By Elizabeth Adegbesan

eTRANZACT International has highlighted the relevance of its e-payment solutions which have been simplified to support the growth of businesses and other organizations, as well as secure their payments.

The company disclosed this at the 2024 Annual Conference of Committee of e-Business Industry Heads, CeBIH, with the theme, ‘Payment system 2030: “Navigating contemporary issues in driving future growth’ in Lagos.

During the event, eTranzact made a presentation on its products Switchit which offers modularity that accelerates financial service adoption through standalone modules, funds transfer, bulk payment and bill payment, among others.

Speaking at the event, the Managing Director/Chief Executive Officer, eTranzact International, Niyi Toluwalope, emphasised urgent need for collaboration to boost the efficiency of e-payment system.

“Toluwalope underscored the fact that collaboration could drive innovation and growth, especially as the consumer landscape evolved towards a younger demographic.

He said: “So what we see in the future is the situation where things are no longer a silo, we have a lot of efficiencies based on interconnected systems people leverage on.

“Nobody is duplicating the roles; We are not reinventing the wheels. You can leverage what has been established already and build on that. For me, I think that is the future; That is what we need to adopt, and that is how to grow.”

Toluwalope further stressed that Nigeria led in population but ranked lower in bank and payment penetration, compared to South Africa and Kenya.

“It’s a regulatory compliance, you cannot regulate compliance requirements, you cannot avoid it, but at the same time, it must be seamless, quick and fast digitising onboarding is one of the things we believe that’s helped payment and payment systems adoption over the last couple of years and we are expecting things to even be further simplified to make this better,” he added.

Also speaking at the event, the Deputy Governor of Lagos State, Dr Obafemi Hamzat, who was represented by the Special Adviser to the Governor on

Taxation and Revenue, Abdul- Kabir Opeyemi Ogungbo, stated that Governor Babajide Sanwo-Olu’s administration was leveraging technology to address local challenges in transportation, and education.