Jumia, has embarked on a new strategic partnership with a Nigerian fintech company, CredPal, to offer an expanded ‘Buy Now, Pay Later (BNPL)’ service for consumers in Nigeria.
This innovative partnership will allow Jumia consumers to conveniently purchase products on the platform and spread their payments over a set period. Furthermore, the partnership will help drive cashless payments across the Jumia ecosystem.
Through this collaboration, Jumia Nigeria aims to make online shopping more accessible and convenient for its consumers. With BNPL, shoppers can now enjoy the flexibility of purchasing desired items without the burden of immediate full payment. This empowers them to better manage their finances and budget for essential and desired purchases. Additionally, consumers will be able to access this payment method at checkout, streamlining the purchasing process.
CEO, Jumia Nigeria, Sunil Natraj said, “we are excited to partner with CredPal to offer our consumers a seamless and convenient ‘Buy Now, Pay Later’ solution. This partnership aligns perfectly with our mission to make e-commerce more accessible and inclusive for all consumers.
“We remain committed to providing Nigerians with a wider range of payment options and fostering financial inclusion within the e-commerce space. The ‘Buy Now, Pay Later’ option will give our consumers more control over their finances and allow them to purchase the products they want at the exact time they need it.”
CEO, CredPal, Fehintolu Olaogun said “this partnership underscores our shared commitment to simplifying shopping experiences for everyone. At CredPal, we leverage innovative tech solutions to empower individuals in managing their finances more effectively. Teaming up with Jumia isn’t just about facilitating seamless purchases; it’s about supporting individuals in reaching their aspirations, step by step.”
As the e-commerce sector in Nigeria evolves, the introduction of multiple BNPL solutions underscores the importance of flexible payment methods in promoting financial inclusion and driving economic growth. Jumia’s partnerships with Easybuy and CredPal are pivotal in achieving these goals and supporting the digital economy.
