The e-commerce industry is booming with many more people using blockchain to make it even faster. In this light, Telcoin has entered into an agreement with Jumia to exploit blockchain for e-commerce.
Jumia is an online marketplace focusing on the African market. Presently, the company covers 15 countries including Nigeria. Telcoin is a provider of mobile crypto solutions.
Telcoin enters agreement with Jumia to rope in Nigerians in diaspora
Telcoin focuses on connecting with mobile networks globally. As a result, it enables an easy conversion between telecom mobile money, prepaid credit and postpaid billing platforms.
The African business scene is largely lacking in terms of proper technological mechanisms to facilitate business. Interestingly, the technology will enable Africans in the diaspora to be able to make purchases within their countries. As a result, the increased traffic will hopefully add to the earnings and vibrancy of African business.
According to Ms Lee-Ann Cassie, Head of Africa for Telcoin, their aim is to enhance the value of e-commerce transactions.
Currency conversion
“What we will focus on and explore is increasing the sales traffic from Nigerians in the diaspora adding value to cross-border e-commerce transactions as well as value-enhancing e-commerce transactions within Nigeria,” Cassie said.
On their part, Jumia believes the partnership will further solidify their commitment to the market they serve. According to Juliet Anammah, Chief Executive Officer, Jumia Nigeria, this is the best time for the partnership.
Anammah elaborates that the internet is spreading quite fast within the continent. As a result, many more people are getting online. Further, the growth of mobile money services imply that many more people are able to order and pay online.
“With this partnership, we can now serve Nigerians in the diaspora who are looking to convert their digital currency to shopping vouchers on our platform. We rely on and trust Telcoin to facilitate the currency conversion since digital currency is, in the interim, not a payment method on Jumia,” said Anammah.