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.
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