PalmPay Marks 5th Anniversary with New USSD, Commits to Financial Inclusion

PalmPay recently clocked 5years in Nigeria, expressing its continuous commitment to financial commitment in the country.

At an event to celebrate the anniversary in Lagos recently, Palmpay highlighted key milestones in its journey and updates on its growth and impact in the country

As part of the celebrations, the company officially launched its highly anticipated USSD code, *861#. Established in 2019, PalmPay has been instrumental in transforming how Nigerians make payments, supporting the country’s transition towards a cashless economy.

Over the last five years, PalmPay said, it has addressed Nigeria’s unique financial needs with a broad range of products, including money transfers, bill payments, credit, savings and insurance, accessible through its mobile app and an extensive network of mobile money agents. The company said, it also supports businesses with services such as the PalmPay Business app, POS devices, APIs and merchant portal.

“These efforts have contributed to Nigeria’s push towards greater financial inclusion, which has reached a rate of 74% as of this year. With over 35 million users and a network of 1.2 million agents and merchants that extends across Nigeria, PalmPay has established itself as a major player in the nation’s financial services sector.

“We’ve built a platform that 35 million users trust, and with our growing network of agents and merchants,” the fintech bank said.

“PalmPay is playing a key role in digitising Nigeria’s economy. Looking ahead, our strategy is clear—continue to lead with secure, reliable solutions while fostering partnerships that empower more people and businesses to reach their financial goals,” says the managing director of PalmPay, Nigeria, Chika Nwosu.