eTranzact eyes merchant acquisition, direct-to-consumer market
eTranzact, a Nigerian fintech company, is focusing on Merchant Acquisition and Direct-to-Consumer Market strategies to stay relevant in the competitive landscape.
The company’s CEO, Mr Niyi Toluwalope, disclosed this statement on Friday.
Toluwalope was quoted to have said this during their participation at the NGX “Facts Behind Figures” webinar.
He noted that the focus was based on market expansion comes alongside impressive financial performance.
He said the vision was built on three core pillars: Full Service Switching, Merchant Marketplace Play and Direct to Consumer Play.
He added that the company at the forum explained to investors and stakeholders its robust financial performance and strategic direction.
Toluwalope said that the company recorded an impressive transaction growth, citing a transaction volume of N79 trillion in 2023.
According to him, this is a 40 per cent increase from the previous year.
He emphasised the company’s consistency in transaction processing, boasting a 99.5 per cent success rate and a maximum processing speed of 1.2 seconds per transaction.
“Our strategy is to continually engage our stakeholders and win their trust through exceptional service and innovative solutions. We are committed to driving growth and delivering value to our investors.
“Facts Behind Figures webinar” not only showcased the company’s strong financial health but also its strategic vision for future growth, ” he said.
On his part, the Managing Director Nigeria Exchange Ltd. (NGX), Mr Jude Chiemeka, commended eTranzact’s management, highlighting the importance of such events in bolstering investor confidence through transparency and accurate information.
Also, Chief Financial Officer, eTranzact Plc, Emmanuel Ogunji provided further insights into the company’s financial health, reporting significant growth in cash and cash equivalents from N11.5 billion in 2022 to N19.6 billion in 2023.
Ogunji also highlighted a gross revenue growth of N33.9 billion, a 50 per cent increase, and a net revenue of N9.2 billion representing a 51 per cent rise from 2022.
According to him, the company’s gross profit for FY 2023 stood at N8.3 billion.
The management team outlined plans to expand service offerings and enhance technological infrastructure, ensuring eTranzact maintained its competitive edge in the fintech industry.
As the only super fintech and payment switching platform listed on the Nigerian Stock Exchange, eTranzact continues to lead the market with its innovative solutions and unwavering commitment to excellence.
