PalmPay Steps Up Tap-to-Pay Efforts to Make Digital Banking Easier for All Nigerians
Wafric News – May 7, 2025
PalmPay is stepping up its mission to bridge the financial gap in Nigeria by promoting the adoption of contactless payments, a move aligned with its vision for a cashless, digitally inclusive future.
At the BusinessDay Future of Payment Conference held recently in Lagos, the fintech giant reaffirmed its commitment to reshaping Nigeria’s payment ecosystem through smarter, faster, and more secure technologies.
Speaking at the event, Ifeanyi Uzoka, PalmPay’s Senior Business Development Manager, highlighted that while digital adoption is growing, cash still dominates in many parts of Nigeria—especially in rural areas where digital infrastructure is limited.
“Regulatory support has helped drive contactless adoption, but cash still rules the streets. We’re tackling this by making secure, tap-to-pay options more accessible,” Uzoka stated.
PalmPay is already taking action. In collaboration with Verve, the company has launched contactless-enabled debit and premium cards, allowing users to make payments with just a tap—no need to swipe or insert a card.
The technology behind contactless payments includes NFC (Near Field Communication), QR codes, and RFID, and is increasingly seen as the next frontier in modern banking. However, limited infrastructure—especially outside urban centres—continues to slow its adoption.
Back in 2012, the Central Bank of Nigeria (CBN) introduced the cashless policy to promote digital alternatives and reduce the reliance on physical cash. Building on this, the CBN recently issued draft guidelines to standardize contactless payment systems and ensure consumer safety.
PalmPay says it is fully aligned with this national goal. According to Uzoka, all transactions on PalmPay’s platform are equipped with an added layer of authentication, ensuring both convenience and security.
With over 35 million users across Nigeria, PalmPay’s investment in contactless technology is part of a larger strategy to democratize financial services and support underserved communities.
“Our push into contactless payments is about more than technology—it’s about inclusion,” Uzoka concluded. “We want every Nigerian, from Lagos to Lokoja, to have access to safe and easy digital payments.”
By WafricNews Desk.
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