Temu, a global online marketplace with a wide variety of products, has strengthened its partnership with digital payment provider Checkout.com to enhance payment processing and improve customer checkout experiences.
Since its launch in 2022, Temu has relied on Checkout.com for secure payment transactions worldwide. With this expanded collaboration, Checkout.com will now process payments across 30+ markets, supporting major credit cards, digital wallets, and regional payment solutions like Tamara, a buy-now-pay-later option in the Middle East.
Utilizing Checkout.com’s AI-driven payment optimization engine, and intelligent acceptance, Temu aims to streamline transactions and minimize payment failures.
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Speaking on the partnership, a Temu spokesperson said,
“We are proud of the reliable and trustworthy experience we provide to our consumers alongside our everyday best offers. Checkout is an important partner supporting our mission to provide quality affordable products with its global reach and expertise, enhancing the digital payments experience for our customers”.
Also commenting,
Brian Sze, General Manager of Checkout.com for the Asia-Pacific region said,
“We are excited to empower Temu’s merchants with Checkout.com’s secure, stable, and convenient payment solutions, allowing them to focus more on their core business while ensuring a seamless checkout experience for consumers on the Temu platform”.
Temu Now Accepts Payment in Nigeria With a Verve Card
In a significant development for Nigerian shoppers, Verve, Africa’s largest domestic payment card brand, has secured a strategic partnership with Temu. This allows Verve cardholders in the country, to make direct Naira payments on both platforms, eliminating foreign exchange hurdles and simplifying cross-border shopping.
Previously, Nigerian consumers could only shop on Temu using Visa, Mastercard, or virtual dollar cards. With Verve now fully integrated, shoppers can seamlessly access affordable products without currency conversion complexities.
Similarly, AliExpress has now adopted Verve payments, further easing online transactions for Nigerian users. Beyond expanding its reach, Verve is advancing payment innovation with contactless technology, enabling faster, more secure transactions across digital and physical channels. With over 70 million Verve cards in circulation, users can now enjoy seamless payments on platforms like Google Play, YouTube Premium, Netflix, Uber, and Amazon Prime.
These strategic moves by Temu, Checkout.com, and Verve reflect a growing commitment to enhancing digital commerce and ensuring secure, borderless, and frictionless payment experiences for consumers worldwide.
Temu’s Growth in Nigeria
Temu officially launched its operations in Nigeria on Wednesday, November 27, 2024, to disrupt the local market with its direct-from-manufacturer model.
Since its launch, the Chinese e-commerce platform has seen strong consumer uptake. A few days after entering the Nigerian market, it became the most downloaded app with more than 500 million downloads on the Android store
Offering a wide range of products from electronics to home goods and sporting equipment, the online marketplace makes it easier than ever for Nigerians to find great deals and upgrade their lifestyles without breaking the bank. Temu’s popularity is part of the explosive growth in Nigerian e-commerce, where industry revenues are projected to climb 7.81% from a year ago to US$7.43 billion in 2025, while user numbers are estimated to rise 15% to 28.6 million by 2029.
Underpinning this popularity is the platform’s ability to offer quality products at affordable prices. It also allows consumers to purchase products directly from manufacturers, eliminating middleman markups and handling costs. This direct connection results in lower prices, closer to wholesale levels.
Beyond consumer benefits, Temu’s entry catalyzes the growth of Nigeria’s e-commerce ecosystem. It brings competition to the market, forcing existing players like Jumia, and Konga, amongst others to innovate, improve their offerings, and enhance customer service.
Notably, Temu’s strategy of leveraging social media and digital marketing to engage with customers also holds promise in Nigeria, where social platforms are integral to daily life. By harnessing the power of social influence and creating engaging content, the platform can effectively build brand loyalty and drive sales.