Today, PalmPay officially launched its USSD code service in Nigeria, allowing Nigerians to manage their finances without relying on internet connectivity.
PalmPay users can simply dial *861# from their mobile phones, customers can perform a variety of banking transactions seamlessly.
Since its inception in Nigeria in 2019, PalmPay has operated under a Mobile Money Operator license issued by the Central Bank of Nigeria (CBN).
The fintech company has established itself as a pioneer in providing a diverse range of financial services through its comprehensive ‘superapp.’ This includes money transfers, bill payments, credit services, and savings, all in one user-friendly platform.
The introduction of the USSD code marks a strategic enhancement in PalmPay’s service offerings. It aims to improve accessibility for users, especially in a market where data network outages are frequent.
According to the company, customers can also utilize a nationwide network of over 500,000 Mobile Money Agents to conduct transactions, ensuring that even those without smartphones can benefit from financial services.
Chika Nwosu, the Managing Director of PalmPay Nigeria, highlighted the company’s commitment to driving financial inclusion in the country. “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 stated.
Nwosu further emphasized the importance of security, stating that the USSD platform includes a vital feature allowing customers to remotely freeze their accounts in case their phones are lost or stolen. This added security measure provides users with peace of mind in managing their finances.
PalmPay has achieved remarkable milestones since its launch, boasting over 30 million registered users on its app and connecting approximately 1.1 million businesses through its extensive network of mobile money agents and merchants.
Notably, one-third of PalmPay users report that they opened their first-ever financial account through the platform, underscoring the fintech’s role as a key driver of financial inclusion in Nigeria.
