PalmPay Rolls Out USSD Service To Empower Users With Enhanced Financial Access

Posted on September 23, 2024

PalmPay, a leading financial platform with over 30 million users on its smartphone app in Nigeria, Monday 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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

The Federal High Court sitting in Lagos on Friday fixed February 14, 2024 for... Continue
  CHRISTIAN ABURIME  The Executive Governor of Anambra State, Professor Chukwuma Charles Soludo, CFR,... Continue
Renowned Nigerian actor and cultural icon, Prince Jide Kosoko, has joined millions of Nigerians... Continue
While marking the International Day of Education, the Executive Chairman of Ojodu LCDA, Lagos... Continue
Telecommunications provider, 9mobile, has applauded the Federal Government and the Nigerian Communications Commission (NCC)... Continue
An Igbosere Magistrate’s Court sitting at the Tinubu Magistrate’s Court, Lagos Island, Lagos have... Continue
The Oyo State Rural Access and Agricultural Marketing Project (Oyo RAAMP) has successfully signed... Continue
BY PAUL IYOGHOJIE Operatives of the Finacial Malpractices Investigation Unit, FMIU of the Nigeria... Continue
BY JEREMY BOISSINOT The establishment’s worst nightmare isn’t Donald Trump. It’s his teenage son.... Continue
President Bola Ahmed Tinubu has appointed board chairpersons for 42 federal organisations and a... Continue

UBA

DANGOTE AD

GLO


Access Bank

Twitter

Sponsored