PalmPay
Liners checked this listing or its product relationship to a reasonable extent. Verification is not an endorsement or product test. How verification worksA mobile-first digital banking and mobile money platform for individuals and businesses in Africa, offering transfers, savings, bills, credit, and merchant tools.
PalmPay Product Overview
Is PalmPay Right for You?
Liners prepares and updates these highlights as product information changes. Editorial standardsBest For
- Everyday money users
- Bill payers
What It Does Well
- In-app bill payments
- Savings in the app
Things to Check
- Credit eligibility rules
- Supported billers list
About PalmPay
PalmPay is a mobile-first digital banking and mobile money platform for consumers and businesses in Africa, with a focus on everyday payments and financial access.
Key capabilities include:
- Money transfers and payments including free peer-to-peer transfers (zero transfer fees) and bill payments across a network of 300+ billers
- Savings and embedded finance such as high-yield savings plans and insurance products integrated into the app experience
- Credit and business tools including credit products and merchant payment solutions designed to support day-to-day commerce
- Access and security features such as a *USSD channel (861#) for transactions without internet access, biometric authentication, and real-time (AI-powered) fraud monitoring
Available on Web, Android, iOS, and USSD (*861#), with API access.
It follows a B2B2C model, serving individual users through its mobile app while working with partners and a 500,000+ mobile money agent network to enable cash-in and cash-out services.
Notable in the African fintech market for its scale and reach, it reports 30+ million registered users, operations across Nigeria, Ghana, and Tanzania, a 99.5% transaction success rate within 10 seconds, and licensing as a mobile money operator by the Central Bank of Nigeria.
PalmPay Facts
Liners compiles product facts from official websites, app stores, documentation, trusted public sources, and details shared by product teams during editorial review. We also consider crowdsourced updates when they include verifiable evidence, and refresh facts as information changes. How we source dataAs of Oct 5, 2026, PalmPay is rated 4.2 on the App Store from 78.1K reviews and 4.6 on Google Play from 1.3M reviews with 50M+ installs.
Recent Reviews for PalmPay
Reviews reflect each reviewer's opinion. Companies cannot pay to alter or remove reviews. A verified review includes proof that Liners checked to an extent. Learn how reviews workHow is the score calculated?
Every product starts at a 3.5-star baseline worth 7 reviews. Each approved review pulls the score toward the real average, so a product with one 5-star review shows about 3.7.
Learn how reviews work
NG · 1 review
Sep 3, 2026
I have never for once regret using PalmPay, one feature I love is the daily saving
NG · 2 reviews
Sep 3, 2026
Using the account number generated from palmpay. Money is always deducted from my account whenever I receive money from other banks aside from palmpay. I believe my money should not be deducted if an outsider sends money through my palmpay generated account number. Thank you very much, I look forward to the upgrade.
Compare PalmPay With Similar Products
PalmPay Funding History
Liners compiles funding history from company announcements, investor records, and trusted reporting. We refresh it as new rounds are confirmed. How we source dataPalmPay has raised $140M across 2 recorded funding events. The latest was Series A in Aug 2021.
- Total Raised:
- $140M
- Latest Round:
- Series A
PalmPay Investors & Funding Rounds
PalmPay Founders & Leadership Team
Liners compiles leadership profiles from official company pages, professional profiles, and trusted public sources. We refresh them as teams change. How we source data
Latest PalmPay News & Updates
Liners collects product news from official company updates and trusted publications. We refresh coverage as new articles are published. How we source dataSign in to see all 16 articles
Get full access to the latest news and updates
Research Mentioning PalmPay
Browse all research
BankingWe Opened a Naira Account at Every Bank in Nigeria, Here's What We Found
A Liners field study across traditional banks and digital banks in Nigeria, with real BVNs and NINs.
Frequently Asked Questions About PalmPay
To open a PalmPay account, you need a phone number to get started, your NIN, and a live selfie for facial verification. BVN is sometimes requested upfront and sometimes later in the flow, depending on the version of the app you're on, but expect to provide it either way to unlock full features.
This lines up with the wider Nigerian market. In Liners' 2026 Naira account opening study, NIN was requested in 96 of 100 walk-in bank visits, and BVN blocked the process from starting entirely at 42 of them. Having both ready before you start speeds up account opening at any bank, not just PalmPay.
- Download the PalmPay app from the Google Play Store or Apple App Store.
- Enter your phone number and verify it with the OTP sent by SMS.
- Enter your NIN, and your BVN if the app asks for it at this stage.
- Complete the facial recognition and liveness check.
- Set up your transaction PIN.
- Your account number appears on screen instantly.
Liners researchers completed this flow in as little as 4 minutes and rarely needed more than 16, as part of our Naira account opening field study. One in five PalmPay opens needed a second attempt at the facial scan, so budget a little extra time for that step if it doesn't clear the first time. A virtual debit card is available the same session; you just have to request it in-app.
PalmPay is a fintech platform offering money transfers, bill payments, credit services, savings, and mobile money agent services. It works through a smartphone app and agent network, enabling users to send and receive money, pay bills, shop, and earn cashback with features like unlimited free bank transfers.
PalmPay provides fee-free accounts and unlimited free bank transfers with no daily limits or hidden fees. Some transactions like local transfers may incur charges from ₦50 to ₦200, international transfers 2% to 5%, and bill payments around ₦100, though promotions can reduce or eliminate these.
PalmPay operates in Nigeria, Ghana, and Tanzania.
Is PalmPay Your Product?
Claim this listing to keep its information fresh and reply to reviews.
Breet — Crypto & Stablecoins Payment API for African Businesses 
Promptmonitor
Promptmonitor — Track, measure, and improve how AI recommends your brand.