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PalmPay App: The Shocking Truth No One Tells You!

Updated: Apr 4

Have You Been Sleeping on PalmPay? Here’s What You Need to Know!

PalmPay App: The Shocking Truth No One Tells You!
PalmPay App: The Shocking Truth No One Tells You!

Let’s be honest…


In Nigeria, finding a fast, reliable, and stress-free payment app is like searching for a power bank when PHCN strikes—frustrating! But what if I told you there's one app making waves right now?


Enter PalmPay—the fintech app that’s shaking up mobile banking in Nigeria. But is it really the best?


Or just another hype?


In this deep dive, we’ll uncover the shocking truths about PalmPay, from its ownership and security to how you can make money using it. Keep reading—you might just rethink your banking choices!


What You Will Learn


  1. Who owns PalmPay and how it works

  2. How to download the PalmPay app

  3. Whether CBN recognizes PalmPay (because we don’t want wahala)

  4. How to earn money on PalmPay

  5. The pros and cons of PalmPay compared to other mobile banks

  6. And so much more!


Table of Contents



What is PalmPay?


PalmPay is a digital payment app that allows users to send and receive money, buy airtime, pay bills, and even earn rewards.


Launched in 2019, PalmPay has quickly grown into one of Nigeria’s top fintech platforms.


Which Bank Owns PalmPay?


PalmPay is owned by Transsnet Financial, a joint venture between Transsion Holdings (the parent company of Tecno, Infinix, and Itel) and NetEase, a Chinese technology company.


Who is the CEO of PalmPay?


The current CEO of PalmPay is Chika Nwosu, a fintech expert who previously worked at 9mobile and other major financial institutions.


How to Contact PalmPay Customer Service


Need to reach PalmPay? Here’s how:


  • Phone: 018886888

  • Email: support@palmpay.com

  • Social Media: @PalmPayApp on Twitter and Facebook


How to Download the PalmPay App


Downloading the PalmPay app is simple! Follow these steps:


  1. Go to the App Store or Google Play Store

  2. Search for "PalmPay" and click on the official app

  3. Click "Install" and wait for the download to complete

  4. Open the app, sign up, and start enjoying PalmPay!


Is PalmPay Recognized by CBN?


Yes! PalmPay is fully licensed by the Central Bank of Nigeria (CBN) and operates legally as a mobile money service provider.


Which is Better: PalmPay or OPay?


PalmPay and OPay are two of Nigeria’s most popular fintech apps, but which one is better?


Here’s a quick comparison:


PalmPay: Great for rewards, easy transfers, and bill payments

OPay: Offers more services like ride-hailing, betting, and loans


Both are good, but it depends on what you need!


How to Make Money on PalmPay


Yes, you can make money using PalmPay!


Here’s how:


  1. Referral Bonuses – Invite friends and earn cash rewards

  2. Cashback on Transactions – Earn discounts and bonuses on purchases

  3. PalmPay POS Business – Become an agent and earn commission on transactions


Pros of PalmPay


PalmPay comes with some impressive benefits:


  1. Fast and Easy Transactions – Send and receive money in seconds

  2. Cashback & Rewards – Earn bonuses when you use the app

  3. Low Transaction Fees – Affordable compared to traditional banks

  4. Licensed by CBN – 100% legal and secure

  5. User-Friendly Interface – Simple, clean, and easy to navigate


Cons of PalmPay


But let’s be honest—nothing is perfect.


Here are some drawbacks:


  1. Customer Support Issues – Some users complain about slow responses

  2. Limited Features – Fewer services compared to competitors like OPay

  3. Network Glitches – Occasional app downtimes reported


FAQs


Is PalmPay available on iOS?

Yes! You can download it from the Apple App Store.


Is PalmPay available on Android?

Absolutely! It’s available on the Google Play Store for Android users.


Which bank is PalmPay under?

PalmPay operates as a mobile money service provider licensed by the CBN but is not directly owned by a Nigerian bank.


What is the code for BVN?

Dial 5650# to check your BVN on your registered phone number.


How much is a PalmPay POS machine?

Prices vary, but you can get a PalmPay POS for ₦20,000 - ₦30,000 depending on your location.


How do I call PalmPay customer service?

You can call 018886888 for direct support.


Conclusion


PalmPay is a fantastic fintech app for Nigerians looking for fast, secure, and rewarding transactions.


Whether you’re sending money, paying bills, or looking to earn cashback, PalmPay has something for you!


If you're tired of bank wahala and want an easier way to handle your finances, why not try PalmPay today?


But let’s hear from you… Have you used PalmPay before? What was your experience like? Drop your thoughts in the comments!


Simon Taki Zaku

Founder, CEO, IbiFoundry Limited

For the IbiFoundry.com.ng E-magazine.

Planned, Designed by Simon Zaku, Founder, IbiFoundry, 2024.

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