PalmPay
Pay, save, win
4(720K+ reviews)
Founded 2019Lagos, NigeriaUsers
30M+
Rating
4/5
Founded
2019
KYC
Required
About PalmPay
PalmPay is a fast-growing mobile money platform backed by Transsion Holdings, offering cashback rewards on every transaction. With over 30 million users, PalmPay has become a major player in Nigeria's digital payments space, especially among younger Nigerians.
Features
Cashback on transactions
Free transfers
Bill payments
Airtime & data top-up
PalmPay POS terminals
POS instant settlement
PalmPay merchant app
Savings
Merchant payments
Rewards program
Agent banking network
Fee Structure
| transfers | Free within PalmPay. Low fees to others |
| maintenance | Free |
| other | POS charges: 0.5% per transaction capped at N1,000. POS terminal: N20,000-N35,000. Cashback offsets most fees |
Pros & Cons
Pros
- Generous cashback rewards
- Pre-installed on Tecno/Infinix phones
- Fast transaction processing
- Growing agent network
- Competitive transfer fees
Cons
- Limited savings interest rates
- No investment products
- Newer than established competitors
- Cashback amounts have been reducing
Links
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