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“Those days of saving up all you had only to buy one single product are over,” Jumia boasts.
Nigerian ecommerce has always had a knack for being adaptive. Some unique implementations we’ve seen are cash-on-delivery, the popularity of scooters and the establishment of marketplaces that seeks to bring small merchants online.
Nigerian online shoppers can now pay for their products via monthly installments. This comes after the major Rocket Internet-backed Jumia partnered with one of the country’s biggest banks, First Bank of Nigeria.
The deal is only available to customers with a First Bank Naira Card, though people can still sign up for the card through the Jumia website. The payment transaction will be processed within 72 hours, while customers will enjoy 45 days of free interest.
While a smart move to align oneself with leaders in the online shopping industry, Abiodun Ajadi from First Bank of Nigeria says that the partnership is important to help empower customers:
Jumia Nigeria has carved a niche for itself both as an innovator and market leader. At First Bank, we pride ourselves in our ability to create value for our customers through our strategic and innovative partnerships. Associating with Jumia is in consonance with our culture of putting the customer first always. This unique partnership takes the customer experience to another level like we have never seen before in ecommerce.
Jumia was launched about three years ago and has most recently raised a nice US$150 000. It’s also backed by Africa Internet Group, Rocket Internet and MTN.