PalmPay Hits 10 Million User Milestone in Nigeria

 

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PalmPay Hits 10 Million User Milestone in Nigeria

The fintech has gained significant traction with its payment’s app and nationwide agency banking network

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LAGOS, Nigeria, August 31, 2022/ -- PalmPay (https://PalmPay.com/), a fintech innovator aiming to make digital payment more accessible and flexible, announced that it has reached 10 million users in Nigeria. This represents a doubling in its user base within just six months and puts its customer numbers in the same league as major institutions only 3 years after the company launched in the market. The fintech, which operates under a Mobile Money Operator license from the Central Bank of Nigeria, has gained significant traction with its payment’s app and nationwide agency banking network. Its proposition of instant financial account creation, fee-free bank transfers and cashback rewards on airtime and bill payments has appealed to Millennial and Gen-Z consumers, who are looking for more affordable banking options and prefer the convenience of a digital-first service. Nowadays PalmPay is processing millions of transactions a day. And around 20% of the company’s customer base report that the PalmPay app was their first financial account, demonstrating that the Mobile Money Operator is contributing to driving progress towards financial inclusion targets in Nigeria, where 36% of the population remains unbanked. Nigerians without smartphones can visit one of PalmPay’s 200,000 mobile money agents across the country, who can transact on their behalf or issue an innovative QR card that can be used to hold a balance. Consumers can also use PalmPay agents to deposit cash to their PalmPay accounts and to withdraw money using their debit cards through PalmPay-branded POS machines. “We are delighted to be able to celebrate this growth milestone and are proud of PalmPay’s track record of making cutting-edge financial services accessible to every Nigerian - including the unbanked.”, said Mr Chika Nwosu, Managing Director, PalmPay Nigeria, "The pandemic has accelerated the shift from cash to digital payments and we are looking forward to continuing to work together with regulators and our partners to innovate to meet the financial needs of consumers." “Our significant growth in Nigeria demonstrates PalmPay’s ability to innovate to meet the financial needs of consumers, and we are looking forward to replicating this success as we scale in more markets across Africa.” said Sofia Zab, PalmPay Global CMO. Distributed by APO Group on behalf of PalmPay.   Media Contact: PalmPay Global Communications press@palmpay-inc.com About PalmPay: PalmPay is a fintech innovator that aims to make digital payment more accessible and flexible for consumers and merchants. We improve users' digital payment experiences by offering instant financial account creation, money transfers, and bill payments. Since launching in 2019, PalmPay has quickly established itself as one of the continent's leading and fastest-growing payment providers with 10 million users and a mobile money agent network of 200,000. PalmPay raised a US$100 million Series A round of funding in August 2021, with US$140 million raised in total. The company is now operating in Nigeria and Tanzania, and will be scaling its proposition in other African markets in 2022. Learn more about PalmPay at https://www.PalmPay.com/ SOURCE PalmPay

Citibank introduces iPad® App for Digital Banking

Citibank Sets New Standard for Digital Banking with Debut of Citibank for iPad® App
One-of-a-kind app offers traditional ledger-style banking as well as rich graphics and visual representations of consumer accounts and transactions



NEW YORK – July 27, 2011 /PRNewswire/ — Furthering CEO Vikram Pandit’s vision to become the world’s digital bank, Citibank today unveiled its first-ever consumer banking app designed specifically for iPad. Citibank for iPad® provides U.S. consumer banking clients with an engaging, visually rich tool to track, analyze and plan their finances.

“Our iPad app is all about listening to our clients and understanding that they need their digital banking experience to be more engaging and dynamic – beyond the standard static tables you find with other iPad apps,” said Tracey Weber, Head of Internet and Mobile Banking, North America Consumer Banking, Citi. “We’re offering a whole new way of banking, with enhanced visuals and interactive tools. We’re focused on continually offering modern solutions that help put ease into our clients’ financial lives, wherever and whenever.”

Citibank for iPad is the first app from a major U.S. bank to depart from traditional ledger-style banking and offer graphs and visual representations of consumer accounts and transactions. The intuitive user interface makes it easy for customers to check balances, control their cash flow, pay bills, transfer funds, access rewards and find nearby Citibank ATMs and branches, all at the touch of their screen.

Unlike other banking apps for iPad that mirror the PC or mobile phone interface, the Citibank app takes advantage of the unique tablet experience to provide users with a visually revealing, insightful interface along with a host of interactive new features.

New way of banking – More than just an account management tool, the app allows consumers to more deeply engage with their experience, from basic banking to more in-depth financial management. Advanced features allow users to view information and take actions that will make managing their finances easier, including:

* Plan cash outflows with the help of a unique interactive chart of past and future payments and transfers
* Analyze personal spending habits through automatically generated, customizable charts of payee spending
* Compare personal spending habits with general consumer data, filtering by location, age group, income bracket and purchase category

Access to Resources – Citibank for iPad also offers access to resources and information that help users manage their financial lives, including direct access to exclusive, continually updated content from Citi Personal Wealth Management and Women & Co., a service of Citibank.

Real-time customer service – Consumers can also use the app to reach customer service directly. Citi is the only major U.S. bank to offer direct access to its Twitter customer support option via its tablet app.
To Download or Learn More:

* Citibank for iPad is available free from the App StoreSM on iPad or at www.itunes.com/appstore/.
* View a demo of Citibank for iPad on YouTube at: http://citi.us/okRNbo.
* To learn more about Citi, please visit www.citi.com.

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Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com.

Women & Co. is a vehicle from Citibank for insightful women to build their financial knowledge, bolster their confidence and create financial strategies that will help them achieve their goals. Through access to education, resources, and a community of financially minded women, Women & Co. is Where Wisdom, Wealth and Women Meet.sm Sign up for free today at womenandco.com.

© 2011 Citigroup Inc. Citibank, N.A., Member FDIC. Citi and Citibank and Arc Design are registered service marks of Citigroup Inc. iPad and iTunes are registered trademarks of Apple Inc. App Store is a service mark of Apple Inc. Content purchased from the iTunes store is for personal lawful use only. Don’t steal music.