Jumia has extended its electronic payment (e-Payment) solution JumiaPay from Nigeria to five other African countries.
JumiaPay was introduced in 2016 as the payment arm of Jumia and is presently available in six African countries of Nigeria, Egypt, Ivory Coast, Ghana, Morocco and Kenya.
This was disclosed by the Chief Executive Officer of Jumia Nigeria, Mrs. Juliet Anammah, during a press conference in Lagos on Thursday.
According to her, JumiaPay remained a key focus area of the company, which is unarguable, the largest online e-commerce shopping platform in the whole of Africa.
“We have also expanded the scope of JumiaPay beyond our physical goods marketplace. As of December 31, 2018, JumiaPay was only available within our physical goods marketplace. It is now also available within our on-demand services, Jumia Food, and hotel booking portals, Jumia Travel, in selected countries,” she said.
She expressed optimism that the expansion will boost Jumia’s vision and mission, explaining that collectively, these six countries represented a combined population of almost 440 million people in 2018, according to data from the United Nations Population Division.
Mrs. Anammah also disclosed that the company will continue to expand the range of financial and digital services available from third parties, powered by JumiaPay, offering its consumers an increasing range of relevant every day service.
He emphasized that, in Nigeria for instance, consumers can now access, micro-loans offered by a local genetic startup, alongside event tickets offered by a local event ticketing provider. In Egypt, in the second quarter of 2019, Jumia started distributing services from a local deals provider allowing consumers to purchase their vouchers on the Jumia platform, using JumiaPay.
Recall, in this TechEconomy.ng’s report, it was noted that the recent €50 million investment by Mastercard into Jumia, in a concurrent private placement with its Initial Public Offering, marked another milestone in the development of JumiaPay and validation of its potential to become a full-fledge fintech product.
Jumia is partnering with Mastercard on a number of initiatives, including the development and marketing of co-branded products (i.e., cards, virtual cards and quick response codes).