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eTranzact International Plc, a mobile and electronic payment company in Nigeria has received approval to launch Mobile Money solution in Nigeria. The mobile money approval was granted to eTranzact on November 26, 2010 by the Central Bank of Nigeria, the company said.

The service offers solution such as: instant account issuance, person-to-person payments, person-to-business such as cable TV payment, post-paid payment, mobile top-up, funds transfers to mobile phones and bank accounts, school fees payment etc.

Mr. Valentine Obi, Managing Director of eTranzact in a statement in Lagos said that eTranzact Mobile Money Platform is multi-network capable and interfaces with third party payment schemes. e-Mobile Teller is a new solution driven by the eTranzact Mobile platform and is the first of its kind in Africa. The product has been specifically designed to improve access to finance to customers in low banking coverage areas via the use of the mobile phone.

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