PalmPay, a prominent fintech firm, was honored with the Fintech Category Excellence award at the 2023 Digital Nigeria Conference, organized by the National Information Technology Development Agency (NITDA). This three-day event, which included an awards dinner, took place at the International Conference Center (ICC) in Abuja, where PalmPay’s outstanding contributions to providing efficient payment services for numerous unbanked communities throughout Nigeria were acknowledged.
Chika Nwosu, the Managing Director of PalmPay, accepted the award and emphasized the company’s commitment to delivering fast, seamless, and secure financial transactions to Nigerians. Since its inception in 2019, operating under a Mobile Money Operator license, PalmPay has played a pivotal role in bridging the financial inclusion gap and supporting the government’s efforts to empower millions of unbanked Nigerians economically.
Nwosu expressed his gratitude to NITDA for this recognition and outlined PalmPay’s dedication to enhancing financial inclusion in Nigeria. He noted that the award served as a source of inspiration, motivating PalmPay to redouble its efforts in making innovative financial services more accessible to unbanked communities while ensuring that their financial transactions remain faster, seamless, and secure.
The National Information Technology Development Agency (NITDA) is responsible for implementing Nigeria’s National Digital Economy Policy and is tasked with planning, researching, developing, standardizing, applying, coordinating, monitoring, evaluating, and regulating information technology practices in the country. The event on October 26 was attended by a diverse audience, including high-ranking government officials, experts in Nigeria’s financial industry, and top-level management staff from NITDA.
PalmPay, a leading Africa-focused fintech platform, is committed to driving economic empowerment across the continent. Through its secure, user-friendly suite of financial services, PalmPay brings high-quality products to everyday Nigerians.
PalmPay offers a wide range of financial services on its app and through its mobile money agents, including money transfers, bill payments, credit services, and savings options. Since its launch in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to serve 30 million users. Furthermore, it has established partnerships with 1.1 million businesses, encompassing 600,000 merchants and 500,000 agents as part of its cashless payment ecosystem.
The company has secured significant funding, totaling USD 140 million, which has enabled it to expand its offerings and reach. The PalmPay app is readily available on the Google Play Store and iOS App Store in Nigeria and Ghana, with plans for further expansion into additional markets in 2023.
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