More tertiary institutions are embracing theeTranzact’s payment system across the country.

At the last count, six universities and polytechnics have installed the solution, tas well as campusesof the Nigerian Lawchool.

eTranzact, Nigeria’s premier multichannel payment solutions, which enables students pay their tuition and other school-related charges online. Wit this, the schools will be able to monitor payments as they are made, thereby reducing the time it takes to confirm payments.

The payment system, initiated by eTranzact in conjunction with Socketworks and some banks, have been installed at all the campuses of the Nigerian Law School, University of Ilorin, University of Jos, University of Ibadan, Ambrose Alli University, Covenant University, and the Yaba College of Technology.

Many more schools have commissioned the payment system. Before long, all tertiary institutions the country would be linked to the online payment system, says Mr. Valentine Obi, Chief Executive Officer of eTranzact.

The payment solution, says Mr Obi, is especially suited to tertiary institutions in Nigeria because of the large intake of students. These students make payments from many points. Keeping track of these payments when they are made was difficult and expensive before now.

"Now, any of these schools can track from a remote location all the payments from students in real time. The administrative cost of monitoring payments made at different banks and to different accounts has been eliminated," he explained.

"The cards we are issuing to the students will be useful, even after graduation. It gives the holders access from their phones to services such as money transfer, paying for goods and services at point of sale terminals or over the internet, and topping up the airtime of their phones," says Mr. Obi.

The cards also allow the students register for courses and check results online, thereby eliminating the time-consumed filling forms manually. "As a student of any of these schools, you are automatically given a card that would enable you make all your payments and register online. The card enables mobile commerce for all card holders. So that from the comfort, privacy and mobility a mobile phone gives, the cardholder could transfer money, or receive money without the attendant stress of filling forms and queuing up at a bank hall," he emphasised.

The eTranzact platform is linked to majority of the banks in Nigeria, and very shortly, will be linked to all banks operating in Nigeria, said Folake Olabiyi of the Business Development Unit of eTranzact. "What this means is that wherever a cardholder’s bank account is domiciled in Nigeria, the person could carry out different transactions using the internet or a mobile phone. eTranzact is changing the way Nigerians live, work and play, making it easier for people to pay for transactions, whatever the nature of transactions carried out."

"Nigerian educational institutions are entering a new era, increasingly adopting creative technological offerings to enhance the benefits students derive from advanced learning," concluded Mr. Obi.