Nigerian buy now, pay later (BNPL) fintech Klump has partnered with Jumia to introduce instalment payments at checkout, giving shoppers a more flexible way to pay for their purchases.
With the new integration, customers shopping on Jumia can access financing from multiple banks without leaving the platform. Instead of applying for a loan elsewhere before making a purchase, eligible shoppers can complete the financing process directly during checkout.
Klump does not provide the loans itself. Instead, it acts as the technology platform connecting customers with partner lenders, who assess applications, approve loans, provide the funds, and take on the credit risk.
The partnership is another step in Klump’s mission to make consumer credit more accessible by embedding financing into the online shopping experience.
Announcing the partnership on LinkedIn, Klump Co-founder and CEO Celestine Omin said:
“When we started Klump, our mission was simple: give Nigerians access to affordable credit wherever they shop. Today, we’re excited to partner with Jumia, bringing instalment payments to one of Africa’s biggest marketplaces. Klump now powers instalment payments for two of Nigeria’s largest e-commerce platforms.”
The collaboration also strengthens Jumia’s growing range of flexible payment options. Klump joins other BNPL providers already available on the platform, giving shoppers more financing choices when making purchases.
Customers shopping on Jumia can select eligible products and choose “Pay with Klump” at checkout. They are then presented with financing options from different lending partners.
After selecting a lender, customers complete a credit assessment by providing their banking information, a valid government-issued ID, and any additional verification required by the lender. If approved, they pay an initial deposit of between 20% and 30% of the purchase price, while the remaining balance is spread across monthly instalments.
To qualify, applicants must be at least 21 years old, have an active Nigerian bank account with regular salary or business income, and meet the lender’s verification requirements.
Rather than offering a single loan product, Klump allows customers to compare financing offers from different lenders in one place.
Current lending partners include First Bank, Renmoney, Credit Direct, and Wema Bank, each offering different loan limits, repayment periods, deposit requirements, and pricing.
Loan amounts currently range from ₦1,000 to ₦2.6 million, with repayment terms of six to twelve months, depending on the lender.
Klump does not determine interest rates or lending terms. Those decisions are made by the individual financial institutions providing the loans. Customers whose banks are not among the supported institutions can still apply through lenders such as Renmoney and Credit Direct, which do not require applicants to hold accounts with them.
If a customer returns an item purchased through Klump, the approved loan is not automatically cancelled. Instead, the customer can use the value of the returned item to purchase another product of the same value or add the amount to their Klump Wallet to buy a more expensive item, rather than receiving a cash refund.