CRESTHUB
CRESTHUB MAGAZINE
  • NEWS
    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    CBN increases Cash Withdrawals for Individuals and Organizations

    CBN increases Cash Withdrawals for Individuals and Organizations

    GDG Hosts DevFest Jos 2022

    GDG Hosts DevFest Jos 2022

    Peakfield Academy crowned Champions of The Axia Hub Tech Challenge

    Peakfield Academy crowned Champions of The Axia Hub Tech Challenge

    Bolt Drivers in Jos to Embark on a Three-day Warning Strike

    Bolt Drivers in Jos to Embark on a Three-day Warning Strike

    Amazon Web Services opens office in Lagos, Nigeria

    Amazon Web Services opens office in Lagos, Nigeria

  • FEATURED
    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    The Increase in Data Prices is a Big Challenge for Remote Workers in Nigeria

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How this Startup Founder turned his Passion for playing Video Games into a GameFi Company

    How this Startup Founder turned his Passion for playing Video Games into a GameFi Company

    The Reality of the Global Economic Slowdown is hitting the Tech Startup Sector in Africa

    The Reality of the Global Economic Slowdown is hitting the Tech Startup Sector in Africa

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

  • FINANCE
    CBN prohibits Foreign Banks from Offering Banking Services

    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

  • START UPS
    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

    Sky.Garden survives Shutdown, gets New Owners

    Paga launches its Naira Virtual Cards in Partnership with Visa

    Paga launches its Naira Virtual Cards in Partnership with Visa

    Nigeria’s Uber for Trucks, TruQ Launches in Abuja

    Nigeria’s Uber for Trucks, TruQ Launches in Abuja

    More Job Cuts at 54gene as CEO Quits Office

    More Job Cuts at 54gene as CEO Quits Office

    Nigerian Prop-tech startup, Spleet secures $2.6M seed to Expand its Product Offerings in Africa

    Nigerian Prop-tech startup, Spleet secures $2.6M seed to Expand its Product Offerings in Africa

  • PODCAST
CRESTHUB
  • NEWS
    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    CBN increases Cash Withdrawals for Individuals and Organizations

    CBN increases Cash Withdrawals for Individuals and Organizations

    GDG Hosts DevFest Jos 2022

    GDG Hosts DevFest Jos 2022

    Peakfield Academy crowned Champions of The Axia Hub Tech Challenge

    Peakfield Academy crowned Champions of The Axia Hub Tech Challenge

    Bolt Drivers in Jos to Embark on a Three-day Warning Strike

    Bolt Drivers in Jos to Embark on a Three-day Warning Strike

    Amazon Web Services opens office in Lagos, Nigeria

    Amazon Web Services opens office in Lagos, Nigeria

  • FEATURED
    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    The Increase in Data Prices is a Big Challenge for Remote Workers in Nigeria

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How this Startup Founder turned his Passion for playing Video Games into a GameFi Company

    How this Startup Founder turned his Passion for playing Video Games into a GameFi Company

    The Reality of the Global Economic Slowdown is hitting the Tech Startup Sector in Africa

    The Reality of the Global Economic Slowdown is hitting the Tech Startup Sector in Africa

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

  • FINANCE
    CBN prohibits Foreign Banks from Offering Banking Services

    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

  • START UPS
    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

    Sky.Garden survives Shutdown, gets New Owners

    Paga launches its Naira Virtual Cards in Partnership with Visa

    Paga launches its Naira Virtual Cards in Partnership with Visa

    Nigeria’s Uber for Trucks, TruQ Launches in Abuja

    Nigeria’s Uber for Trucks, TruQ Launches in Abuja

    More Job Cuts at 54gene as CEO Quits Office

    More Job Cuts at 54gene as CEO Quits Office

    Nigerian Prop-tech startup, Spleet secures $2.6M seed to Expand its Product Offerings in Africa

    Nigerian Prop-tech startup, Spleet secures $2.6M seed to Expand its Product Offerings in Africa

  • PODCAST
No Result
View All Result
CRESTHUB
No Result
View All Result
Home FINANCE

Jumia Partners With NBE, Offers Financial Services

by Nuel Umahi
August 11, 2021
in FINANCE, News
Reading Time: 2 mins read
0
Jumia Partners With NBE, Offers Financial Services
Share on FacebookShare on Twitter


Pan-African eCommerce platform, Jumia, has partnered with the biggest state-owned bank in Egypt, the National Bank of Egypt (NBE), to offer some financial services through its payment channels and business lines, JumiaPay. 


This partnership comes in after the NBE obtained an approval-in-principle from The Central Bank of Egypt (CBE) to engage JumiaPay in processing off-the-platform payments for third-party merchants on the Jumia eCommerce marketplace in Egypt.


As a result of the partnership, some services are now licenced on the JumiaPay business line for Egyptians, these services are Payment Service Provider (PSP), Payment Facilitator (PayFac) and Payment Aggregator (PA).


These licences will allow for ease of online banking, a medium for merchants to integrate several payment modes and also enable the onboarding process of customers for electronic payments on the platform. 


News of this partnership was revealed in Jumia Reports Second Quarter 2021 Results(PDF) which was released Tuesday, August 10, 2021. According to the report, the platform believes this partnership is a step in the right direction for The Jumia Group. 


Initially launched as JumiaOne in September 2017, the JumiaPay initiative is the fintech vertical angle of the Jumia eCommerce platform, established as a third-party payment solution to provide a secure and rapid payment system for merchants and service providers.


Although, the question as to how JumiaPay intends to navigate a competition with Fawry, an Egyptian mobile money startup that is already a Unicorn, is not uncalled for. 


With the current promising outlook of the eCommerce sector in Egypt, this partnership might go a long way in helping JumiaPay scale amidst Egypt’s stringent Know-Your-Customer (KYC) requirements, and a hopeful extension of this to other African countries.

Related

Tags: JumiaNBE
Previous Post

WAEC Insists On Use Of NIN For Exam Registration In 2022

Next Post

Decagon Raises $1.5 Million To Train Software Engineers

Next Post
Decagon Raises $1.5 Million To Train Software Engineers

Decagon Raises $1.5 Million To Train Software Engineers

Nigeria to Lift Twitter Ban Soon

Nigeria to Lift Twitter Ban Soon

No Result
View All Result

CRESTHUB MAGAZINE

Popular Posts

  • The Hub: The Importance of Financial Literacy in Business
  • Airtel gets 5G and 4G Spectrum for $317 million
  • Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology
  • The Hub: The Impact of Technology on Music Experiences
  • 2022: An Adventurous Year for CRESTHUB

Cresthub

Learn, Start and Grow your Business with Innovative Business Solutions at Cresthub.

Company

  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

Products

  • Cresthub Magazine
  • Cresthub Podcast
  • Cresthub Insight

Socials

Facebook Twitter Youtube
  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy

© 2022 Cresthub Media

No Result
View All Result
  • NEWS
  • FEATURED
  • BLOCKCHAIN
  • FINANCE
  • START UPS
  • PODCAST

© 2022 Cresthub Media

Cresthub newsletter
THE WEEKLY ROUND UP

Join our newsletter to get first hand insight in tech and start up happenings in Nigeria and Africa at large.

Enter your email address