PalmPay Partners with AfriGO to Boost Financial Inclusion in Nigeria
In a strategic move to expand financial access and strengthen Nigeria’s digital economy, PalmPay has partnered with AfriGO to issue over 5 million AfriGO cards to Nigerians. This collaboration is designed to empower underserved communities by providing secure, cost-effective, and locally tailored payment solutions.
Enhancing Financial Inclusion with Homegrown Payment Solutions
The AfriGO Card, powered by Afrigopay Financial Services Limited (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), is a homegrown payment solution aimed at bolstering financial sovereignty. By integrating AfriGO’s infrastructure, PalmPay is expanding payment options to cater to the unique needs of the Nigerian market.
Built on EMVCo standards, the AfriGO card supports secure transactions with tokenisation and contactless payment capabilities. These features will be seamlessly integrated into PalmPay’s digital ecosystem, ensuring a frictionless and secure payment experience for users.
Leaders Speak on the Partnership
Chika Nwosu, Managing Director of PalmPay Nigeria, described the partnership as a milestone in redefining financial accessibility in Nigeria.
“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 localised payment options that empower Nigerians and strengthen the digital economy,” Nwosu said.
Similarly, Ebehijie Momoh, Managing Director/CEO of Afrigopay Financial Services Limited (AFSL), emphasised the transformative impact of the initiative.
“We are excited to partner with PalmPay to revolutionise 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, driving financial inclusion and supporting Nigeria’s rapidly growing digital economy,” Momoh stated.
Benefits for Consumers and Merchants
The AfriGO card will enable users to conduct seamless transactions, including:
- Physical and online purchases
- ATM withdrawals
- Money transfers
- Cashless payments via Agent POS terminals
For merchants, the partnership brings reduced transaction fees and instant settlement times, ensuring greater efficiency and improved cash flow. The AfriGO Instant Settlement service further enhances transaction finalisation, reducing risks and increasing financial accessibility.
Driving Nigeria’s Digital Payment Innovation
This collaboration highlights PalmPay’s ongoing efforts to expand digital financial services and position Nigeria at the forefront of payment innovation. By bridging the financial gap for the unbanked and underserved populations, the partnership reinforces Nigeria’s commitment to a cashless and digitally inclusive economy.
