News Highlights:
- Expanding Financial Inclusion
- Strengthening Nigeria’s Digital Economy
PalmPay and AfriGO have announced a strategic partnership to enhance financial inclusion, empower underserved communities, and strengthen Nigeria’s digital economy, even as the collaboration aims to transform the payment landscape by issuing over 5 million AfriGO cards to Nigerians.
AfriGO Card, powered by Afrigopay Financial Services Limited, a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), is a homegrown payment solution designed to bolster financial sovereignty.
Digital TimesNG reports that by leveraging AfriGO’s infrastructure, PalmPay is creating more payment options by providing solutions tailored specifically to local market needs.
PalmPay’s commitment to issuing 5 million AfriGO cards underscores its dedication to bridging the financial gap for the unbanked and underserved populations in Nigeria.
The AfriGO card, built on EMVCo standards with tokenization and contactless payment capabilities, seamlessly integrates into PalmPay’s digital ecosystem to provide users with a secure and frictionless payment experience.
A Commitment to Innovation and Financial Accessibility
Chika Nwosu, Managing Director of PalmPay Nigeria, was enthusiastic about the partnership: “At PalmPay, we are committed to creating financial solutions that are not only innovative but also inclusive.
“Partnering with AfriGO allows us to deliver secure, cost-effective, and localized payment options that empower Nigerians and strengthen the digital economy. This is a milestone in our mission to redefine financial accessibility in Nigeria.”
Similarly, Ebehijie Momoh, Managing Director/CEO of Afrigopay Financial Services Limited (AFSL), highlighted the broader impact of the partnership.
In her words, “We are excited to partner with PalmPay to revolutionize financial services and expand access to digital payments across Nigeria.
“Through this collaboration, AfriGO and PalmPay will provide enhanced access to digital payments—particularly in underserved areas—drive financial inclusion, and support the rapidly growing digital economy in Nigeria.
“AfriGO cards will enable users to perform seamless transactions, including physical and online purchases, ATM withdrawals, money transfers, and cashless payments via Agent POS terminals.
“The AfriGO Instant Settlement service ensures that merchants and agents benefit from immediate transaction finalization, leading to greater efficiency, improved cash flow, and reduced risk.”
For merchants, the AfriGO cards promise reduced transaction fees and instant settlement times, Consumers will enjoy a secure, affordable, and locally supported payment solution that enhances their daily financial interactions.
As PalmPay and AfriGO move forward with this ambitious initiative, they pave the way for fintech innovation and collaboration, fostering a more inclusive and dynamic financial ecosystem in Nigeria.
This partnership underscores PalmPay’s dedication to expanding digital financial services and positioning Nigeria at the forefront of payment innovation.