Overview
PalmPay Limited is a Nigerian fintech company that offers various financial services to its customers. The company provides mobile payments, credit, savings, and micro-insurance services through its platform.
PalmPay operates under a Mobile Money Operator license issued by the Central Bank of Nigeria, indicating its regulatory compliance in the market.
Activities and products
The main products offered by PalmPay include the PalmPay App and Recharge2Cash. The PalmPay App is used for mobile payments, while Recharge2Cash allows users to recharge their mobile phones using cash. These services enable customers to manage their finances digitally and access various financial services through a single platform.
Stage and funding
PalmPay was founded in 2019 and has since grown significantly, with over 35 million app users as of 2025. The company processes up to 15 million transactions daily, indicating its large-scale operations. PalmPay has received backing from prominent Chinese investors, including Transsion and NetEase, through the Transsnet joint venture. This funding support has contributed to the company's growth and expansion in the market.
Company details
- Legal name
- PalmPay Limited
- Website
- www.palmpay.com
- Headquarters
- Lagos, Nigeria
- Founded
- 2019
- Sector
- Fintech
- Funding stage
- Established