PalmPay (www.PalmPay.com), a leading pan-African fintech, has actually been highlighted by the GSMA in the just recently launched ‘The State of the Sector Record on Mobile Cash 2024’ as a principal driving the fostering of mobile cash in Nigeria.
In the record, GSMA commended PalmPay as a “famous non-MNO-led mobile cash service provider with a substantial market share in Nigeria” and a leading motorist of economic incorporation in Africa’s $912 billion mobile cash market.
Discussing the record, Sofia Zab, Global Principal Advertising And Marketing Policeman, PalmPay, commented:
” This acknowledgment highlights our dedication to drive economic incorporation and financial empowerment throughout the continent.
” By leveraging the boost in smart device fostering, PalmPay made a substantial payment to expanding using mobile cash in Nigeria. Our simple and thorough electronic and economic superapp not just gives accessibility to smooth and safe and secure deals yet additionally unlocks to cutting-edge, budget friendly economic solutions for the unbanked and underbanked populace.”
The PalmPay application supplies cash transfers, airtime, information and expense settlements, along with accessibility to various other economic solutions such as credit score and cost savings. Clients without their very own tool can access PalmPay’s solutions via the firm’s network of 500,000 mobile cash representatives.
Given that introducing in Nigeria in 2019 under a Mobile Cash Driver (MMO) certificate, PalmPay has actually signed up over 30 million accounts on its smart device applications. Along with the self-serve application, its network of 1.1 million representatives and sellers is offering 15 million consumers month-to-month. The fintech additionally runs in Ghana and Tanzania.
In the record, Mats Granryd, Supervisor General of GSMA, kept in mind that the market had actually expanded in the 10 years to 2022, with mobile cash adding “$ 600 billion to the GDP of nations with a mobile cash solution” and opening a lot more “chances for people, organizations and economic situations throughout the globe.”
He specified that Sub-Saharan Africa has actually been a vehicle driver of mobile cash’s success, and was home to nearly three-quarters of the globe’s accounts. West Africa added dramatically to the development of the market over the last few years, with the variety of signed up mobile cash accounts increasing in between 2013 and 2023. This development was generally driven by Nigeria, Ghana and Senegal.
Dispersed by APO Team in behalf of PalmPay.
Media Contact:
press@palmpay-inc.com
About PalmPay:
PalmPay is a leading Africa-focused fintech system dedicated to driving financial empowerment in Africa. Via its safe and secure, easy to use, and comprehensive collection of economic solutions, PalmPay brings top-tier items right into the pockets of daily Nigerians. With this, we have the ability to drive economic incorporation.
PalmPay supplies cash transfers, expense settlements, credit score solutions, and cost savings on its application and using its mobile cash representatives. Given that introducing in Nigeria in 2019 under a Mobile Cash Driver certificate, the system has actually expanded to over 30 million application individuals as component of its cashless settlement environment.
For additional information, see our social media sites ( https://apo-opa.co/3vcmfv9) systems or site www.PalmPay.com.
