PalmPay, a leading Africa-focused payment platform, has marked its fifth anniversary in Nigeria, highlighting its significant contributions to the country’s financial ecosystem.
Since its launch in 2019, PalmPay has achieved remarkable milestones, driving financial inclusion through its accessible and reliable payment solutions. The company has grown its user base to over 35 million, up from 25 million last year, and supports a network of 1 million mobile merchants and agents.
PalmPay’s efforts have contributed to Nigeria’s 74% financial inclusion rate, as recorded in Q4 2023. The company has received several accolades, including the Award of Excellence in Fintech by NITDA and recognition as one of the World’s Top 250 Fintech Companies 2024 by CNBC & Statista.
At the core of PalmPay’s operations is a mission to simplify financial services, making them faster, more secure, and inclusive. The platform offers a range of financial products, including money transfers, bill payments, credit services, and savings. PalmPay continues to prioritize user security, privacy, and financial literacy, leveraging AI-driven fraud monitoring and live detection.
Managing Director Chika Nwosu reaffirmed PalmPay’s commitment to deepening its impact on Africa’s digital economy. “We will keep prioritizing user security, privacy, and financial literacy to ensure the best experience for our users.”
PalmPay is a leading Africa-focused fintech platform committed to driving economic empowerment. With USD 140m in funding, the company operates in Nigeria and Ghana, with plans to expand to more markets.