PalmPay Says It Handles More Daily Transactions Than Any Nigerian Bank: Do You Trust Fintech With Your Main Money?

Oga, I see something wey shock me small. PalmPay says it now processes more daily transactions than any traditional bank in Nigeria, with about 15 million transactions daily. The company says it has more than 35 million registered users and over one million agents and merchants. It also recently won Digital Payments Platform of the Year at the BusinessDay BAFI Awards. NIBSS data shows that mobile money operators, including PalmPay and OPay, processed ₦71.5 trillion in 2024, up 53% from 2023. Ten years ago, e no easy to believe say ordinary app go dey compete with GTBank, Access Bank and FirstBank. Now, plenty POS outlets for street dey run through fintech platforms. But plenty transactions mean trust? Where you dey keep your main money: bank or fintech? When transfer fail, who dey reverse am faster? And you fit keep ₦5 million for fintech wallet? Make una share both good and bad experiences.

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