Mastercard to buy shares in Jumia

Monday 1 April 2019 13:27 CET | News

Mastercard has allegedly shared its plan to become a shareholder in Jumia to support the digital transformation in Africa, according to Punch Nigeria.

The investment is subject to certain conditions, which are not stated yet.

The two companies first partnered in 2016 with the launch of Mastercard Payment Gateway Solutions in several markets and launch of JumiaPay, the payment service of the Jumia platform that facilitates transactions for consumers and sellers.

Under the new agreement, the companies would look to build on Mastercard’s presence across Africa, bringing its payment solutions and technologies to spur development in new customer segments. In addition, the two partners agreed to build on their current efforts to accelerate the adoption of electronic payment platforms among consumers and merchants.

For more information about Mastercard Payment Gateway Services, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: MasterCard, ecommerce, Africa, Jumia, Mastercard Payment Gateway Services
Countries: World