What E-Tranzact does

E-Tranzact International PLC is a Nigeria-licensed electronic payment switch and multi-channel payment processor founded in 2003 and headquartered in Lagos. The company operates a regulated switching platform that routes transactions between Nigerian banks and financial service providers, positioning it alongside Interswitch, UPSL, and NIBSS as one of the operators collectively processing over 80% of card and POS transactions in Nigeria. E-Tranzact's product portfolio is segmented across two customer surfaces: for individual consumers it offers Bankit (mobile money), Pocketmoni (digital wallet), WebConnect (web payments), and PayOutlet.net, while for corporate and institutional customers it provides SwitchIt (corporate switching), CorporatePay (enterprise-grade corporate payment solution), Pocketmoni, WebConnect, and PayOutlet.

The platform combines proprietary switching infrastructure with mobile money operator licensing from the Central Bank of Nigeria, supporting multi-channel acceptance across mobile, web, POS, and outlet channels with 99.9% uptime, ISO certification, two-factor authentication, and NDPR compliance. E-Tranzact monetizes primarily through transaction fees on payment processing, supplemented by enterprise solution customization and government contracts including the deployment of a Digital Verification System for the Military Pensions Board and e-invoicing service provision for the Federal Inland Revenue Service.

E-Tranzact's go-to-market blends product-led digital acquisition via etranzact.com, direct enterprise sales to financial institutions and corporates, and an agent network exceeding 10,000 small businesses for mobile money distribution. The company is publicly listed on the Nigerian Exchange (NGX) under ticker ETRANZACT and reported N5 billion pre-tax profit alongside its infrastructure pivot, contributing to a combined N9.18 billion after-tax profit with Chams and CWG in 2025. Customer concentration is diversified across government, financial institutions, enterprises, and SMBs, with FY headcount in the 251-500 band.

Name

E-Tranzact

Legal name

eTranzact International plc

Website

https://etranzact.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

251–500 employees

Short description

E-Tranzact is a CBN-licensed Nigerian payment switch operating a multi-channel electronic transaction processing platform, serving banks, corporates, government agencies, and over 10,000 small businesses with mobile money, card switching, and e-invoicing services.

Ownership category

akta.pro rank

Product category

Payment Processing & Switching

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

akta.pro secondary industries

Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB), Payments Operations (ACH/Wire/RTGS, SWIFT, SEPA, Checks) (FSABALAB)

Keywords

• Payment processing
• Electronic transactions
• Payment switching
• Mobile money
• Payment infrastructure

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Payment Processing & Transaction Fees: Revenue generated from processing electronic payment transactions across multiple channels including mobile, web, POS, and outlet networks. The company reported N5bn pre-tax profit in recent periods and achieved N9.18 billion combined after-tax profit with industry peers.
2. Mobile Money Services: Mobile money operator services (Bankit, Pocketmoni) providing wallet services, bill payments, and fund transfers for consumers with transaction-based revenue.
3. Corporate/B2B Payment Solutions: Enterprise payment solutions including SwitchIt, CorporatePay, and WebConnect targeting corporate operations with customized payment infrastructure services.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

E-Tranzact operates a multi-application and multi-channel electronic transaction switching and payment processing platform licensed by the Central Bank of Nigeria. The company provides payment switching infrastructure enabling interoperability between Nigerian financial institutions, alongside consumer mobile money products (Bankit, Pocketmoni), web payment tools (WebConnect), payment outlets (PayOutlet/PayOutlet.net), and enterprise payment solutions (SwitchIt, CorporatePay) for corporate clients and government agencies.

Product overview

E-Tranzact is a multi-application and multi-channel electronic transaction switching and payment processing platform. The company operates a platform-plus-products architecture consisting of a core switching infrastructure (the platform) and distinct product lines segmented by customer type. For individuals, the portfolio includes Bankit, Pocketmoni, WebConnect, and PayOutlet.net — consumer-focused solutions for mobile money, web payments, and digital wallet services. For businesses and corporate institutions, E-Tranzact offers SwitchIt (corporate switching), Pocketmoni, WebConnect, PayOutlet, and CorporatePay — enterprise solutions addressing payment acceptance, processing, and complex corporate financial operations. The company is regulated and licensed by the Central Bank of Nigeria, positioning itself as Nigeria's leading payment and switching company.

