Techpoint.Africa reports that the partnership comes after the NBE obtained an approval-in-principle from The Central Bank of Egypt (CBE) to engage JumiaPay in processing off-the-platform payments for third-party merchants on the Jumia ecommerce marketplace in Egypt.
As a result, some services are now licenced on the JumiaPay business line for Egyptians; these include PSP, payment facilitator (PayFac), and payment aggregator (PA). The licences will allow for ease of online banking, a medium for merchants to integrate several payment modes, and enable the onboarding process of customers for electronic payments on the platform.
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