PalmPay has issued a final notice to its users, urging them to update their account with either their National Identification Number (NIN) or Bank Verification Number (BVN) to prevent potential account restrictions. This move comes ahead of the Central Bank of Nigeria’s (CBN) deadline for account upgrades.
Effective March 1, 2024, PalmPay announced that all accounts not linked to a NIN or BVN “will not be able to carry out transactions on the PalmPay App.” In a statement addressed to its user base, PalmPay emphasized the importance of linking NIN or BVN to their accounts to continue enjoying its services.
Users were advised to promptly link their NIN or BVN to their PalmPay account and were provided with contact information for assistance, including a phone number and email address.
To facilitate the linking process, PalmPay outlined simple steps for users to follow within the app:
- Click on the profile and access the KYC Levels.
- Click on “Upgrade” located at the bottom of the page displaying the account KYC level.
- Fill out the form with accurate details and submit it for verification.
PalmPay, a leading Africa-focused fintech platform, is dedicated to driving economic empowerment across the continent. Offering a secure, user-friendly, and inclusive suite of financial services, PalmPay aims to bring top-tier products into the hands of everyday Nigerians, thereby promoting financial inclusion.
The platform provides services such as money transfers, bill payments, credit services, and savings both on its app and through its network of mobile money agents. Since its launch in Nigeria in 2019 under a Mobile Money Operator license, PalmPay has amassed over 30 million app users as part of its burgeoning cashless payment ecosystem.
