PalmPay and AfriGO have partnered to issue 5 million AfriGO cards in Nigeria, enhancing financial inclusion. This initiative aims to provide tailored payment solutions and secure transactions through the AfriGO card, emphasizing reduced fees and instant settlement for improved efficiency. The collaboration is expected to strengthen Nigeria’s digital economy and empower underserved communities.
PalmPay and AfriGO have forged a strategic partnership aimed at transforming Nigeria’s payment ecosystem by distributing over 5 million AfriGO cards. This initiative is designed to empower underserved communities, foster financial inclusion, and enhance the nation’s digital economy. By leveraging AfriGO’s infrastructure, PalmPay will create tailored payment solutions reflecting local market demands.
The AfriGO card, developed by Afrigopay Financial Services Limited, a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), is designed with EMVCo standards. This ensures secure transactions through tokenization and contactless payment capabilities, further integrated into PalmPay’s robust digital platform for a seamless user experience.
Chika Nwosu, Managing Director of PalmPay Nigeria, expressed excitement regarding the collaboration, emphasizing their commitment to inclusive financial solutions. He noted that the partnership facilitates the delivery of secure and localized payment options that empower Nigerians and bolster the digital economy.
Ebehijie Momoh, Managing Director/CEO of Afrigopay Financial Services Limited, remarked on the partnership’s broader implications. He stated that the collaboration would enhance access to digital payments, particularly in underserved regions, thereby driving financial inclusion and fostering a vibrant digital economy. The AfriGO cards facilitate a range of transactions, including physical and online purchases, ATM withdrawals, and cashless payments through Agent POS terminals.
For merchants, the AfriGO cards will offer reduced transaction fees and instant settlement times, enhancing efficiency and cash flow. Consumers, in turn, will benefit from a secure, cost-effective payment solution that improves their financial engagement. This partnership reinforces PalmPay’s mission to advance digital financial services and establish Nigeria as a leader in payment innovation.
In summary, the strategic partnership between PalmPay and AfriGO signifies a major advancement in Nigeria’s financial inclusion efforts. By introducing over 5 million AfriGO cards, the initiative aims to empower underserved communities and enhance the digital economy. With an emphasis on localized solutions and secure payments, this partnership is set to redefine financial accessibility in Nigeria.
Original Source: www.thisdaylive.com
