eTranzact MD Harps on Enhanced Collaboration in Digital Payment

Nume Ekeghe

The Managing Director/Chief Executive Officer, eTranzact International, Niyi Toluwalope, has emphasised urgent need for collaboration to boost the inefficiency of e-payment system.

In a statement, Toluwalope made this call during the 2024 Annual Conference of CeBIH (Committee of e-Business Industry Heads), with the theme, “Payment system 2030: Navigating contemporary issues in driving future growth,” held in Lagos.

Toluwalope underscored that collaboration can drive innovation and growth, especially as the consumer landscape evolves 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 leads in population but ranks lower in bank and payment penetration compared to South Africa and Kenya.

He emphasised that key factors driving growth include active regulatory engagement and innovative FinTech solutions, citing that inadequate infrastructure and compliance issues remain critical hurdles