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eTranzact Launches E-Payment System in Nigeria (Posted 13th July, 2003) Tell your friends about this page! Email it to them.

The Lagoon Restaurant, Victoria Island played host to a cross-section of industry big-wigs in the country on Tuesday 17th June, 2003. The event was the formal launch of eTranzact, an electronic payment system that makes settlement of transaction possible real time using telephone and the Internet as interface. eTranzact was developed in-house by Sybase, a software development company based in Lagos, Nigeria. According to Mr. Valentine Obi, Managing Director and CEO of Sybase, he claimed that eTranzact was wholly conceptualised and developed in Nigeria. He said the application has received international encomium by winning the prestigious Computerworld Honours Award for Innovative and Visionary use of Information Technology to Produce and Promote Positive Social, Economic and Educational Change on April 6, 2003 at San Francisco, USA. A fact to note here is that e-Tranzact is the first product to emerge from Africa to attract an international IT award at that level and category.

eTranzact is an Internet and mobile phone payment solution that enables subscribers/card holders to securely, and conveniently pay for goods and services to merchants, transfer fund and carry out other electronic transaction (bill presentment and payment) via telephone lines (using SMS, Voice XML or WAP), Internet, Bank Outlets and EPPB or PDAs. Other than the services offered by other Internet payment solutions, eTranzact provides various payment channels that provide subscribers/card holders the flexibility to make payment through a channel that best suit their needs.

One of the winning features of this solution is online real-time transaction information to members of the scheme and its ability to integrate with various merchants to automate merchants business processes. It is the first to provide a platform for Debit Card, Credit Card and ePurse functionalities. To become an eTranzact subscriber is very simple, you just walk into any of the participating banks (Access Bank Plc, First Bank Nigeria Plc, First City Monument Bank, Guaranty Trust Bank Plc, NAL Bank Plc, Platinum Bank Limited and UBA Plc.), see the customer care service personnel and request for an eTranzact form which when filled will within 5 minutes hook you to the eTranzact database. You can thereby engage in any transaction with another eTranzact subscriber at no extra cost.











Chairman of the occasion, Mr. Pascal Dozie (Chairman, MTN Nigeria and Diamond Bank) in his comment underline the need for an easy means of payment in the Nigerian business terrain. He sees e-Tranzact as an answer to this yearnings and a step towards promotion of e-business in the country. Both Zachary Wazara (CEO, Econet Wireless Nigeria) and Ben Akabueze (MD, NAL Bank Plc.) gave flowery comments about the product and sees it as a great contribution to the IT world. Mr. Felix Ohiwerei (Chairman, Nigerian Breweries, Unilever and eTranzact) believes the application will gain fast and wide acceptance in the country.

The solution is built on an open architecture that makes it scalable and flexible; it allows for a variety of transactions like settling of sundry bills, purchase of GSM airtime, payment for telephone bill, utilities, effect money transfers and settle other hitherto cash based transactions. To become an eTranzact subscriber is quite simple; for an individual, visit any of the participating banks (customer service unit) and request to open an eTranzact account. You will be given a form to fill and upon completion of the form, your eTranzact account is created with a default PIN, which you have to activate. A subscriber enjoys the benefit of flexibility to make payments for goods and services online, transfer funds to other e-Tranzact subscribers irrespective of where both source and destination eTranzact accounts are domiciled, automatically purchase airtime, pay utility bills online, etc. eTranzact is beneficial to the participating banks, merchants and the subscribers; it makes transactions easier for parties..

for further information contact:

Mr. Benjamin Akinteye, Chief Marketing Officer eTranzact,

5th Floor Fortune Towers,

27/29 Adeyemo Alakija Street,

Victoia Island, Lagos

Tel: + 234 1 261 0226, 234 802 291 2617, 234 803 305 6533

Fax: 234 1 262 5120

e-mail: [email protected]

Website: http//

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