By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Independent News ExpressIndependent News Express
  • Home
  • International
    InternationalShow More
    United Nations
    4th International Conference On Financing For Development Delivers Renewed Hope And Action For Sustainable Development
    1 week ago
    The African Development Bank and the United Nations Human Settlements Programme (UN-Habitat) scale up drive for sustainable urbanization in Africa
    AfDB, UN-Habitat Scale Up Drive For Sustainable Urbanisation In Africa
    1 week ago
    UN
    North Africa: Green Climate Fund Approves Record $300m For FAO-designed Projects In Papua New Guinea, Saint Lucia, The Sahel
    1 week ago
    UNICEF
    How Wars Across Middle East, North Africa Affecting Children – UNICEF
    1 week ago
    UNDP
    UN Development Programme Welcomes Historic Deal On Sustainable Development Even Amidst Global Turmoil
    2 weeks ago
  • Africa
    Africa
    Show More
    Top News
    Tunisian President Saied Under Pressure To Resign After ‘Fiasco’ Poll
    3 years ago
    United Nations Experts Charge President Of Zimbabwe To Reject Bill Restricting Civic Space
    2 years ago
    Senegal: Amnesty International Worries Over Deadly Crackdown On Protesters
    2 years ago
    Latest News
    At Gender Statistics Forum, African Leaders Urge Renewed Commitment To Quality Gender Data
    5 days ago
    Ooni’s Wife, Olori Temitope Enitan-Ogunwusi Takes Ile Ife Royalty To ADWIN Launch In Cote d’Ivoire
    4 weeks ago
    Independent UN Body Finds Systemic Racism Against Africans And People Of African Descent
    1 month ago
    Public Exit: Why South Africa Businesses Are Moving To Private Cloud
    1 month ago
  • Corporate News
    • Media Outreach
  • Politics
    Politics
    Show More
    Top News
    Nobody Can Thwart The Will Of Osun People, Adeleke Insists He Won Osun Election
    2 years ago
    Ex Boxing Champion, Akpan Hails Tinubu’s Victory, Applauds MC Oluomo
    2 years ago
    Lagos Speakership: Why Lawmakers-elect Endorsed Obasa – Temitope
    2 years ago
    Latest News
    Lagos LG Poll: I’ll Bring Government Closer To The People – APC Aspirant
    14 hours ago
    Lagos LG Poll: Tunde Disco/Ganiyu Obasa Intensify Campaign In Agege
    2 weeks ago
    PHOTOS: Vinod Obasa Joins Other Lagos APC LG Candidates At Sanwo-Olu’s Reception
    2 weeks ago
    Lagos Lawmaker Praises Tinubu For Helping Nigeria Breathe Again
    1 month ago
  • News
    • Agriculture
    • Breaking News
    • Tech
    • Maritime
    • Crime
    • Art & Culture
    News
    Show More
    Top News
    Ondo Governor, Akeredolu Begins Construction Of First Flyover In Akure
    2 years ago
    Celebration Of Life: Reverend Adewumi Jegede Of Later House Of God Assembly Buried Amid Pomp
    1 year ago
    Pa Abdulfatah Amoo Ayanwale
    Pa Ayanwale Dies At 76, Fidau Prayers Holds 8 August
    2 years ago
    Latest News
    She Was an Amazon Who Left Indelible Marks — Ayorinde Pays Tribute to Late Ambassador Adefope
    4 days ago
    IMSUAA 2025 Convention Mascot: A Symbol Of Love, Unity And Cultural Diversity
    5 days ago
    Lagos Hosts Groundbreaking Revenue Recovery Summit
    5 days ago
    CFE Foundation Seeks Sponsors to Sustain Humanitarian Programs Amidst Funding Challenges
    1 week ago
  • Entertainment
    • Comedy
    • Movies
    • Music
    • Television
    • Concert & Events
    Entertainment
    Show More
    Top News
    Creative Industries, A Catalyst To Drive Investment & Business Opportunities In U.S. And Africa
    3 years ago
    Davido, Wizkid Join Afro Nation Portugal 2023
    2 years ago
    Nigeria Idol S8: Constance’s eviction and other highlights from week 7
    2 years ago
    Latest News
    Purp vs Raymu: Who Will Be Crowned The Next Nigerian Idol?
    4 days ago
    Local Content Powers African Dreams
    1 week ago
