PalmPay has introduced a new Unstructured Supplementary Service Data (USSD) code aimed at enhancing accessibility for Nigerian consumers. This addition to its service lineup demonstrates the fintech platform’s commitment to delivering inclusive and efficient solutions in a market where consistent data access can be a challenge.
The newly launched USSD platform includes a vital security feature, allowing users to remotely freeze their accounts in case of a lost or stolen phone. This security enhancement adds a layer of protection, ensuring that PalmPay customers can maintain control over their financial information, even in critical situations.
By dialing *861#, PalmPay users who do not have smartphones or reliable internet access can now make transactions across Nigeria. The USSD code works seamlessly through a vast network of over 500,000 Mobile Money Agents, making financial services more accessible to a wider population, especially in underserved areas.
Launched in 2019 with a Mobile Money operator license from the Central Bank of Nigeria, PalmPay has seen significant growth, with over 30 million registered users on its app. Additionally, 1.1 million businesses are connected via its mobile agent and merchant network, showcasing the platform’s rapid expansion and growing influence in the fintech space.
The introduction of this USSD service is a strategic move to increase convenience for PalmPay users, particularly in a market where frequent data disruptions can hinder mobile app transactions. With this development, PalmPay is ensuring that users can enjoy uninterrupted services and access to their financial accounts, regardless of internet connectivity challenges.
Chika Nwaso, Managing Director of PalmPay Nigeria, emphasized the platform’s mission to bridge the digital access gap. He stated, “The launch of our USSD service aligns with our goal of ensuring seamless connectivity for our users, enabling them to transact effortlessly, even in areas with poor data coverage.”
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