Jumia, the leading e-commerce platform in Africa, and JumiaPay have signed a joint memorandum of understanding (MoU) with Contact Credit Technologies, the digital consumer finance arm of Contact Financial Group, to launch new services in the field of financial services, especially consumer finance, on the various Jumia platforms.
The partnership allows Jumia to provide different payment methods to facilitate the purchase process and create various financial solutions for Jumia and Contact customers. Contact Group in general and Contact CreditTech in particular pay great attention to digital transformation in accordance with the Egyptian state’s vision 2030 and the endeavor to expand the base of digital services provided to the Egyptian market.
Ahmed Samir Kamel, Managing Director of Contact Credit Technologies, indicated that the company is always looking to create innovative financing solutions that are unique to Contact and fit customers’ financial needs to enable them to pay their dues in installments to keep pace with the modern lifestyle without increasing the financial burdens on resources.
For his part, Abdel Latif Allama, Vice President of JumiaPay, said: “We are proud of our leadership in the Egyptian market, as Jumia and Jumia Pay are always striving to provide unprecedented services to their customers, whether existing or new. Through our strategic partnership with Contact, we will help our customers experience a new shopping experience in an instant.” Contact financing services will be available to all Jumia customers who do not have to be previous customers at Contact.
For his part, Saeed Zaatar, CEO of Contact Financial Holding, said that the partnership with Jumia and Jumia Pay puts the needs of customers first. He added that through this partnership, the needs of the platform’s users will be met, whether those dealing with the banking system or not.
Zaatar revealed that the most important characteristic of Contact is the speed in responding to everything related to the customer’s financial needs and providing services in simple ways, which contributes to facilitating work movement and serving the customer to the fullest. This comes from our extensive experience in the field of finance in Egypt, which began more than 20 years ago.