A reminder that in large parts of Africa internet connectivity is not always guaranteed comes from PalmPay, a financial platform with over 30 million users on its smartphone app in Nigeria. PalmPay has announced the launch of its USSD code, a service that offers Nigerians an additional way to manage their finances without the need for internet connectivity.
With the PalmPay USSD code, says the company, customers can now perform a wide range of banking transactions by dialling *861# from their mobile phones.
PalmPay has been operating in Nigeria since 2019 under a Mobile Money Operator license issued by the Central Bank of Nigeria (CBN). The fintech says it has pioneered a model that provides financial services such as money transfers, bill payments, credit services and savings via a one-stop-shop financial ‘superapp’.
Customers without access to smartphones are able to make transactions via a nationwide network of over 500,000 mobile money agents. The addition of a USSD access point is designed to further enhance the accessibility and convenience of its platform for consumers in a market where data network outages are common.
In addition, the newly launched USSD platform comes with a security feature which allows customers to remotely freeze their accounts in case their phone is lost or stolen.
Chika Nwosu, Nigeria Managing Director, PalmPay, says: "At PalmPay, we aim to bridge the gap in digital access, and the introduction of our USSD service aligns with that mission."
PalmPay reaches over 30 million registered Nigerian users on its app and connects 1.1 million businesses through its network of mobile money agents and merchants.
