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Jumia partnership with Equity Bank Might shakes Lipa na M-pesa.

The popular Lipa Na M-Pesa, gives M-Pesa subscribers the option of paying for goods and services using cash stored on their M-Pesa accounts. For a period of more than two years, it has become more popular among merchants. It’s apparent that everyone transfer his daily transaction on the platform, when paying bill, buying of goods and service.

Lipa Na M-Pesa allows payments of goods and service priced between 10 to 70,000 shillings. The transaction charges are mostly free, though one may experience a small fee when paying on some products and services, like paying for fuel.

However, Kenyan financial services provider Equity Bank has entered into a long-term deal with e-commerce firm Jumia to offer its customers the EazzyPay payment method. Customers purchasing on the Jumia online platform will be able to pay directly from their Equity Bank account through EazzyPay, which is integrated on the Jumia site. Equity Bank is offering them instant EazzyLoans should they not have ready cash to purchase items.

The loans are accessible through EazzyApp which can be downloaded for free from Google Playstore or Apple’s App Store. Jumia hopes to tap more into the Equity Bank clientele base through the partnership and is one of the first developers to adopt the EazzyAPIs. The move will also in turn boost e-commerce uptake in the country which is growing by double digits.

Through EazzyAPI, the bank is open for similar partnerships with other e-commerce players. Equity Bank has obtained the prestigious Global Payment Card Industry Data Security Standard 3.1, becoming the first Kenyan bank to do so. The bank has recently partnered with a Global Security Operation Centre (GSOC), too.

 

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