EDENRED (EPA:EDEN) - Edenred: Edenred launches its Corporate Payment services offer in Africa with Jumia Travel

Transparency directive : regulatory news

19/02/2019 08:45

Press release
February 19, 2019

EDENRED LAUNCHES ITS CORPORATE PAYMENT SERVICES OFFER IN AFRICA WITH JUMIA
                                      TRAVEL

Jumia Travel, Africa's top online hotel booking portal and part of Jumia, the
leading e-commerce operator on the African continent, has teamed up with
Edenred, the leading provider of transactional solutions for companies,
employees and merchants, in order to facilitate and secure the payment of its
25,000 partner hotels.

A digitalized payment method to optimize a fast-growing market

Jumia Travel has chosen Edenred's Corporate Payment services offer to roll out
a simple and secure instantaneous digital payment solution, based on single-use
virtual cards, for its network of hotels. Every time a user makes a booking,
Jumia Travel can pay the corresponding hotel with a single-use bank card
number, issued specifically by Edenred Corporate Payment. With this offer, the
Group combines the issuing capacity of its payment platform with the interface
developed by CSI, a North American fintech company, of which Edenred finalized
the acquisition in January 2019.

The hotel owner receives the confirmation and the transaction instantaneously.
This solution will enable smoother relations between Jumia Travel and its
network of partners, compared with the alternatives on offer previously, such
as bank transfers, that did not optimize the management of payments. Moreover,
all the payments using virtual cards are systematically identified, tracked and
totally secure.

A partnership in line with Edenred's strategy

This partnership is in perfectly aligned with Edenred's strategic Fast Forward
plan that includes the development of innovative corporate payment services to
supplement the Group's Employee benefits, Fleet & Mobility Solutions, and
Incentive and rewards offer.

It also demonstrates the success of Edenred's Corporate Payment solutions in
the travel sector, following the conclusion of an unprecedented partnership
with the International Air Transport Association (IATA) in July 2017, providing
for the development of the IATA EasyPay payment scheme meant for travel agents
to purchase airplane tickets, and which is currently being deployed in more
than 115 countries.

The partnership with Jumia Travel consolidates Edenred's position in Africa,
where the travel sector is growing strongly, much like the hotel industry,
whose revenue on leading markets is expected to grow annually by more than 7%
until 2022. This growth is being fueled to a large extent by the emergence of
new transactional schemes, driven by the explosion of mobile payment and
e-commerce, which are both sources of new opportunities for the Group. In
January 2018, Edenred teamed up with the Partech Africa fund, worth more than
EUR125 million, whose mission is to invest in young, high-growth companies that
have a firm foothold in these new transactional solutions.

"Our Edenred Corporate Payment solution offers numerous benefits, such as
instantaneous, multi-currency settlements and the simple payment of hotel
owners," explains Marc Divay, General Manager of Edenred Corporate Payment. "We
are consolidating our leadership in the management of simple and secure
instantaneous digitalized payment schemes."

"The payment solution provided by Edenred Corporate Payment simplifies
relations between Jumia Travel and its partners and, in more general terms,
contributes to the digitalization of the hotel industry in Africa," points out
Estelle Verdier-Watine, Chief Operating Officer and Co- founder of Jumia
Travel.

Jumia Travel (travel.jumia.com) is the leading African Online Travel Agency,
which simplifies the travel booking experience by allowing users to compare
prices and amenities in a fast and secure manner.

With more than 25,000 hotels in Africa and more than a hundred flight companies
as partners, Jumia Travel aims to democratize travel by reducing travelling
cost, providing the largest inventory of properties and granting local &
high-quality services to become the one stop travel shop in the continent.

Jumia Travel is active in over 40 countries in Africa, with 10 local offices,
and more than 400 travel specialists constantly in touch with our customers.
Our main hubs are in Lagos (Nigeria), Accra (Ghana), Abidjan (Ivory Coast),
Algiers (Algeria), Kampala (Uganda), Dar Es Salaam (Tanzania) and Nairobi
(Kenya). Before June 2016, Jumia Travel was known as Jovago. It was founded in
2013 by Jumia and is backed by MTN, Millicom, Rocket Internet, Orange, Axa, CDC
Uk and other financial partners.

Edenred is the world leader in transactional solutions for companies, employees
and merchants, with business volume of more than EUR26 billion generated in
2017, of which 78% through digital  formats. Whether delivered via mobile,
online platform, card or paper voucher, all of these solutions  mean  increased
purchasing  power  for  employees, optimized expense management for companies
and additional business for partner merchants. Edenred's offer is built around
three business lines:

* Employee benefits (Ticket Restaurant(r), Ticket Alimentación, Ticket Plus,
  Nutrisavings, etc.)
* Fleet and mobility solutions (Ticket Log, Ticket Car, UTA, Empresarial, etc.)
* Complementary solutions, including corporate payments (Edenred Corporate
  Payment), incentives and rewards (Ticket Compliments, Ticket Kadéos) and
  public social programs.

The Group brings together a unique network of 44 million employees, 770,000
companies and public institutions, and 1.5 million merchants.

Listed on the Euronext Paris stock exchange and part of the CAC Next 20 index,
Edenred operates in 45 countries, with close to 8,000 employees.

Follow Edenred on Twitter: www.twitter.com/Edenred

The logos and other trademarks mentioned and featured in this press release are
registered trademarks of Edenred S.A., its subsidiaries or third parties. They
may not be used for commercial purposes without prior written consent from
their owners.

CONTACTS JUMIA TRAVEL

Media Relations

Abdesslam Benzitouni
+254 743 162 332
abdesslam.benzitouni@jumia.com

CONTACTS EDENRED

Media Relations

Anne-Sophie Sibout
+33 (0)1 74 31 86 11
anne-sophie.sibout @edenred.com

Anne-Sophie Sergent
+33 (0)1 74 31 86 27
anne-sophie.sergent@edenred.com

Matthieu Santalucia
+33 (0)1 74 31 87 42
matthieu.santalucia@edenred.com

Investor Relations

Solène Zammito
+33 (0)1 74 31 88 68
solene.zammito@edenred.com

Loïc Da Silva
+33 (0)1 74 31 87 09
loic.dasilva@edenred.com

www.edenred.com

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