Klump, a Nigerian buy now, pay later (BNPL) startup, has partnered with Jumia to introduce instalment payments at the e-commerce platform’s checkout, embedding consumer credit directly into online shopping.
The integration allows Jumia customers to compare financing options from multiple banks without leaving the checkout page, making it easier to spread the cost of eligible purchases over time.
Klump provides the technology that connects shoppers with partner lenders, which handle credit assessments, approve applications, disburse funds and assume the associated credit risk, rather than issuing loans itself.
According to Klump Co-founder and Chief Executive Officer, Celestine Omin, the partnership seeks to make affordable consumer credit available wherever Nigerians shop;
“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” – Omin
The agreement also expands Jumia’s embedded finance offerings. The e-commerce platform already works with BNPL providers such as CredPal and Easybuy, with Klump becoming the latest fintech to integrate financing directly into its online checkout.
To access the service, shoppers select eligible products before choosing Pay with Klump during checkout. They are then presented with financing offers from participating lenders, complete a credit assessment using their banking and identification details, and, if approved, pay an initial deposit of between 20% and 30% of the purchase price. The remaining balance is repaid in instalments.
Klump currently connects customers with financing from First Bank, Wema Bank, Renmoney and Credit Direct, with loan amounts ranging from ₦1,000 to ₦2.6 million and repayment periods of six to 12 months. Each lender determines its own interest rates and lending conditions.
To qualify, applicants must be at least 21 years old, have an active Nigerian bank account with regular salary or business income, and provide a valid government-issued identification. Some lenders may also require additional verification, including facial recognition or one-time password authentication.
Klump said customers who return purchased items will not automatically receive cash refunds. Instead, they can use the value to purchase another product of the same price or transfer it to their Klump Wallet to buy a higher-priced item.
