PalmPay, a leading full-service digital bank, has reinforced its commitment to shaping the future of payments in Nigeria by actively promoting the widespread use of contactless-enabled payment terminals.
This commitment was highlighted at the recent BusinessDay Future of Payment Conference, themed “Fintech Evolution: Gateway to Payments.” In his opening remarks, BusinessDay Publisher Frank Aigbogun stressed that the next stage of fintech innovation must prioritize not only speed, safety, and simplicity but also trust, inclusion, and accessibility to ensure widespread benefits across all societal segments.
During the panel session on “The Next Wave of Digital Payments: Trends and Innovation,” Ifeanyi Uzoka, Senior Business Development Manager at PalmPay, discussed the evolving digital payment landscape in Nigeria. He acknowledged that while regulatory frameworks have facilitated the introduction of contactless payments, the persistent high reliance on cash remains a significant hurdle to their widespread adoption.
“At PalmPay, financial inclusion is at the core of our operations,” stated Uzoka. “To further this mission, we have introduced contactless-enabled debit and premium cards, providing our users with convenient and secure payment options. Recognizing the importance of trust, we have also implemented an additional layer of authentication for all contactless transactions on the PalmPay platform, ensuring enhanced security.”
PalmPay continues to be a key driver of innovation within Nigeria’s digital finance ecosystem by delivering secure, user-friendly, and future-oriented solutions. The company’s recently launched debit and premium cards, in partnership with Verve, are now accessible to its expanding user base of over 35 million nationwide. This strategic move into contactless payments underscores PalmPay’s alignment with global payment trends and its ongoing dedication to fostering a more inclusive and digitally empowered economy in Nigeria.