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PalmPay marks 5th anniversary with major milestones

One of Nigeria's leading fintech PalmPay is celebrating its 5th anniversary

PalmPay has celebrated its 5th anniversary in Nigeria, marking a significant milestone in the company's contribution to the country's financial inclusion agenda. Over the past 5 years, PalmPay has grown to serve about 35 million users, playing a crucial role in transforming how Nigerians make payments and supporting the nation's transition towards a cashless economy.

Over the past 5 years, PalmPay's payment platform has been recognized for its speed and reliability, allowing the company to capture market share as demand for digital payments surged during the COVID-19 pandemic and the 2023 cash shortages. Today, the company processes up to 15 million transactions daily.

Since commencing operations in 2019, PalmPay has addressed Nigeria's unique financial needs with a broad range of products, including money transfers, bill payments, credit, savings, and insurance, accessible through its mobile app and an extensive network of mobile money agents. The company also supports businesses with services such as the PalmPay Business app, point of sale (PoS) devices, APIs, and a merchant portal.

PalmPay's efforts have contributed to Nigeria's push towards greater financial inclusion, which has reached a rate of 74% as of this year. With over 35 million users and a network of 1.2 million agents and merchants across the country, PalmPay has established itself as a major player in the nation's financial services sector.

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