PalmPay
PalmPay is a digital banking and financial services platform for individuals and businesses, founded in 2019 and headquartered in Lagos, Nigeria.
What PalmPay is
PalmPay is a digital banking and financial services platform for individuals and businesses, founded in 2019 and headquartered in Lagos, Nigeria. Its app supports money transfers, bill payments, shopping, savings, credit, and rewards. PalmPay says users can make unlimited free transfers to PalmPay users and other Nigerian banks, without daily limits. Its Nigeria page advertises savings interest of up to 20%, paid daily, with withdrawals available anytime. Bills include airtime, data, water, and TV, with cashback on bills and shopping. Customers can pay participating merchants through Pay With Transfer; PalmPay says it is accepted at more than 600,000 shops. PalmPay Business provides payment acceptance, transaction monitoring, reports, reconciliation, and POS management. SDKs and APIs support collections, bulk bill payments, bulk transfers, wallet payments, payouts, and virtual accounts, using card, bank, wallet, and USSD methods. Business pricing is custom. PalmPay states that it is licensed and regulated by Nigeria’s Central Bank and that deposits are insured by the NDIC.
Good
- Unlimited free transfers with no daily limits
- Savings interest advertised up to 20%
- Supports card, bank, wallet, and USSD payments
- Business dashboard includes reports and reconciliation
- 24/7 customer care and fraud desk
Watch out
- Account access requires age 18 or older
- Business pricing is custom
- Merchant acceptance is described for participating shops
- Services and licensing details center on Nigeria
Who it suits
PalmPay suits individuals seeking transfers, bills, savings, shopping, credit, and rewards, plus businesses needing payment APIs and transaction tools. Account access requires users to be at least 18.
Verdict
PalmPay combines consumer financial services with business payment infrastructure across app, web, API, and mobile platforms. Its broad payment functions suit users and companies whose needs align with the listed markets and integrations.
The facts
Each one read from PalmPay's own pages, with the date it was checked.
What it does
- Account eligibility
- PalmPay's terms say users must be at least 18 years old to access its services or create an account.checked 8 Oct 2026
- API payment methods
- PalmPay’s merchant documentation lists card, bank, wallet, and USSD payment collection, plus payouts and virtual accounts.checked 7 Oct 2026
- Business integrations
- PalmPay offers business integrations through SDKs and APIs for payment acceptance, bulk bill payments, bulk transactions and collections.checked 8 Oct 2026
- Business pricing
- PalmPay’s business inquiry page offers custom pricing, including cost-plus pricing and volume discounts.checked 7 Oct 2026
- Business tools
- PalmPay Business provides a dashboard for monitoring payment processing and POS devices, transaction records, reconciliation and reports.checked 8 Oct 2026
- Business use
- PalmPay says its APIs support collections, payouts, and embedded finance using bank, wallet, card, and mobile money rails.checked 7 Oct 2026
- Credit and protection
- The Nigeria page advertises credit and protection products for health, phones and more.checked 8 Oct 2026
- Everyday payments
- The app supports bill payments including airtime, data, water and TV, and offers cashback on bills and shopping.checked 8 Oct 2026
- Licensing and deposits
- PalmPay Limited says it is licensed and regulated by Nigeria's Central Bank, and that deposits are insured by the Nigerian Deposit Insurance Corporation.checked 8 Oct 2026
- Markets
- PalmPay says it has a presence in Nigeria, Ghana, Tanzania and the United Kingdom.checked 8 Oct 2026
- Merchant payments
- Businesses can accept card and bank transfer payments in person through PalmPay POS and use Pay With Transfer for customer payments.checked 8 Oct 2026
- Payment coverage
- PalmPay's business payment page says it can accept payments from any Nigerian bank and lists card, bank, wallet and USSD payment methods.checked 8 Oct 2026
- Payment integrations
- PalmPay offers SDKs and APIs for payment collection, bulk bill payments, bulk transfers, and wallet payments.checked 7 Oct 2026
- Personal finance
- The PalmPay app offers money transfers, bill payments, shopping, savings, credit, and rewards.checked 7 Oct 2026
- Savings
- The Nigeria page advertises savings interest of up to 20%, paid daily, with withdrawals available anytime.checked 8 Oct 2026
- Security
- PalmPay says it uses advanced encryption, fraud detection and multiple authentication layers to safeguard data and funds.checked 8 Oct 2026
- Support
- PalmPay advertises 24/7 customer care and fraud support with in-app reporting tools.checked 8 Oct 2026
- Transfers
- PalmPay says users can make unlimited free transfers to PalmPay users and banks, with no daily limits or hidden fees.checked 8 Oct 2026
- What it does
- PalmPay describes itself as a digital banking and financial services platform for individuals and businesses.checked 8 Oct 2026
Where it runs
- Business platform
- PalmPay Business provides tools for accepting payments, managing transactions, viewing reports, and reconciling records.checked 7 Oct 2026
The company
- Founded
- 2019checked 28 Sep 2026
- Headquarters
- Lagos, Nigeriachecked 28 Sep 2026
