The Bank aims to grow its digital payments by leveraging on Jumia’s Black Friday and catalyzing EazzyPay uptake via the EazzyApp as the retailer grows its transactions.
Kenya’s leading financial services provider, Equity Bank, has entered into a long term deal with e-commerce retailer, Jumia, to offer their customers a seamless online payment option known as EazzyPay.
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. Furthermore, 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.
Sam Chappatte, MD Jumia said,
“We are excited to partner with the leading bank in Kenya to provide our customers with a seamless online payment option. We are confident they will find the EazzyPay mode secure and convenient as well. This is a major milestone for e-commerce and banking in Kenya
On his part Equity Bank’s CEO, Dr. James Mwangi, noted that the Bank is keen on supporting its customers who shop on the platform to make payments easily.
“Equity Bank is always exploring ways to fulfil the aspirations of its millions of customers. Our partnership with e-commerce platforms like Jumia would give an impetus to e-commerce and bring lots of value to our retail and SME customers,” he added.
Jumia hopes to tap more into the Equity Bank clientele base through the partnership enhancing their consumer journey through a reliable and more convenient platform as it becomes 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. To enhance customer security, Equity Bank has obtained the prestigious Global Payment Card Industry Data Security Standard 3.1 (PCI DSS 3.1), becoming the first Kenyan bank to do so. In addition, the Bank has recently partnered with a Global Security Operation Centre (GSOC) in line with the Bank’s strategic vision of providing secure Banking services to its customers.