Official Newsdiaryonline: PalmPay Aims to Close Financial Literacy Gap in Nigeria


By Esenvosa Izah

A Fintech Company, PalmPay, says it is helping to bridge the financial literacy gap in Nigeria.

PalmPay’s Global Chief Marketing Officer, Ms Sofia Zab, in a statement on Saturday, said one in five Nigerians now used the platform through its smartphone apps, merchants and agents for money transfers, bill payments and savings.

“Financial literacy is very important in the context of Nigeria.

“While there is a population that is extremely tech savvy, a large proportion of adults remain financially excluded or underserved, and so we need to bridge that gap, ” she said.

Zab said that one of the significant strides of the company in driving a financially literate Nigeria was through its extensive network of mobile money agents spread across all states of the country.

According to her, the agents are used as resource personnel to educate marginalised communities and empower them through access to financial services.

“Through its extensive network of mobile money agents spread across all states of the country, the Mobile Money Operator is leading the charge in sensitising the population in underbanked areas to financial services.

“PalmPay trains its agents, who then expose people to financial products, serving as an onramp to the financial system by enabling even those without smartphones to transact through its 500,000-strong network.

“More than just facilitating transactions, PalmPay’s agents take the time to educate individuals with smartphones on how to make use of their devices and navigate PalmPay’s app to access financial services.

“Its customer care team also plays a pivotal role in bridging the digital divide by offering personalised assistance in both English and local languages.

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“PalmPay’s team is equipped to speak to enquirers in pidgin as well as Nigeria’s various indigenous languages, ensuring that even those new to digital financial services have the knowledge to make use of cashless payments confidently.

“Through these efforts, PalmPay is democratising financial access and ensuring that no one is left behind in the digital revolution, ” she said.

The officer said also, that PalmPay was actively exploring partnerships to further promote financial literacy.

According to her, PalmPay boasts a wide footprint, comprising 36 offices across the country, and 1.1 million businesses.

“This expansive reach positions PalmPay as an ideal collaborator for governmental and non-governmental institutions, aiming to drive financial literacy initiatives.

“By joining forces with like-minded partners, PalmPay aims to leverage its platform and resources to amplify the impact of financial education,” Zab said. (NAN)



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