PalmPay, a leading Africa-focused fintech platform has unveiled two cost-saving financial products – Unlimited Free Transfer and Target Savings – for users of its app in Nigeria.
Details
Users of the PalmPay app will be able to enjoy unlimited free transfers to all banks in Nigeria and also customize their savings plan to suit their preferred savings amount, duration, and frequency.
The PalmPay Target Savings allows users to create savings goals and customize their preferred savings duration and frequency. The system will automatically save for you based on your set frequency and amount.
Once the user has attained their goals, reached their savings target date and has achieved their set savings amount, they earn an attractive interest rate of 12% Per Annum (P.A) for their savings discipline on the amount they’ve been able to save.
What They’re Saying
While announcing the unlimited free transfer, Managing Director of PalmPay Nigeria, Chika Nwosu, said the fintech company was offering accessible and affordable financial services to its users to perform transactions without worrying about bank charges on transfers to all banks for an initial phase of 3 months.
“We are excited to introduce unlimited free transfers to our users. This aligns with our mission to provide inclusive financial services that meet the needs of our diverse user base. We believe that everyone should have access to affordable financial services, and this update is a significant step towards that goal,” Mr Nwosu said.
The Bigger Picture
PalmPay has its footprint in Ghana where it operates with an enhanced payment service providers (EPSP) license, offering merchant acquiring solutions (All-in-one payment solutions for business), and also operates in Tanzania as a payment system provider, with plans to grow its multi-country and cross-border presence.
Catch up on news and other tidbits on our WhatsApp Community Page, Twitter/X, and subscribe to our weekly newsletter to ensure you don’t miss out on any news.
