#75: eTranzact - How Nigeria's pioneering payments and switching platform is serving businesses and governments across Africa

Overview: Today, we’re going to explore eTranzact - the African payments and switching platform. We’ll discuss the story across the following areas: First, Nigerian payments context  Second, eTranzact's early history Third, Product & monetization strategy Fourth, Competitive positioning  Fifth, Overall outlook This episode was recorded on Feb 11, 2024 Companies discussed: eTranzact, Interswitch, Unified Payment Services Limited (UPSL), Systemspecs (Remita), Paystack, Flutterwave, Moniepoint, Paga, OPay, MTN & Airtel. Business concepts discussed: Mobile money, Payments Collections, Payments ecosystem, payments partnerships strategy, card networks, payments infrastructure, low-end disruption, banking regulation & payments M&A strategy Conversation highlights: (00:57) - What is eTranzact and why we’re talking about it (07:43) - Context of Nigeria’s payment sector before eTranzact (16:45) - eTranzact founding story (35:46) - Growth and geographic expansion (45:10) - Product strategy (01:02:56) - Monetization strategy (01:20:41) - Competition (1:31:10) - Bankole’s overall thoughts and outlook (1:34:38) - Olumide’s overall thoughts and outlook (1:43:20 - Recommendations and small wins Olumide’s recommendations & small wins: Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at [email protected]. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at [email protected] Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook) Recommendation: Never Enough (Loren Allred). Incredible. I can listen to it on repeat for the whole day.  Recommendation: La Bachata (Maniel Turizo). Dope shit. Recommendation: "Someone You Loved". Not the original but a fabulous cover. Best line, "I was getting kinda used to being someone you loved". Listen to the 3rd verse when they sing simultaneously. Incredible! Recommendation: A Million Miles Away movie. It is a biographical drama film about the life of José Hernández, a Mexican-American migrant farm  Small win: Booked Cirque Du Soleil show. Looking forward to it. Bankole’s recommendations & small wins: Recommendation: Comma - Burna Boy && Wolfram|Alpha as the Way to Bring Computational Knowledge Superpowers to ChatGPT Small win: Clean shaven + the Nigerian AFCON semifinal win only to lose in the final a few hours after recording :(  Other content: History of Web Acquiring in Nigeria && Atlas Copco on Invest Like The Best && An Empirical Examination of Why Mobile Money Schemes Ignite in Some Developing Countries but Flounder in Most  Listeners: We’d love to hear from you. Email [email protected] with feedback! Founders & Operators: We'd love to hear about what you're working on, email us at [email protected] Investors: It would be great to link up with you. Contact us at [email protected] Join our insider mailing list where we get feedback on new episodes & find all episodes on Afrobility.com