eTranzact
eTranzact International Plc is one of Nigeria's oldest and most established fintech companies, listed on the Nigerian Stock Exchange (NSE). Founded in 2003, eTranzact has been a foundational player in Nigeria's digital payments ecosystem — predating Paystack, Flutterwave, and most modern Nigerian payment gateways by over a decade. The company offers a suite of enterprise API products designed for banks, telcos, financial institutions, and government agencies. Developer documentation is available at developers.etranzactng.com.
What the API Does
eTranzact offers six primary API products: (1) SwitchIT — a bill payment API for utility, airtime, and service payments; (2) Virtual Account Service — for issuing and managing virtual bank account numbers; (3) AntPeer — loan mandate setup and automated repayment collection for digital lenders; (4) Instant Transfer — real-time interbank fund transfers via NIP; (5) e-Invoicing API — generating FIRS-compliant electronic invoices for tax compliance; (6) WaaS (Wallet-as-a-Service) — embedding wallet functionality into third-party applications.
How Developers Use It
Developers access the portal at developers.etranzactng.com for documentation and API reference. Authentication is via API key from the developer portal. eTranzact is an enterprise provider — onboarding typically requires a formal integration agreement rather than self-service signup. A sandbox environment is available for testing.
Pricing
Enterprise pricing only — not publicly listed. eTranzact targets institutional clients with contracts negotiated based on integration type, transaction volume, and product combination. Contact eTranzact for pricing.
Compliance
eTranzact is CBN-licensed and operates under CBN payment system regulations. As an NSE-listed company, it is subject to SEC regulations and public reporting requirements — providing institutional clients with a high level of corporate accountability and transparency.
Challenges and Gotchas
(1) Not a self-service platform — enterprise onboarding required. (2) Documentation is less accessible than Paystack or Flutterwave. (3) Primarily institutional focus — not designed for individual developers or small startups. (4) Pricing requires sales engagement. (5) Product suite is broad but each product may require a separate integration agreement.
Company Background
eTranzact International Plc was incorporated in 2003 and is headquartered in Lagos. It is listed on the Nigerian Stock Exchange and serves over 200+ banks and financial institutions across Nigeria and Africa. The company has expanded into Ghana, Zimbabwe, and other African markets. Its longevity and stock exchange listing make it one of the most trusted institutional payment infrastructure providers in Nigeria.
FAQs
Q: Is eTranzact publicly listed?
A: Yes. eTranzact International Plc is listed on the Nigerian Stock Exchange.
Q: Can a startup integrate eTranzact independently?
A: eTranzact is primarily enterprise-focused. Small startups should consider Paystack or Flutterwave as more accessible alternatives.
Q: Does eTranzact support loan mandate processing?
A: Yes. The AntPeer product handles loan mandate setup and automated repayment debit for digital lenders and microfinance banks.
Q: What is WaaS?
A: Wallet-as-a-Service — an API that lets third-party apps embed NGN wallet functionality without building their own wallet infrastructure.
For Nigerian enterprises and large organizations, eTranzact's position as a publicly listed company on the Nigerian Stock Exchange provides a level of transparency and financial accountability that private fintech providers cannot match. Annual financial reports, board governance, and shareholder accountability create institutional confidence for Nigerian banks, government agencies, and large corporations selecting payment infrastructure partners for critical financial operations.
NIBSS NIP integration through eTranzact enables real-time instant payment transfers between Nigerian bank accounts, settled within seconds. For enterprises running high-value payment operations — salary disbursements, vendor settlements, inter-company transfers — access to the NIP instant payment rail through eTranzact's regulated infrastructure ensures funds reach recipients immediately rather than in batch settlement windows. eTranzact's long-standing position as a NIBSS-licensed institution provides direct connectivity to Nigeria's core payment clearing infrastructure.
The PTSA (Payment Terminal Service Aggregator) license held by eTranzact allows the company to aggregate POS terminal services and provide terminal deployment, management, and transaction routing for merchants. Nigerian businesses deploying POS infrastructure — retail chains, hotels, supermarkets, service businesses — can use eTranzact as their PTSA for terminal provisioning and ongoing support. This physical payment infrastructure layer complements eTranzact's digital API services for businesses managing both in-person and online payment channels.