    The Drama Returns As BBNaija ‘No Loose Guard’ Reunion Premieres June 23
    3 weeks ago
    You Can’t Fake it — James Omekwe On MultiChoice’s Impact On African Filmmaking
    1 month ago
  • Lifestyle
    • Fashion
    • Love & Life
    • Food & Drink
    • Travel & Tourism
    • Relationship
    • Sex
    Lifestyle
    Show More
    Top News
    Ooni Of Ife Honours Chairman SABRE West Africa At Olojo Festival Dinner
    2 years ago
    LENT 2023: Nigerians Knocking On Heaven’s Door By Bishop Emmanuel Badejo
    2 years ago
    Happiness
    Eight Ways To Stay Happier In 2025, According To Science
    6 months ago
    Latest News
    Noble Call to Service: Inside the Induction of 104 New Knights of St. Mulumba
    4 weeks ago
    Joining The Knighthood Brings You Closer To God -Sir Eva Njemanze
    4 weeks ago
    Africa Tech Festival Unveils Strategic Themes For 2025 Event,
    4 weeks ago
    Lagos SWAN Joins UN To Celebrate World Nutrition Month At Unilag Confab
    2 months ago
  • Business
    • Banking & Finance
    • Oil & Gas
    BusinessShow More
    Petralon's Nigerian Drilling Campaign to Boost Offshore Oil Output
    Petralon’s Nigerian Drilling Campaign To Boost Offshore Oil Output
    4 days ago
    Year 2025
    How Nigeria Can Unleash Its Economic Potential – IMF
    5 days ago
    GTCO Plc Becomes 1st West Africa’s Financial Services Institution To Achieve Listing And Trading Of Its Ordinary Shares On London Stock Exchange
    5 days ago
    Unity Bank
    Unity Bank Empowers Young Entrepreneurs With ₦16M Business Grant
    1 week ago
    NNPCL Board Accused Of Planning Lavish Party In Rwanda Amidst N210tn Financial Scandal
    3 weeks ago
  • Health
    Health
    Show More
    Top News
    MUST READ: Palm Wine Lowers Blood Sugar, Cholesterol, And Supports Heart Health
    3 years ago
    West Africa, Eastern Europe Lead In Cocaine Trafficking Hubs
    2 years ago
    Uk’s £15m Funding To Strengthen Health Workforce In Kenya, Nigeria, Ghana
    2 years ago
    Latest News
    SSB Tax: Industry Actors, Paid Mouthpieces Slammed Over Campaign To Stop CAPPA
    3 days ago
    CAPPA Warns Nigerians On Excessive Consumption Of Sugar-sweetened Beverages, Says Nigeria Is In The Throes Of Public Health Crisis
    4 days ago
    Rising Non-communicable Diseases: WHO Wants Higher Taxes For Sugary Drinks, Alcohol, Tobacco
    6 days ago
    Online Education Can Enhance Clinical Guideline Use By Over 50% 
    4 weeks ago
  • More
    • Sports
    • Aviation/Transportation
    • Deliverance Hour
    • Industry & Labour
    • Insurance
    • Interview
    • Judiciary
    • Metro
    • Opinion
    • Property
    • Religious
    • Romance
    • Science & Discovery
Reading: PalmPay Hits 10 Million User Milestone In Nigeria
Share
Notification Show More
Aa
Independent News ExpressIndependent News Express
Aa
  • Home
  • International
  • Africa
  • Corporate News
  • Politics
  • News
  • Entertainment
  • Lifestyle
  • Business
  • Health
  • More
Search
  • Home
  • International
  • Africa
  • Corporate News
    • Media Outreach
  • Politics
  • News
    • Agriculture
    • Breaking News
    • Tech
    • Maritime
    • Crime
    • Art & Culture
  • Entertainment
    • Comedy
    • Movies
    • Music
    • Television
    • Concert & Events
  • Lifestyle
    • Fashion
    • Love & Life
    • Food & Drink
    • Travel & Tourism
    • Relationship
    • Sex
  • Business
    • Banking & Finance
    • Oil & Gas
  • Health
  • More
    • Sports
    • Aviation/Transportation
    • Deliverance Hour
    • Industry & Labour
    • Insurance
    • Interview
    • Judiciary
    • Metro
    • Opinion
    • Property
    • Religious
    • Romance
    • Science & Discovery
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Independent News Express > Blog > Banking & Finance > PalmPay Hits 10 Million User Milestone In Nigeria
Banking & FinanceBusiness

