PalmPay, an African fintech with 30 million users, has entered a strategic partnership with e-commerce giant Jumia to enhance digital payment options for customers across Nigeria.
The collaboration aims to increase convenience for Jumia shoppers by integrating PalmPay’s payment platform into the e-commerce platform. “This partnership strengthens our commitment to enhancing the digital payments within our platform,” Sunil Natraj, CEO of Jumia Nigeria, said in a statement.
“By integrating PalmPay, we are providing more options for customers to access affordable and quality goods with the convenience of cashless transactions.”
This partnership has the potential to significantly boost transaction volumes for PalmPay, a strong competitor to JumiaPay, Jumia’s fintech arm. While JumiaPay processed $192 million in payments for 8.4 million orders in 2023, PalmPay reported a remarkable $5 billion in monthly transactions last year. This alliance offers a symbiotic relationship, allowing Jumia to tap into PalmPay’s vast user base, which in turn will drive increased financial volumes for the fintech.
To celebrate the partnership, PalmPay and Jumia are launching a Christmas campaign from December 11th to 30th. During this period, customers who make purchases on Jumia using PalmPay will be eligible to win cash rewards.
“We are proud to partner with Jumia as we bring together the best of fintech and e-commerce to redefine the online shopping experience,” said Sofia Zab, Chief Marketing Officer of PalmPay. “This strategic alliance aligns perfectly with our shared commitment to delivering a superior user experience and exceptional value to our customers.”
