PalmPay is doubling down on its mission to drive digital financial inclusion across Africa. At this year’s Tech Unite Africa conference in Lagos, the fast-growing fintech unveiled its latest innovation — the PalmPay Debit Card — and shared bold plans to accelerate the continent’s shift away from cash by making digital payments more seamless, accessible, and rewarding for everyone.
Speaking at a panel session, PalmPay’s Chief Marketing Officer, Sofia Zab, reflected on the company’s journey and the hurdles they faced in the early days. According to her, when PalmPay began operations in Nigeria in 2019, digital payments were still a tough sell. Unstable platforms and costly transactions made consumers and small businesses stick with cash.
But rather than waiting for the environment to improve, PalmPay took a different route — it built a solution from the ground up. From creating a highly reliable transaction system with a 99.95% success rate to removing the friction of hidden charges and failed payments, the company focused on making digital payments more appealing than cash.
“Once people realize how easy and rewarding it can be, they switch — and they don’t look back,” Zab said, pointing to features like free transfers, zero-fee bill payments, and cashback perks that have made PalmPay a daily go-to for millions of Nigerians.
What sets PalmPay apart is its deep understanding of the local context. Knowing that internet access is still patchy in many parts of the country, PalmPay built a network of over a million agents who can carry out transactions even when mobile networks fail. The launch of its *USSD code (861#) in 2024 further widened access, allowing people with basic phones to enjoy digital financial services without needing data.
Now, with the PalmPay Debit Card—created in partnership with Verve—users have even more flexibility. The card allows them to withdraw cash when necessary and make in-store purchases while staying connected to the PalmPay ecosystem. There’s no maintenance fee, and the application process is smooth and entirely app-based, with nationwide delivery.
Zab emphasized that PalmPay’s goal isn’t just to digitize finance but to bring more people into the financial system — especially those who’ve been left out for too long. “Financial inclusion isn’t a buzzword for us,” she said. “It’s the heart of what we’re building.”
With over 35 million users and a rapidly expanding network of merchants and agents, PalmPay is proving that the future of finance in Africa isn’t just digital — it’s inclusive, accessible, and built for real people.
