PalmPay leverages agents, USSD to serve unbanked

PalmPay, one of Nigeria’s leading digital banking platforms, has renewed its commitment to deepening financial inclusion across the country, targeting unbanked and underserved populations through its expansive agent network and USSD-based banking services.

Speaking at the just-concluded CeBIH Annual Conference 2025, themed “Reimagining Financial Inclusion through Cultural Shifts in Consumer Credit,” PalmPay’s Managing Director, Chika Nwosu, called on industry stakeholders to embrace community-aligned solutions and customer-centric innovations to expand access to financial services in Nigeria.

Nwosu made the call during a panel session titled “Social Inclusion, A Veritable Tool for Financial Inclusion,”where he joined other industry leaders to discuss strategies for increasing participation among women, rural dwellers, low-income earners, and other financially excluded groups.

He highlighted PalmPay’s commitment to inclusive finance through its network of more than 500,000 mobile money agents, which provides seamless cash-in and cash-out services for unbanked users nationwide. Nwosu also emphasised the importance of PalmPay’s USSD platform, 861#, which enables users with basic mobile phones or limited internet access to carry out essential financial transactions.

“Financial inclusion goes beyond access; it must be equitable and tailored to real-life needs,” Nwosu said.

He explained that PalmPay leverages behavioural insights to design services that address everyday financial challenges, including affordable health insurance, reliable bill payments, merchant solutions, and automated savings features that encourage financial discipline among users.

The session also examined the role of grassroots agents and community touchpoints in driving last-mile adoption of digital financial services. According to Nwosu, PalmPay’s widespread community presence has continued to build trust and encourage excluded populations to adopt digital financial tools.

The panel session was moderated by Ronke Kuye of the CeBIH Advisory Council and featured representatives from E-Doc Online, SmartCash Payment Service Bank, SANEF, and EFINA.

PalmPay reaffirmed its commitment to delivering accessible, secure, and inclusive financial services to Nigerians. The company said it remains focused on driving financial inclusion and economic empowerment in underserved emerging markets.

PalmPay offers a broad range of products, including mobile payments, savings, and micro-insurance services delivered through its mobile app and extensive agent network.

Since launching operations in Nigeria in 2019 under a mobile money operator licence, PalmPay has grown to more than 35 million app users. The platform currently operates across Nigeria, Ghana, Tanzania, and Bangladesh.