Today's Bulletin: February 12, 2025

More results...

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Africacom
AfricaCom 2024
AI
Apps
Apps
Banking
Broadcast
CABSAT
Cabsat
Cloud
Column
Content
Corona
DTT
eCommerce
Editorial
Education
Entertainment
Events
Fintech
Fixed
Gitex
Gitex Africa
GSMA Cape Town
Healthcare
IBC
Industry Voices
Infrastructure
IoT
MNVO Nation Africa
Mobile
Mobile Payments
Music
MWC Barcelona
MWC Barcelona 2025
MWC Kigali
News
Online
Opinion Piece
Q&A
Satellite
Security
Software
Startups
Streaming
Technology
TechTalks
TechTalkThursday
Telecoms
Utilities
Video Interview
Follow us

PalmPay Recognized as Key Driver of Mobile Money Adoption in Nigeria by GSMA Report

April 25, 2024
2 min read
Author: Aayushya Ranjan

PalmPay, a leading pan-African fintech, has been highlighted by the GSMA in the recently released ‘The State of the Industry Report on Mobile Money 2024’  as a key player driving the adoption of mobile money in Nigeria.

In the report, GSMA praised PalmPay as a “prominent non-MNO-led mobile money provider with a significant market share in Nigeria” and a top driver of financial inclusion in Africa’s $912 billion mobile money industry.

This recognition underscores our commitment to drive financial inclusion and economic empowerment across the continent.

By leveraging the increase in smartphone adoption, PalmPay made a significant contribution to growing the use of mobile money in Nigeria.  Our easy-to-use and comprehensive digital and financial superapp not only provides access to seamless and secure transactions but also opens the door to cutting-edge, affordable financial services for the unbanked and underbanked population.

Sofia Zab, Global Chief Marketing Officer, PalmPay

The PalmPay app offers money transfers, airtime, data and bill payments, as well as access to other financial services such as credit and savings. Customers without their own device can access PalmPay’s services through the company’s network of 500,000 mobile money agents.

Since launching in Nigeria in 2019 under a Mobile Money Operator (MMO) license, PalmPay has registered over 30 million accounts on its smartphone apps. In addition to the self-serve app, its network of 1.1 million agents and merchants is serving 15 million customers monthly. The fintech also operates in Ghana and Tanzania.

$600 billion to the GDP of countries with a mobile money service” and opening up more “opportunities for citizens, businesses and economies across the world.

Mats Granryd, Director General, GSMA

He stated that Sub-Saharan Africa has been a driver of mobile money’s success, and was home to almost three-quarters of the world’s accounts. West Africa contributed significantly to the growth of the industry in recent years, with the number of registered mobile money accounts doubling between 2013 and 2023. This growth was mainly driven by Nigeria, Ghana and Senegal.

Follow us on LinkedIn

Newsletter signup

Sign up for our weekly newsletter and get the latest industry insights right in your inbox!

Please wait...

Thank you for sign up!