Articles by "money"
Showing posts with label money. Show all posts

at 0
etranzact
eTranzact International Plc, provider of mobile banking and electronic payment services, has declared a dividend of five kobo per share to its shareholders yesterday, July 23, 2015.
In a news release made available to TechCabal, the approval was given at eTranzact’s 11th annual general meeting (AGM), which took place in Lagos yesterday.
The company stated that in the fiscal year 2014, it recorded growths in gross revenue (N7.1bn) and operating profit (N388mn), while its profit before and after tax (PBT & PAT) also followed the same trend, an improvement from the results of 2013.
“The company’s sustained surplus allowed its board of directors to approve the payment of  5 kobo dividend to shareholders for the period,” eTranzact Stated, “PocketMoni prepaid MasterCards were issued to all shareholders, and, with their unanimous approval at the AGM, their dividend payout was made to the cards.”
2015 has been looking good for eTranzact who posted 168.1 million ($844.2) in profit after tax (PAT) for the first quarter of 2015, almost doubling its profit from the first quarter of 2014 with a 91% swell in profit.
eTranzact recently partnered with electronic wallet startup, SimplePay, to enable SimplePay users send money to users on eTranzact’s portal. It also entered into an agreement with MasterCard to allow eTranzact’s PocketMoni users receive remittances directly into their mobile money walletthrough HomeSend, an international transfer hub.



CREDITS TO TECHCABAL
Continue reading

at 0
Paga agent
It was just about a year ago that local payment startup, Paga reached 2 million registered users with over 11 million transactions processed amounting to over 120 billion Naira (US$ 750 million) as at June 2014.
Today, the service has crossed the 3 million registered user mark, with over 8,000 agents and 3,000 merchants, almost doubling its figures as of last June. It reached the 1 million mark in November 2013.
Paga, which commercially launched back in September 2011, says over a million new people used Paga to carry out transactions in the year 2014 and further processed 6.6 million transactions worth N69 billion during the past year.
However, the payment startup may still be seeing low figures in terms of monthly active users (MAUs) with the last official figure we reported was less than 350,000 MAUs, according to CEO, Tayo Oviosu, which as at November 2013 was 33% of its over 1 million users.
Paga_webpage_3million_users
Fast forward to June 2015, about 18 months later, assuming that, say 35% of its current total registered users (3,000,000) are actively using the service monthly to pay bills, transfer funds and buy phone credits, it means that Paga would have crossed over 1 million monthly active users.
Although these are mere conjecture, there are indications that given the growth of the platform in the past year, one can argue that reaching 1 million active users is a milestone long overdue. Yet, the startup still has a long way to go to reach its goals.
Paga has since set a target to reach 15 million active users and 30,000 agents by 2015, but it does appear that it would take a very long while (perhaps in a decade) before reaching this target, even as it may likely not reach our prediction of 2 million active users by 2015 year-end.
Continue reading

at 0
Ecobank and MasterCard
Ecobank Transnational Inc., is arguably Africa’s largest bank by geographical reach, has signed a landmark multi-country agreement with global payments technology company MasterCard to bring MasterCard’s payment solutions to more than 32 sub-Saharan African markets.
The agreement culminates the multi-country licensing agreement signed by MasterCard and Ecobank in January 2014, which will see Ecobank issue MasterCard debit, prepaid, and credit cards to millions of its customers over the next 10 years.
As part of the deal, Ecobank will also roll out innovative MasterCard acceptance solutions designed to expand the number of merchant locations that accept MasterCard payment cards on the continent.
The move is expected to increase the acceptance and adoption of electronic payments in Africa.
Continue reading
Subscribe to: Posts (Atom)