PalmPay has partnered with AfriGO to issue over 5 million AfriGO cards aimed at improving financial inclusion in Nigeria. The collaboration focuses on enhancing payment options tailored to local needs, ensuring secure transactions. Key benefits include reduced transaction fees for merchants and a secure payment solution for consumers. This partnership signifies a commitment to financial empowerment and innovation in Nigeria’s digital economy.
PalmPay has forged a strategic alliance with AfriGO, aiming to transform the payment landscape in Nigeria by distributing over 5 million AfriGO cards. This initiative is designed to enhance financial inclusion, empower underserved communities, and strengthen the digital economy in Nigeria.
The AfriGO Card, developed by Afrigopay Financial Services Limited, a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), is a uniquely Nigerian payment solution aimed at promoting financial sovereignty. By utilizing AfriGO’s robust infrastructure, PalmPay intends to broaden payment options specifically tailored to meet the local market demands.
PalmPay’s initiative to issue 5 million AfriGO cards highlights its commitment to narrowing the financial disparity for unbanked and underserved populations in Nigeria. Designed according to EMVCo standards, the AfriGO card offers secure transactions through tokenization and has contactless payment capabilities, ensuring users a seamless and secure payment experience within PalmPay’s extensive digital ecosystem.
Chika Nwosu, Managing Director of PalmPay Nigeria, expressed his enthusiasm for the partnership, stating that it aligns with the company’s mission to provide innovative and inclusive financial solutions. He emphasized the importance of delivering secure, cost-effective payment options to empower Nigerians and foster the growth of the digital economy.
Ebehijie Momoh, Managing Director/CEO of Afrigopay Financial Services Limited, remarked on the broader implications of the partnership, highlighting its role in expanding access to digital payments throughout Nigeria. He noted that the collaboration will particularly benefit underserved regions, facilitating transactions such as purchases, ATM withdrawals, money transfers, and cashless payments via Agent POS terminals.
Merchants will experience reduced transaction fees and quicker settlement times through the AfriGO cards, thereby enhancing their financial efficiency. Consumers will benefit from a secure, affordable, and locally supported payment alternative, simplifying their daily financial transactions. This partnership emphasizes PalmPay’s commitment to enhancing digital financial services and establishing Nigeria as a leader in payment innovation.
In conclusion, PalmPay’s partnership with AfriGO marks a significant step towards enhancing financial inclusion in Nigeria. By issuing 5 million AfriGO cards and providing secure payment options, the collaboration aims to empower underserved communities and promote economic growth. As both companies focus on tailored financial solutions, they contribute to Nigeria’s position as a forefront player in digital payments. The initiative paves the way for efficient, affordable, and accessible financial services for all Nigerians.
Original Source: www.thisdaylive.com
