PalmPay, a leading financial platform with over 30
million users on its smartphone app in Nigeria,
today announces the launch of its USSD code.
This service offers Nigerians an additional way to
manage their finances without the need for internet connectivity. With the
PalmPay USSD code, customers can now perform a wide range of banking
transactions by dialing *861# from their mobile phones.
PalmPay has been operating in Nigeria since 2019 under a Mobile Money Operator license issued by the CBN. The fintech pioneered a model that provides financial services such as money transfers, bill payments, credit services and savings via a one-stop-shop financial ‘superapp’.
Customers without access to smartphones are able to
make transactions via a nationwide network of over 500,000 Mobile Money Agents.
The addition of a USSD access point is designed to further enhance the
accessibility and convenience of its platform for consumers in a market where
data network outages are common.
Chika Nwosu, Nigeria Managing Director, emphasized
the company’s commitment to financial inclusion"At PalmPay, we aim to
bridge the gap in digital access, and the introduction of our USSD service
aligns with that mission. Our platform ensures seamless connectivity for our
users." he said. “In addition, our USSD platform comes with a security
feature which allows our customers to remotely freeze their accounts in case
their phone is lost or stolen, providing an extra layer of protection to safeguard
their finances.”
PalmPay has achieved significant milestones in
Nigeria, reaching over 30 million registered users on its app and connecting
1.1 million businesses through its network of mobile money agents and
merchants. The company has been a key driver of financial inclusion in Nigeria,
with a third of PalmPay users reporting that they opened their first-ever
financial account through the platform.
Recently, PalmPay was recognized as one of the
World’s Top 250 Fintech Companies in 2024 by CNBC and Statista.
With its user-friendly interface, reliable
transactions, and focus on driving market share through fee-free transfers and
promotions, PalmPay continues to solidify its position as a major player in
Nigeria’s fintech ecosystem.
About PalmPay
PalmPay is a leading emerging markets-focused
fintech platform committed to driving economic empowerment in Africa.
PalmPay operates in several key markets across
Africa, including Nigeria, Ghana and Tanzania, with plans to expand further in
the region and other emerging markets. The company has global HQs in China and
London.
For more information, visit www.palmpay.com
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