PalmPay strengthens partnerships to deepen financial Inclusion and combat cybercrime

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

PalmPay has announced plans to solidify partnerships with major institutions, including the Central Bank of Nigeria (CBN), to promote financial inclusion in the country. According to Chika Nwosu, managing director of PalmPay, the company is collaborating with the CBN and law enforcement agencies to protect customers’ funds from internet fraudsters.

For further information, read more details here

Nwosu stated, “We are also collaborating with the Central Bank of Nigeria (CBN) as the regulator and other law enforcement agencies to help salvage customers’ funds from internet fraudsters, who use the platform as a conduit to carry out their nefarious acts.” To further safeguard customers’ accounts, PalmPay has enhanced its product security features through a centralized security center.

The security centre guides users to enable key protections, including “biometric unlock, independent login password, email binding, auto-logout, and risk checks,” Nwosu explained. The company has also continued to prioritise compliance and educate users on security measures. PalmPay plans to expand its market reach in underserved regions, distribute five million debit cards nationwide, and implement various corporate social responsibility (CSR) initiatives.

In the first quarter of 2025, PalmPay paid out N4 billion in interest to users of its wealth product, reinforcing the value it delivers to customers. Nwosu expressed the company’s commitment to supporting the fight against cybercrime, stating, “We would continue to support law enforcement agencies to create an ecosystem free of the menace.”

Additionally, PalmPay expanded its Purple Woman CSR program to support young women pursuing careers in technology, further demonstrating its dedication to empowering communities and promoting financial inclusion.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post