With Over 10,000 transaction daily across every part of The Gambia. Transxact is becoming of the biggest FINTECH company in The Gambia.

TX will be the home of innovation as we strive to launch more innovative products to spice up the existing ones. We are confident TX will soon become a household name in The Gambia. This will be achieved within a relatively short period of time as we continually take our customers by surprise as enshrined in the TX tagline which reads “Full of Wonders”.The environment remains a very important factor to our continued existence and business success. As part of our corporate social responsibilities, we vow to preserve the natural environment in which we find ourselves operating as a business and to join the fight against global warming and climate change. Daily transaction volume exceeding 10,000, and a widespread presence with a dozen of agents across the country, TX has firmly established itself as a key player in the energy distribution sector and financial industry. This case study explores how the company has leveraged its extensive network and high transaction volume to deliver efficient and reliable services to the people of The Gambia, contributing to the nation's economic growth of the country.

Services provided

As known to many, the money remittance industry is one of the largest in the world in terms of volumes. Globally, Africa continues to register significant growth in this sector nearing the biggest continent in terms of remittances. The industry is characterized by the existence of key MTOs (Money Transfer Operators) such as Western Union, Money Gram, RIA, to name but a few. Although, some other companies have recently set up in a bid to compete the big players, there is still big vacuum to be filled. Multiples surveys have equally shown that people use three to four different platforms for slightly similar transactions. For example, one platform for Payment Processing, another for Money Transfer and another for E-Commerce. TX combines all these into One Solution – A one stop shop for all.... Some details are given herein below on the Service lines currently featured on the TC platform:

• Payment Processing: The Payment Processing module encompasses the Cash Power Purchase (sale of prepaid electricity token), Mobile Airtime top up, Settlement of bills for purchase of goods and services from our approved merchants including school fees, medical bills, restaurant bills, amongst others.
• Money Transfer:The Gambia being a heavily remittance dependent country presents great opportunities for Financial Institutions operating in the Money Remittance Industry. With the introduction of our TX Transfer, we intend to have a nationwide coverage in the USA and also several other pay-out countries throughout the world particularly Africa. This will avail not only Gambians the opportunity to remit money to their loved ones at very competitive rates but Africans as a whole. All statistics reveal that TX Transfer would be the biggest remittance platform after twelve (12) months of operation.
• E-Commerce: Recently, the world has seen a growth in E-Commerce players and users. People have changed from traditional ways of buying and selling to a digital solution. The recent COVID 19 Pandemic is a perfect testimony to this. With the lockdown, people’s desire towards E-Commerce has increased making them more addictive to such platforms. Like mentioned earlier, all the E-Commerce giants have seen a surge in their revenue lines this year.

Results

• The Agents onboarded get to have a web portal where they can manage their account and users they employed.
• The client received a team of experts ready to take care of daily challenges and tasks.
• A Mobile Application running on POS devices are given to agents to conduct their transactions.