, he said, takes his firm less than two months to be up and running in any country where deal has been sealed.

“It took us less than two months to be up and running in Accra, Zimbabwe and a week in the UK,” he declared.

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1 comment:

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