Differentiator

Problem solved

Functional benefit

Brands

• Bankit: Mobile money and payment solution for individuals
• Pocketmoni
• WebConnect
• PayOutlet
• SwitchIt
• CorporatePay

Products and services

• Bankit A consumer payment solution enabling secure payments to anyone, anywhere, designed for individual users seeking convenient digital payment options including transfers and bill payments.
• Pocketmoni A mobile money and digital wallet payment solution available for both individuals and businesses, facilitating cashless transactions and wallet services.
• WebConnect An online payment connectivity solution enabling businesses and individuals to accept and process web-based transactions securely.
• PayOutlet.net A web-based payment outlet solution for individual users to receive and manage digital payments.
• SwitchIt A corporate switching solution enabling businesses to process electronic transactions across multiple payment channels and networks.
• CorporatePay An enterprise-grade payment solution designed to handle the uniqueness and complexities of corporate financial operations and payment needs.
• PayOutlet (Business) A business-focused payment outlet solution for corporate entities and agents to accept and manage digital payment transactions.

Quantifiable outcome

• 99.9% uptime for payment processing
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• NIBSS (Nigerian Inter-Bank Settlement Scheme)coreOthersCollaborative ecosystem relationship where eTranzact operates alongside NIBSS as one of Nigeria's major payment switches. NIBSS serves as the central settlement infrastructure while eTranzact provides switching and processing services. Together with Interswitch, UPSL, and NIBSS, they collectively process over 80% of card and POS transactions nationwide.
• InterswitchcoreOthersCoexistence relationship with Interswitch, Nigeria's other major payment switch. Both operators integrate with multiple switches for redundancy rather than relying on single providers, with eTranzact processing significant market share alongside Interswitch in Nigeria's payment infrastructure ecosystem.
• Verve Card (Interswitch)coreTechnology or IntegrationVerve cards hold approximately 40% of active cards in Nigeria, influencing which switch partners fintechs prioritise. eTranzact as a payment switch processes Verve card transactions as part of its core switching business.
• FIRS (Federal Inland Revenue Service)coreImplementation/ SI/ Consulting PartnerDesignated as official e-invoicing service provider for FIRS, implementing digital invoicing solutions for Nigeria's tax authority. This government partnership provides significant revenue and credibility.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• NIBSS (Nigeria Inter-Bank Settlement System): NIBSS is the central settlement infrastructure for Nigerian interbank payments, operating alongside E-Tranzact as one of the major payment switches. NIBSS also co-awarded E-Tranzact the 2018 Mobile Money Operator of the Year recognition.
• SystemSpecs: SystemSpecs is a Nigerian fintech offering payment infrastructure, including the popular Remita platform. It competes with E-Tranzact in corporate payments and government transaction processing.
• UPSL (United Payment Services): UPSL is one of Nigeria's major payment switches alongside E-Tranzact, Interswitch, and NIBSS. It competes directly for card and POS switching volume in the Nigerian payment ecosystem.
• Remita: Remita is a Nigerian payment processor and switch used for government payments, salary disbursements, and bill payments. It directly competes with E-Tranzact's CorporatePay and government-facing infrastructure offerings.
• Interswitch: Interswitch is Nigeria's other dominant payment switch, collectively processing over 80% of card and POS transactions in Nigeria alongside E-Tranzact, NIBSS, and UPSL. Both compete directly for FI switching volume and operate Verve card infrastructure.

Emerging players

• Onafriq (formerly MFS Africa): Onafriq operates a digital payments network across Africa, enabling cross-border mobile money transfers. It is comparable to E-Tranzact in mobile money operations but focused on cross-border African remittance rails.
• Prospa (formerly Sparkle): Prospa is a Nigerian digital banking and business banking platform offering payment solutions to SMBs. It is comparable to E-Tranzact's Pocketmoni and small business-focused products.

Broad incumbents

• Flutterwave: Flutterwave is a leading African payment infrastructure provider offering multi-currency processing and payment APIs across the continent. It competes with E-Tranzact for corporate payment volumes but operates with broader pan-African scope.
• Paystack: Paystack (owned by Stripe) provides online payment processing for African businesses, competing with E-Tranzact's WebConnect and PayOutlet products in the digital acceptance layer.

Regional players

• Cellulant: Cellulant operates a pan-African digital payments platform connecting banks, mobile network operators, and merchants. It is comparable to E-Tranzact as a payment switch but operates across multiple African countries.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/etranzactplc?lang=en
• Facebookfacebook.com/eTranzact-736442906398369/posts
• LinkedInlinkedin.com/company/etranzact-international-plc
• Instagraminstagram.com/etranzactplc/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about E-Tranzact