In today’s world of e-commerce, the right financial tool can gravitate from the more technical accounting software and payroll management tool to the less complicated but secure digital payment platform and Point of Sales (POS) machine.
Big on secure digital payments, leading fintech platform PalmPay offers digital financial tools such as PalmPay Business app and Point of Sales (POS) machines for business owners to collect payments from customers and help grow their sales and increase profit.
As of 2023, PalmPay’s cashless payment ecosystem processed up to 15 million daily transactions and $6 billion monthly transaction value, earning it one of the highest retention rates in the market, with 75% of users returning every month to transact.
More than 40 million people, representing 1 in 5 Nigerians, trust PalmPay’s network to shop and pay for utilities monthly. This number represents the number of people who have accessed PalmPay services through its secure and seamless smartphone apps or merchant and agent networks.
PalmPay POS
One challenge faced by business owners before the coming of fintech platforms was the lack of more options to receive payments. With fintech apps or POS machines, businesses can now effortlessly receive payments.
Since launching in Nigeria in 2019 under a Mobile Money Operator (MMO) license, PalmPay has grown to over 30 million users and 1.1 million businesses, including 600,000 merchants and 500,000 agents, as part of its cashless payment ecosystem.
The PalmPay POS is fully certified by the Central Bank of Nigeria (CBN) and Nigeria Inter-Bank Settlement System (NIBSS) and supported by private organizations in Nigeria’s financial industry to receive payments from customers.
The over 600,000 merchants using the PalmPay POS experience an impressive 99.5% success rate and enjoy loads of other financial benefits on daily transactions.
PalmPay App
The PalmPay app is the jewel in the crown of digital payment platforms for business owners in Nigeria. The PalmPay app held the top spot on the Nigerian Google Play download chart as the most downloaded finance app for a long time.
One thing that makes PalmPay attractive is its reward system. Both business owners and their transacting customers get rewarded using the PalmPay app. Each time your customers make payments, they get discounts and cashback.
Customers enjoy cashback when they use the ‘Pay to Shop’ feature on the PalmPay app. With the PalmPay ‘Pay With Transfer,’ customers can experience a better way to shop and pay in-store by earning exclusive cashback.
Buyers using the PalmPay app can pay via the ‘Pay Shop’ feature to a network of over 500,000 shops, restaurants, and street vendors who accept the ‘Pay with Transfer’ and earn up to N500 cashback daily when paying the merchants.
Businesses or merchants of all sizes can display or paste the PalmPay Brand Mark Poster with their Merchant Account and accept payment from any Nigerian bank with the PalmPay app with no additional fee for any hardware.
Also, customers who make payments for purchases to traditional bank accounts of businesses through the PalmPay app enjoy discounts and cashback.
Why Use PalmPay?
As a small business owner, deciding to use PalmPay has its benefits. One is its reliable network. As the industry’s leading, reliable and seamless fintech platform, 99.5% of transactions are successful on the PalmPay app.
Then there are discounts. Unlike other competing fintech platforms, PalmPay offers its users several exciting discount packages and bonuses whenever they transact with the app, including 90 free monthly transfers to other banks.
How to Get Started
Entrepreneurs looking to get POS machines to receive payments for their business can fill out the application form with their personal and business details, including their name, address, phone number, and email address, and submit it for approval.
Are you interested in becoming a merchant? Download the PalmPay Business app from the Google Play store and join the thousands of businesses on the platform.
In the world of unending bank charges, PalmPay is an oasis in the desert. So, yes, turn your small business’s New Year resolution of “No gree for anybody” into a challenge on how to grow your business and earn more money.