JumiaPay transactions reached N3.2 million in the first quarter (Q1) of 2022 representing 32 percent growth, compared to N2.4 million in the first quarter of 2021.
According to the company’s data, the volume of transactions for food delivery rose 32 percent in the first quarter of 2022 compared to 30 percent in the same period in 2021.
The growth in JumiaPay transactions for e-commerce and food delivery platforms overtook the growth of JumiaPay app. 34 percent of orders placed on the Jumia platform in the first three months of 2022 were completed using the JumiaPay app, compared to 37 percent in the first three months of 2021,
The company in its Q1 2022 financial report released Tuesday, 17 May 2022, also disclosed that the Central Bank of Nigeria has granted it the license to operate as a payment service solution provider (PSSP) in Nigeria.
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This means that the company is now licensed to establish payment processing portals and develop payment solutions. According to Jumia, it means they can now process payments on behalf of third parties.
This is sure to boost JumiaPay’s numbers, which saw a 36.7 percent total portfolio value (TPV) increase from $51.7 million in march 2021 to $70.7 million in march 2022.
The company says it’s working with the Consultative Group to Assist the Poor, which is a global partnership of more than 30 leading development organizations, focused on financial inclusion to improve the lives of low-income populations.
However, as a result of its partnership, an e-doctor service on the jumiaPay app in collaboration with a third-party service provider will help workers, sellers, and consumers to have general access to doctors remotely for a subscription fee of $1.
