PalmPay Marks 5th Anniversary in Nigeria with Major Milestones

Emma Okonji

PalmPay, a leading emerging markets-focused fintech, has marked the 5th anniversary of its operations in Nigeria at a celebratory event held in Lagos recently.

During the event, Palmpay highlighted key milestones in its journey and updates on its growth and impact in the country. 

Speaking at the anniversary, Managing Director of PalmPay Nigeria, Chika Nwosu, said: “We’ve built a platform that 35 million users trust, and with our growing network of agents and merchants, PalmPay is playing a key role in digitising Nigeria’s economy. Looking ahead, our strategy is clear—continue to lead with secure, reliable solutions while fostering partnerships that empower more people and businesses to reach their financial goals.”

At the core of PalmPay’s approach, is making financial services more accessible in a market where traditional banking options have left many underserved. The new *861# USSD code allows customers to access PalmPay services without the internet, offering greater accessibility for users who run out of data or are in areas with low network coverage. 

The company also emphasised its commitment to security at a time when financial fraud is increasing globally. PalmPay has implemented security measures such as facial recognition, biometric login, and AI-driven transaction monitoring to ensure secure payments. Every account is verified through NIN or BVN, and customers who lose their phones can now freeze their accounts via the newly launched USSD service.