PalmPay resumes onboarding of new customers

PalmPay has announced that it has resumed onboarding users and merchants on its mobile app.

A statement issued by PalmPay noted that the development highlighted its commitment to transforming Nigeria’s financial sector with secure, efficient solutions, while closely working with the apex regulatory body.

The Managing Director of PalmPay Nigeria, Chika Nwosu, said, “Our commitment to excellence and financial security remains unwavering as we drive financial inclusion. Despite the growing interest in cryptocurrency, PalmPay does not permit cryptocurrency or virtual asset trading on our platform, and this is in line with the Central Bank of Nigeria regulations to protect the financial ecosystem.

“We monitor platform activities diligently and take necessary actions, including account closure and reporting to the relevant authorities, for any cryptocurrency or other related. Transactions.

 “We are committed to maintaining a robust Know Your Customer and customer due diligence systems, which help us understand our users and mitigate risks effectively.”