PalmPay and AfriGO have joined forces in a strategic partnership aimed at transforming Nigeria’s payment landscape. This collaboration will see the issuance of over 5 million AfriGO cards, providing Nigerians with more secure and efficient digital payment solutions. The initiative is designed to empower underserved communities, enhance financial inclusion, and drive the growth of Nigeria’s digital economy.
A Homegrown Payment Solution for Nigeria
The AfriGO Card, powered by Afrigopay Financial Services Limited (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), is a locally developed payment solution focused on strengthening financial sovereignty. By leveraging AfriGO’s robust infrastructure, PalmPay is expanding payment options and delivering innovative solutions tailored to Nigeria’s unique market needs.
At the formal launch of the PalmPay AfriGO Card in Lagos, Chika Nwosu, Managing Director of PalmPay Nigeria, and Ebehijie Momoh, Managing Director/CEO of AFSL, underscored the significance of this collaboration.
Bridging the Financial Gap with Secure and Contactless Payments
PalmPay’s commitment to distributing 5 million AfriGO cards highlights its dedication to bridging the financial gap for the unbanked and underserved. The AfriGO card, built on EMVCo standards, offers secure transactions, tokenization, and contactless payment capabilities, ensuring a seamless and protected user experience.
Speaking on the partnership, Chika Nwosu, Managing Director of PalmPay Nigeria, expressed enthusiasm:
“At PalmPay, our goal is to create financial solutions that are both innovative and inclusive. Partnering with AfriGO allows us to deliver secure, cost-effective, and locally relevant payment options that empower Nigerians and strengthen the digital economy. This marks a significant milestone in our mission to enhance financial accessibility in Nigeria.”
Ebehijie Momoh, Managing Director/CEO of AFSL, emphasized the impact of the collaboration:
“We are excited to partner with PalmPay to expand digital payment access across Nigeria. This initiative will increase financial inclusion, particularly in underserved areas, and accelerate the growth of the digital economy. By working together, we are transforming financial services and providing reliable, efficient, and secure payment solutions for Nigerians.”
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Empowering Users and Merchants with Instant Transactions
The AfriGO card will enable users to perform seamless transactions, including:
- Physical and online purchases
- ATM withdrawals
- Money transfers
- Cashless payments via Agent POS terminals
- Merchants will benefit from the AfriGO Instant Settlement service, which ensures immediate transaction finalization. This enhances cash flow, operational efficiency, and financial risk reduction. Additionally, lower transaction fees make the AfriGO card a cost-effective payment solution for businesses and consumers alike.
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Driving Innovation and Financial Sovereignty in Nigeria
As PalmPay and AfriGO push forward with this ambitious initiative, they are setting the stage for fintech innovation and collaboration, paving the way for a more inclusive and dynamic financial ecosystem in Nigeria.
This partnership reinforces PalmPay’s commitment to expanding digital financial services, bridging the financial divide, and positioning Nigeria as a leader in payment innovation.
About PalmPay
PalmPay is a leading Africa-focused fintech platform dedicated to economic empowerment. Through its secure, user-friendly, and inclusive financial services, PalmPay offers money transfers, bill payments, credit services, and savings via its mobile app and network of mobile money agents.
Since launching in Nigeria in 2019 under a Mobile Money Operator license, PalmPay has grown to over 35 million app users and 1.2 million businesses, cementing its role as a key player in Nigeria’s fintech ecosystem. For more information, visit www.palmpay.com.
About AfriGO
AfriGO is Nigeria’s first national domestic payment card scheme, developed by Afrigopay Financial Services Limited (AFSL), a subsidiary of NIBSS. AfriGO enhances financial inclusion, reduces reliance on foreign exchange, and promotes digital payments across sectors such as transportation, healthcare, hospitality, and agriculture.
More than just a payment card, AfriGO represents Nigeria’s financial sovereignty, providing secure, accessible, and locally developed payment solutions. With its focus on innovation and inclusivity, AfriGO is reshaping the Nigerian financial ecosystem, ensuring that payments are reliable, affordable, and uniquely Nigerian—a card designed for Nigeria, by Nigerians.
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