eTranzact International PLC, Africa’s premier e-payments solution provider has announced a profit before tax of 865.1 million naira and revenue of 10.40 billion naira for the year ended December 2016.
In a year that was characterized by adverse sentiment triggers on the global front, falling oil prices and increased macroeconomic challenges, eTranzact was able to grow its revenue from 8.67 billion naira to 10.40 billion naira maintaining its 3 year profitability trend.
Speaking about the financial results, Niyi Toluwalope, Chief Financial Officer, eTranzact says;
“eTranzact continues to ensure it maximizes the value of its shareholders and stake holders. We will continue to invest in our core infrastructure to position the company for the expanding opportunities within the sector”.
In 2016, eTranzact completed its strategic rebranding; making key changes to its brand identity, vision, mission, products and people helping the company take advantage of various opportunities. The company also made efforts to align its processes and operating standards with global best practices achieving the ISO 27001 & ISO 20000 certifications recognizing service delivery and excellence. The certifications were testament to eTranzact’s commitment to a world-class, customer-oriented service culture and environment.
eTranzact launched BankIT TM ,a payment service that allows businesses receive payment from bank accounts on Mobile, Web, USSD and POS without a debit card or hardware token. In a short time of launch the product achieved significant traction processing millions of transactions for partners like Multichoice( DSTV and GOTV), Airtel, GLO, Etisalat, Slot, etc, providing the engine for millions of customers to pay subscription fees using 3899*SmartcardNumber#; buy airtime and data- *444# for Airtel, *805# for GLO and *695# for Airtel, as well as on the web for schools and ecommerce companies.
In partnership with the Nigerian military, the payment technology company also launched a Military pension product which allows over 100,000 retired members of the Army, Navy and Airforce access a biometric military pension card with a 4-in-1 value proposition: identification, verification, rewards, including receiving and making payments.
“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. We believe some of the strategic investments we have made across our business in 2016, have prepared us for an even better 2017”, says Valentine Obi, Founder and CEO, eTranzact.