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eTranzact Platform Limited Uganda, a subsidiary of eTranzact Global, has formally launched its operations in Uganda, promising to both transform cross-border payments as well as “reduce transaction costs by at least 50%”.
The payments company, which recently acquired Payment Service Provider (PSP) and Payment System Operator (PSO) licenses from the Bank of Uganda, in a statement said: “eTranzact is set to deliver cutting-edge electronic payment and digital banking solutions that will transform financial transactions across the region. This significant launch cements eTranzact’s position as a leader in the digital finance landscape, enhancing financial access across Africa”.
“Whether through real-time interbank transactions, seamless merchant settlements, or instant cross-border transfers, eTranzact’s platform ensures efficiency and security while reducing transaction costs by at least 50%. Utilising innovative technology, eTranzact empowers businesses and individuals to streamline financial operations with enhanced convenience and lower costs,” the company added.
Since its founding in 2003 by Group Chief Executive Dr. Valentine Obi, eTranzact has grown into one of Africa’s leading non-bank payment service provider, processing over 201 million transactions annually and facilitating more than USD40 billion in value.
eTranzact operates in multiple countries, including Nigeria, Ghana, South Africa, Sierra Leon, Cameroon, the United Kingdom, and now Uganda.
“At the core of eTranzact’s offerings is an award-winning, multi-channel electronic transaction switching platform, ensuring seamless and secure payments; said Dr. Valentine Obi, adding: “The platform adheres to international compliance standards such as PCI-DSS and GDPR, guaranteeing a secure, transparent, and reliable payment experience for governments, large institutions, SMEs, and individual users alike”.
“Committed to financial inclusion, eTranzact’s SACCO as a Service (SaaS) and MFI as a Service (MaaS) platforms offer digital-first solutions to cooperatives and Microfinance institutions, helping them expand their reach and improve customer experiences in the digital era. Additionally, eTranzact invites fintech innovators to join its Fintech Cohort, offering access to its APIs and infrastructure to develop market-ready solutions in record time,” eTranzact added.
The company also said that “with real-time cross-border payments and interbank transfers processed in under 60 seconds, along with dynamic wallets for personalised financial management, eTranzact provides a comprehensive suite of services that meet the evolving needs of businesses and consumers alike”.
The company also said it was committed to its mission of offering financial solutions that are Fast, Affordable, Secure, and Convenient (FASC).
“Users benefit from significantly lower transaction costs and robust security measures, including KYC protocols and two-factor authentication, with real-time processing and instant access to transaction histories,” the company concluded.