Wednesday, February 20, 2008

CBN honours eTranzactCBN honours eTranzact

THE Central Bank of Nigeria (CBN), has honoured electronic payment solution provider, eTranzact for its innovation and ingenuity in the financial sector of the economy.

At the occasion attended by organisations in the financial sector and meant for recognition of their immense contribution to the sector’s growth and development, CBN named eTranzact as its Best Entrepreneur Most Innovative Product - Services.

Champion Infotel recalls that eTranzact prides itself as the nation’s foremost online real-time payment system that allows individuals and corporate account holders to pay for goods and services without stress.

Additionally, eTranzact also enables transfer of funds to any bank account or cell phone across the country, as well as payment of bills and order products online using their eTranzact cards.

At the event held in Sheraton Hotel, Abuja, CBN portrayed eTranzact as a unique service organization whose innovation is helping to drive the scheme of making Nigeria a cashless society.

The award, CBN officials said, is a testimony to eTranzact’s groundbreaking approach to resolving the nation’s banking and commercial challenges technologically.

“eTranzact is pioneering the Mobile Commerce (mCommerce) and the Mobile Banking culture in Nigeria and beyond. eTranzact solutions which won CBN attention and honour include eTranzact Payout let, mCommerce, eCommerce Services, eTranzact WebAccess, Business-to-Business (B2B) Services, Telco Services, and ATM Access,” the official said.

Chief executive, eTranzact, Mr. Valentine Obi, informed that even employers could pay their employees’ salary using the eTranzact platform and these services are genuinely creative and flexible for people to use.

He further said as a multi-channel payment platform, eTranzact enables people make payment for goods and services via different channels.

“It is possible, for instance, to pay for an airline ticket on Aero or Virgin Nigeria from the comfort of your desk in the office, without the need to rush to the frontline of the airline,” he said.

Enlightening that all eTranzact cardholder needs do afterwards “is to check in your luggage and board the aircraft,” adding that for parents and guardians who need to settle their children’s school fees, it might be cumbersome going through the rowdy banking hall and the protocols.

“But with eTranzact card, you just press some buttons on your mobile phone and the transaction is completed,” he said.

According to him, a major achievement is the possibility of Nigerian and Ghanaian eTranzact cardholders to withdraw cash from any ATM in Nigeria and Ghana and still have their accounts debited accordingly.

This service, he said, was designed for all categories of people who travel between Nigeria and Ghana, just as stakeholders commended the eTranzact’s partnership with Intercontinental Bank to bring this idea to fruition, which is known as iCash.

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