PalmPay Reaches 30 Million Users, Redoubling Financial Inclusion Drive in Nigeria

Chika Nwosu, managing director of PalmPay has said the company will redouble its efforts in bridging the gap between the banked and the unbanked in Nigeria.

In September 2023, the company announced that it had hit 30 million registered users using its terminals for various transactions. PalmPay offers money transfers, bill payments, credit services, and savings on its app and via its mobile money agents.

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Nwosu was speaking at the 2023 Digital Nigeria Conference organised by the National Information Technology Development Agency (NITDA). At the event, PalmPay received the award of Excellence in the Fintech Category.

According to the PalmPay CEO, the company has since 2019 provided Nigerians with fast, seamless and secure financial transactions. The award therefore is a recognition of PalmPay’s efforts to support the government’s drive include millions of unbanked Nigerians economically by bridging the country’s financial inclusion gap.

“This drive has led us over the years to develop an impressive suite of financial products on our PalmPay platform, resulting in over 30 million users and 1.1 million businesses, including 600,000 merchants and 500,000 agents as part of our cashless payment ecosystem,” Nwosu said.