Jumia, the leading e-commerce platform in Egypt, JumiaPay the fintech electronic payments platform, and valU the leading Buy-Now Pay-Later (BNPL) fintech platform in the Middle East and North Africa, have signed agreements to enable valU to become a payment solution via Jumia and JumiaPay.
This partnership allows JumiaPay as a payment gateway to manage the payment operations of valU consumers by linking valU and JumiaPay for electronic payment services. The deal will commence with an offer that clients will benefit from while shopping and paying in installments over 9 months interest-free through Jumia.
“Our partnership with valU will allow JumiaPay to become an electronic payment service provider for valU. This cooperation enables JumiaPay vendors to accept valU transactions as a method of payment which will increase their sales volumes”, said Tawfik Mahmoud, Managing Director of JumiaPay Egypt.
Walid Hassouna, CEO of the Non-Banking Financial Institutions at EFG Hermes and CEO of valU, expressed his thrill to be signing a partnership agreement with one of the largest e-commerce platforms in the Egyptian and African market. “Capitalizing on valU’s extensive experience in consumer financing services, we aim to help Jumia’s customers fulfill their needs enabling them to achieve a modern lifestyle without the financial burden.”
Eng. Hesham Safwat, CEO of Jumia Egypt expressed his happiness with this strategic partnership, “we are proud to have a leading brand like vaIU amongst our success partners, as the two companies aim to provide the best installment services, which in return will increase the number of consumers transacting on our e-commerce platform elevating the financial burden on them
Discussion about this post