eTransact International has highlighted the relevance of its e-payment solutions, which are designed to simplify the way businesses and other organizations grow as well as secure their payments.
The company made presentations on its products during the 2024 annual conference of CeBIH (Committee of e-Business Industry Heads) in Lagos with the theme, 'Payments Systems 2030: Navigating Contemporary Issues in Driving Future Growth'.
During the event, eTranzact gave a presentation on its products like Switchit, which offers modularity that accelerates financial service adoption through standalone modules, fund transfers, bulk payments and bill payments as well as direct payments.
It introduced eTranzact CorporatePay (CPay) which allows organizations to automatically handle salary payments and disbursements to third parties with different levels of authorizations and approvals involved in payment progress.
Credo that the company presented at the event is an innovative multi-channel platform that empowers businesses of all sizes to conduct business and accept payments seamlessly across various touch points.
Speaking as one of the guest speakers, Niyi Toluwalope, Managing Director/Chief Executive Officer of eTranzact International, stressed the urgent need for collaboration to address the inefficiencies in the ePayment system.
Toluvalope underlined that collaboration can drive innovation and growth, especially as the consumer landscape evolves toward a younger demographic.
“So what we see in the future is a situation where things are no longer a silo, we have a lot of capabilities based on interconnected systems that people take advantage of,” he said.
“No one is copying roles; We are not reinventing the wheel. You can take advantage of what's already established and build on it. For me, I think this is the future; We need to embrace it and move forward like this.”
Toluwalope further stressed that Nigeria leads in population but ranks lower in bank and payment access compared to South Africa and Kenya.
Emphasizing that key factors driving growth include active regulatory engagement and innovative fintech solutions, he added that inadequate infrastructure and compliance issues remain significant hurdles.
The MD said, “It is a regulatory compliance, you cannot regulate the compliance requirements, you cannot avoid it, but at the same time, it should be seamless, quick and fast.
“So digitizing onboarding is one of the things that we believe has helped drive adoption of payments and payment systems over the last few years and we're hoping to do things further to improve that will also be simplified.”
At the event, CeBIH unveiled its new website.
Also speaking at the event, the Deputy Governor of Lagos State, Obafemi Hamzat, who was represented by the Special Adviser to the Governor on Taxation and Revenue, Abdul-Kabir Opeyemi Ogungbo, said the administration of Governor Babajide Sanwo-Olu Taking advantage. Address local challenges in health care, transportation, and education.
He said key initiatives of the state include a digital tax administration system to enhance compliance and a unified payment system for public services.
He said Lagos is using technology in its digital tax administration system to simplify tax collection processes, improve transparency and reduce administrative work, making tax compliance easier for businesses and individuals.
However, Hamzat stressed the importance of partnering with the private sector to optimize revenue generation and improve governance, making Lagos a leader in digital transformation in Nigeria.
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