PalmPay has partnered with AfriGO to issue over 5 million AfriGO cards to Nigerians, aiming to enhance financial inclusion and empower underserved communities. With secure, EMVCo-compliant transactions, this initiative will bolster Nigeria’s digital economy, providing diverse payment options for users and merchants alike.
PalmPay and AfriGO have entered a strategic partnership aimed at transforming Nigeria’s payment landscape by issuing over 5 million AfriGO cards. This initiative intends to empower underserved communities, promote financial inclusion, and strengthen the nation’s digital economy.
The AfriGO card is developed by Afrigopay Financial Services Limited, a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS). It serves as a local payment solution that enhances financial sovereignty and expands the range of payment options available to Nigerians, tailored specifically to their needs.
PalmPay’s initiative to distribute 5 million AfriGO cards emphasizes its commitment to bridging the financial gap for unbanked and underserved populations in Nigeria. This card adheres to EMVCo standards, ensuring secure transactions through tokenization and contactless payment capabilities, seamlessly integrated into PalmPay’s digital ecosystem.
Chika Nwosu, Managing Director of PalmPay Nigeria, expressed excitement for the partnership, stating, “At PalmPay, we are committed to creating financial solutions that are not only innovative but also inclusive.” He emphasized the importance of providing secure and cost-effective payment options.
Ebehijie Momoh, Managing Director/CEO of Afrigopay Financial Services Limited, remarked, “We are excited to partner with PalmPay to revolutionise financial services and expand access to digital payments across Nigeria.” This collaboration aims to enhance the accessibility of digital payments, particularly for underserved areas, contributing to Nigeria’s rapidly growing digital economy.
The AfriGO cards will facilitate a variety of transactions including physical and online purchases, ATM withdrawals, and money transfers, with an emphasis on cashless payments through Agent POS terminals. Merchants will benefit from lower transaction fees and instant settlement times, while consumers will experience a secure and affordable payment solution.
This partnership illustrates PalmPay’s dedication to enhancing digital financial services, positioning Nigeria as a leader in payment innovation.
In summary, the partnership between PalmPay and AfriGO signifies a significant step toward advancing financial inclusion in Nigeria. By issuing 5 million AfriGO cards, both companies aim to provide secure and localized payment solutions that cater to the needs of underserved communities. This collaboration not only promotes the growth of the digital economy but also enhances the accessibility of essential financial services for the unbanked population.
Original Source: www.thisdaylive.com
