Jumia to Offer Payment Services to Egypt Firms With New License
- E-commerce giant working with Egyptian bank as looks to expand
- North African nation is seeing boom in cashless transactions
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Jumia Technologies AG, one of Africa’s largest e-commerce companies, plans to offer its digital payments services to Egyptian firms, seeking to capitalize on a surge of cashless transactions in the Arab world’s most populous nation.
The New York-listed firm, which has received a new payments license and is working with the National Bank of Egypt, wants to extend the services to other online retail platforms, the head of JumiaPay, Sami Louali, said in an interview. Egypt is already Jumia’s biggest market after Nigeria.