About
PalmPay is a Nigerian app-based wallet that received a Central Bank of Nigeria mobile money operator licence in July 2019 and launched publicly that November on a $40 million round led by phone maker Transsion, whose Tecno, Infinix and itel handsets shipped with the app pre-installed. Users hold a naira balance, cashed in and out through a large agent network, and use it for transfers, bill payments, airtime and merchant payments. It is run by a fintech rather than a mobile network operator. PalmPay reported over one million agents and 15 million daily transactions in Q1 2025, and more than 35 million users in April 2026.
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