By Juliet Umeh
Nigeria’s fintech platform, PalmPay, has made a renewed pledge to drive financial inclusion and empowerment, focusing on scaling innovations and delivering reliable financial solutions to underserved communities across Nigeria.
PalmPay’s CEO, Mr. Chika Nwosu, while speaking at the company’s fifth anniversary in Lagos emphasized the company’s dedication to using technology to solve key financial challenges.
“Five years ago, we entered Nigeria’s fintech space with the dream of becoming Africa’s largest financial services platform,” said Nwosu.
“It wasn’t an easy journey, but with the support of our team and loyal users, we have impacted the lives of over 35 million people across Nigeria and beyond.
“Since its inception, PalmPay has provided critical financial products such as money transfers, bill payments, credit services, and savings solutions.
It has established a robust network of over 1 million mobile merchants and agents. This wide reach has contributed significantly to the nation’s financial inclusion, helping Nigeria achieve a 74 percent financial inclusion rate last year.
Highlighting PalmPay’s recent efforts, Nwosu introduced the *864# feature, an innovation that allows users to access financial services without the need for a smartphone.
“This solution reflects our deep understanding of local needs and our ongoing commitment to delivering real, accessible financial solutions for all Nigerians,” Nwosu remarked.
Looking forward, PalmPay aims to continue scaling its operations while deepening its impact on underserved communities.
“Our next five years will focus on expanding our user base and driving financial empowerment in every corner of Nigeria,” Nwosu said.
He further assured that PalmPay will prioritize security through enhanced AI-driven, anti-fraud features while collaborating closely with regulators to ensure a seamless experience for all users.
In closing, Nwosu expressed heartfelt gratitude to the PalmPay team and its users for their unwavering support, which has been instrumental in the company’s success and growth.
