Funding Model Introduction (USD vs LCY)

1. Payment Collection Methods

USD Payment

Currently, countries supporting USD collection: Nigeria, Kenya, Ghana, Uganda

Local Currency Payment

Currently, only the following are supported: Nigeria NG (Naira, NGN), Ghana GH (Cedi, GHS), Kenya KE (Shilling, KES), Senegal SN (West African CFA Franc, XOF), Côte d’Ivoire IC (West African CFA Franc, XOF), Uganda UG (Shilling, UGX). Other countries are in preparation.

Based on the different payment collection channels of sellers, there are currently two modes:

Mode 1: Payment Provider. The seller completes the registration of the payment provider and links it to the Jumia Seller ID. The payment provider provides the seller with local currency collection account information. The seller submits a local currency collection application to Jumia and authorizes this account as the Jumia collection account in the backend. Jumia will complete the account review within 10 working days, and approved sellers will receive local currency collection in the next collection cycle. The payment provider offers local currency exchange services (such as USD, RMB, etc.). To view the activated payment providers, please click here.

Mode 2: Merchant’s Own Local Account or Local Payment Agent. This mode supports the seller’s own local bank account for collection or the seller’s authorized local collection agent for collection. The seller submits a local currency collection application to Jumia and authorizes the local account as the collection account in the backend. Jumia will complete the account review within 10 working days, and approved sellers will receive local currency collection in the next collection cycle.

2. Billing Cycle

USD Payment: Each calendar month is divided into two cycles. The 1st to 14th of each month is the first-half billing period, and the 15th to 30th (31st) is the second-half billing period. When the cycle is not over, the bill is in an open state; after the cycle ends, the bill is in a closed state.

Local Currency Payment: Based on each calendar month, the billing cycle is 7 calendar days.

3. Payment Date and Settlement Exchange Rate

3.1 Payment Date

(1) USD Payment: Payments are collected twice a calendar month, usually on the 5th working day (local country time) after the end of each billing cycle.

Special Notes:

  • If it is a local national holiday, the collection date will be postponed to the next working day in local time.
  • The collection date displayed on the bill is the date of the local country. Due to time differences, please confirm whether the payment has been successfully collected one day after the collection date.

(2) Local Currency Payment: Payments will be credited to your authorized local currency account within 5 working days (local country time) after the end of each billing cycle.

3.2 Payment Exchange Rate

If using USD Payment, Jumia will settle according to the exchange rate corresponding to the collection period (for historical exchange rate records, please click here);

If using local currency Payment, there is no impact from exchange rates.

4. Switching between USD and local currency accounts

The method is the same as adding a repayment account; please refer to the Local Currency Funding section for details.

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