• Home
  • Business
  • Nigeria: PalmPay resumes customer onboarding, reinforcing its commitment to financial inclusion
Image

Nigeria: PalmPay resumes customer onboarding, reinforcing its commitment to financial inclusion

Following the Central Bank of Nigeria (CBN) lifting its restriction on onboarding new customers, PalmPay has announced the resumption of user and merchant onboarding on its mobile app.

This milestone underscores PalmPay’s dedication to transforming the Nigerian financial services sector by offering seamless, secure, and efficient financial solutions, all while closely collaborating with the apex regulatory body.

Following the restriction from the Central Bank of Nigeria (CBN) on onboarding new customers, PalmPay has announced that onboarding has resumed on its mobile app for users and merchants.

This milestone represents PalmPay’s ongoing commitment to revolutionizing the Nigerian financial services sector by providing seamless, secure, and efficient financial solutions while working assiduously with the apex regulatory body.

Chika Nwosu, the Managing Director, stated that PalmPay’s commitment to excellence and financial security remains unwavering as the company continues to drive financial inclusion.

“Despite the growing interest in cryptocurrency, PalmPay does not permit cryptocurrency or virtual asset trading on our platform, and this is in line with CBN’s Central regulations to protect the financial ecosystem.

“We monitor platform activities diligently and take necessary actions, including account closure and reporting to the relevant authorities, for any cryptocurrency or other related transactions.

“We are committed to maintaining a robust Know Your Customer (KYC) and Customer Due Diligence (CDD) systems which help us understand our users and mitigate risks effectively,” Nwosu added.

PalmPay’s core mission continues to center on delivering a safe and reliable platform for everyday financial needs. To enhance payment security and ensure regulatory compliance, all new users must validate either their NIN or BVN during registration.

Related Posts

CalBank, MTN, and Bluespace launch ‘BeINsured’ in Ghana

CalBank PLC, in collaboration with MTN Ghana and fintech firm Bluespace Africa, has launched BeINsured, Ghana’s first digital…

Bank of South Sudan Set to Unveil First-Ever National Instant Payment System

The Bank of South Sudan (BOSS) has announced a groundbreaking initiative to launch the country’s first National Instant…

Microsoft Appoints Samer Abu-Ltaif as President of EMEA Region

Microsoft has announced the appointment of Samer Abu-Ltaif as President of Microsoft Europe, Middle East, and Africa (EMEA).…

Oando Reports N4.1 Trillion Revenue and N65.5 Billion Profit-After-Tax in FY 2024 Results

Oando PLC, Africa’s leading integrated energy company listed on both the Nigerian Exchange Group (NGX) and Johannesburg Stock…

Leave a Reply

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