Valentine Obi: More About Digital Transactions

An Electronic Transaction is the selling or buying of goods or services, whether done for businesses, families, individuals, governments and other public or non-public organizations, conducted over computer-mediated networks. Electronic dealings have been going on for years. Financial services have been at the forefront of growing this technology, allowing to make electronic transactions quickly and easily.

Being E- Transaction common these days. There arises the privacy Concern of accounts and payments. Valentine Obi from goes through all the problems and then started his business named eTranzact International Ltd. This Company provides safe electronic transactions that may be related to banking or nonbanking department. That helps the public to do transactions without any risk. He works for providing Customer secured, convenient and effective means to make and receive payments. He is running his Business in many of the Places like Nigeria, Ghana, Kenya, Zimbabwe, South Africa, Cote d’Ivoire, and the United Kingdom. This Organization which cut across virtually all aspects of the e-payment space; ATM, Internet, POS, and Mobile. This Company made doing any transaction very easily and quickly. Some advantages of doing transactions electronically are :

Valentine Obi : CEO

· Powerful and Convenient:- Going cashless decrease the rate of the hassle of drawing cash and frees from the Worries that whether cash-in-hand is enough to make a payment or not. With cashless and digitized payment system it has become easier for the people. This also speeds up the method of the economic transaction.

· Increased Visibility:- Electronic dealings of the money have increased  the transparency as all the digital transactions are recorded.

· Can Help Government Track Money Activity:- With financial transactions records, Government can track the movement of the money which enables to track the illegal and black money transactions taking place in the country. This can be of great help to remove crime from the country and can help to emerge as a better and corruption free country.

· Businesses:- Cashless payments removes the problem of fake money and illegal cash totally. Digital payments can also remove the risks of storing cash and fear of money fraud.

· Easy tracking:- Cashless and digital payments also provide the facility for tracking the spending expenditure in an easier way. Recorded  transactions can  help people to improve their budget more efficiently and can also help to save more.

Going through all these advantages, Valentine Obi launched the products related to electronic transactions that make public free from risks. The electronic transaction is not a new concept and it existed long before the concept of cash, here goods and services were given in exchange for Money.

Digital transactions are the bit similar to that to barter system as in both the cases there is no transaction of physical Cash. Electronic Transactions have become possible with the use of debit cards, credit cards, and mobile wallets like Tez, Phone pay, Paytm, online bank account transaction and also through digital currencies such as bitcoin. All these have made the process quite quick and secure for the people. As now there is no need to risks about cash and going banks and ATM frequently. But there is a lot more to consider than the ease and benefits. There are some concerns related to privacy and control as every Buying and transaction are now recorded somewhere and monitored by someone. While a majority of people don’t mind this, some people want their transactions and purchases to remain private due to multiple reasons.