PalmPay Hits 10 Million User Milestone In Nigeria

Last updated: 2022/08/31 at 12:52 PM
3 years ago
Share
SHARE

PalmPay fintech innovator aiming to make digital payment more accessible and flexible, announced that it has reached 10 million users in Nigeria. This represents a doubling in its user base within just six months and puts its customer numbers in the same league as major institutions only 3 years after the company launched in the market.​

The fintech, which operates under a Mobile Money Operator license from the Central Bank of Nigeria, has gained significant traction with its payment’s app and nationwide agency banking network.

Its proposition of instant financial account creation, fee-free bank transfers and cashback rewards on airtime and bill payments has appealed to Millennial and Gen-Z consumers, who are looking for more affordable banking options and prefer the convenience of a digital-first service.

Nowadays PalmPay is processing millions of transactions a day. And around 20% of the company’s customer base report that the PalmPay app was their first financial account, demonstrating that the Mobile Money Operator is contributing to driving progress towards financial inclusion targets in Nigeria, where 36% of the population remains unbanked.

Nigerians without smartphones can visit one of PalmPay’s 200,000 mobile money agents across the country, who can transact on their behalf or issue an innovative QR card that can be used to hold a balance. Consumers can also use PalmPay agents to deposit cash to their PalmPay accounts and to withdraw money using their debit cards through PalmPay-branded POS machines.

“We are delighted to be able to celebrate this growth milestone and are proud of PalmPay’s track record of making cutting-edge financial services accessible to every Nigerian – including the unbanked.”, said Mr Chika Nwosu, Managing Director, PalmPay Nigeria, “The pandemic has accelerated the shift from cash to digital payments and we are looking forward to continuing to work together with regulators and our partners to innovate to meet the financial needs of consumers.”

“Our significant growth in Nigeria demonstrates PalmPay’s ability to innovate to meet the financial needs of consumers, and we are looking forward to replicating this success as we scale in more markets across Africa.” said Sofia Zab, PalmPay Global CMO.

You Might Also Like

Petralon’s Nigerian Drilling Campaign To Boost Offshore Oil Output

How Nigeria Can Unleash Its Economic Potential – IMF

GTCO Plc Becomes 1st West Africa’s Financial Services Institution To Achieve Listing And Trading Of Its Ordinary Shares On London Stock Exchange

Unity Bank Empowers Young Entrepreneurs With ₦16M Business Grant

NNPCL Board Accused Of Planning Lavish Party In Rwanda Amidst N210tn Financial Scandal

TAGGED: PalmPay
INadminNG August 31, 2022 August 31, 2022
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Print
Previous Article Successes Of Nigeria Women Football League And Challenges By Dapo Sotiminu
Next Article TNBA: BON Invites Entries for Award Categories, Announces Judges’ Panel
about us

Independent News Express (iNews Express), a publication of 4Ds Nigeria Limited, is birthed out of the desires of the founding fathers to report News as it is.

We value Professionalism, Excellence, Service, Creativity and Integrity.

The Company

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy

Quick Links

  • Advertise with us
  • Newsletters
  • Deal

Categories

Find Us on Socials

© Independent News Express. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?