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# PalmPay Distributes Over ₦4 Billion in Interest to Nigerian Customers Across 2024
- URL: https://www.theglobalbanker.com/palmpay-distributes-4-billion-naira-interest-nigerian-customers-2024/
- Published: 2025-01-20T11:54:00.000Z
- Updated: 2026-10-02T14:37:45.000Z
- Description: Nigerian fintech PalmPay paid out more than ₦4bn in interest to its 35 million-plus registered users during 2024.
- Author: TGB Editorial Team
- Tags: Fintech, Africa, #archive

PalmPay, a Nigerian mobile financial services platform, paid out over ₦4 billion in interest to its Nigerian customers during 2024 through its savings product, the company confirmed in January 2025\. The payout figure was disclosed at a company media briefing reported by Nigerian newspapers. PalmPay had more than 35 million registered users in Nigeria by the end of 2024.

#### SAVINGS PRODUCT

PalmPay's savings product offers up to 20% flexible annual interest. 

PalmPay launched in Nigeria in 2019 backed by Transsion Holdings, the Chinese mobile handset manufacturer.

PalmPay operates under a Central Bank of Nigeria mobile money operator licence.