PalmPay Restates Commitment To Safeguarding Finance of App Users From Fraudsters

PalmPay, a leading fintech company has restated its commitment to safeguarding the finances of over 35 million users of the app from fraudsters who are scheming to exploit them.

According to Femi Hanson, Head of Marketing and Communications, Palmpay, the company has outlined safety tips that must be observed in the new year to keep the users’ account and their funds safe and secure.

Hanson noted that fraudsters are not ready to take a break from their schemes as they remain on the prowl to exploit unsuspecting victims.

It stated that fraudsters are deploying sophisticated tactics such as phishing attempts, fake websites as well as giveaway scams to take advantage of unsuspecting victims.

The safety tips to protect the PalmPay account for the year include

1. Activate the Night Guard Feature: Enable the Night Guard feature on your PalmPay app to add extra security and verification for transactions made at night.

2. Set-up Transaction Guard: Enable the Transaction Guard feature on the PalmPay app to add an extra layer of security for transactions exceeding a set threshold.

3. Beware of Phishing Attempts: PalmPay will never ask for your password, PIN, or sensitive details via phone calls, emails, or SMS.

4. Use Strong Passwords: Lock your devices and accounts with strong PINs, passwords, or biometric authentication.

5. Enable Two-Factor Authentication (2FA): Add an extra layer of security by enabling two-factor authentication on your PalmPay account.

6. Keep Your Password Confidential: Never share your account password with anyone, including family and friends.

7. Report Fraudulent Transactions Immediately: Use PalmPay’s in-app reporting tools to quickly flag and resolve fraudulent transactions.

8. Stay Updated: For up-to-date safety messages, view the in-app security center and follow verified PalmPay social media accounts.

9. Verify All Transaction Platforms: Thoroughly investigate the transaction platform to ensure legitimacy before completing the transaction.

10. Sign-up for PalmPay Wallet Shield: Enjoy compensation for direct losses caused by unauthorized transactions when you sign-up for PalmPay Wallet Shield.

While urging app users to contact customer support team via support@palmpay.com, the company charged them to stay vigilant.