{"id":553450,"date":"2021-12-05T03:52:30","date_gmt":"2021-12-05T03:52:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/05\/jumia-taps-into-egypts-e-payment-market\/"},"modified":"2021-12-05T03:52:30","modified_gmt":"2021-12-05T03:52:30","slug":"jumia-taps-into-egypts-e-payment-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/05\/jumia-taps-into-egypts-e-payment-market\/","title":{"rendered":"Jumia taps into Egypt\u2019s e-payment market"},"content":{"rendered":"

<\/a> Jumia taps into the e-payment Egyptian market: <\/strong>Jumia is looking to expand its e-payment footprint in Egypt with a partnership with the National Bank of Egypt (NBE) that will see it provide new third-party services to merchants outside of its JumiaPay platform, Bloomberg<\/a> reports. The company, one of the continent\u2019s largest e-commerce players, has received its e-payment license from the Central Bank of Egypt and is looking to extend its service to other online retail platforms, JumiaPay head Sami Louali told the business information service.<\/p>\n

In the pipeline:<\/strong> The company said earlier this year that it will act as a payment service provider, offer payment facilitation, and provide a payment aggregator, allowing merchants to process payments off-platform. \u201cThese are significant developments for JumiaPay and allow us to deploy our payment services off-platform in Egypt, in partnership with NBE,\u201d the company said in its 2Q earnings release (pdf)<\/a>.<\/p>\n

\u201cOpening up the platform, starting in Egypt, will enable additional monetization,\u201d<\/strong> Jumia co-CEO Sacha Poignonnec said. \u201cUltimately this will boost our revenues.\u201d<\/p>\n

The rollout is currently in its pilot stage: <\/strong>\u201cWe have just done our first off-platform transaction,\u201d Louali told Bloomberg. \u201cFor the next month or two we are in the pilot phase and on-boarding some merchants, after that we will be ready to scale.\u201d<\/p>\n

JumiaPay is having a good 2021:<\/strong> The number of JumiaPay transactions rose by a third to 3 mn in 3Q2021, making up almost 36% of the e-commerce platform\u2019s orders, according to the company\u2019s 3Q earnings presentation (pdf)<\/a>. Some USD 64.5 mn was sent over the app during the July-September quarter, pushing its shares of the company\u2019s gross merchandise value to 27.1%, up from 25.4% in the equivalent period last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jumia taps into the e-payment Egyptian market: Jumia is looking to expand its e-payment footprint in Egypt with a partnership with the National Bank of Egypt (NBE) that will see it provide new third-party services to merchants outside of its JumiaPay platform, Bloomberg reports. The company, one of the continent\u2019s largest e-commerce players, has received […]<\/p>\n","protected":false},"author":1,"featured_media":553451,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7323],"tags":[199,72,290,183,592,248],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","tag-e-commerce","tag-enterpriseam","tag-financial-inclusion","tag-fintech","tag-jumia","tag-national-bank-of-egypt","wpautop","entry"],"acf":{"mongo_id":"4f6fe007-c8fc-46be-8f1a-2f6be3d9ba7a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/221.jpg","photo_position":"above","related_issue":[553441],"teaser":"","voice_url":""},"yoast_head":"\nJumia taps into Egypt\u2019s e-payment market - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/05\/jumia-taps-into-egypts-e-payment-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jumia taps into Egypt\u2019s e-payment market\" \/>\n<meta property=\"og:description\" content=\"Jumia taps into the e-payment Egyptian market: Jumia is looking to expand its e-payment footprint in Egypt with a partnership with the National Bank of Egypt (NBE) that will see it provide new third-party services to merchants outside of its JumiaPay platform, Bloomberg reports. 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