LAGOS, Nigeria, September 16, 2024/ – PalmPay , a prominent financial platform with over 30 million users on its smartphone app in Nigeria, has launched a new USSD code service to enhance financial accessibility across the country. The USSD code, *861#, allows Nigerians to manage their finances without needing internet connectivity, enabling a broad range of banking transactions directly from their mobile phones.
Thank you for reading this post, don't forget to subscribe!Operating in Nigeria since 2019 under a Mobile Money Operator license from the CBN, PalmPay has introduced a comprehensive financial services platform offering money transfers, bill payments, credit services, and savings through its ‘superapp’. For users without smartphones, transactions can be conducted through a nationwide network of over 500,000 Mobile Money Agents.
The introduction of the USSD code aims to address common data network outages and improve accessibility. Chika Nwosu, Managing Director for Nigeria, highlighted the company’s dedication to financial inclusion: “The USSD service is a key step in bridging the digital access gap. It ensures seamless connectivity and adds a security feature allowing users to remotely freeze their accounts if their phones are lost or stolen.”
With over 30 million registered users and 1.1 million businesses connected through its network, PalmPay has been a significant force in enhancing financial inclusion in Nigeria. A third of its users have reported opening their first financial account through the platform. Recently, PalmPay was named one of the World’s Top 250 Fintech Companies for 2024 by CNBC and Statista.
PalmPay continues to strengthen its position in Nigeria’s fintech sector with its user-friendly interface, reliable transactions, and focus on fee-free transfers and promotions.
