Is PalmPay a Bank or Wallet | All You Need To Know

PalmPay develops a secure and digital payment experience throughout Africa in an effort to promote the financial enhancement and inclusion of consumer experiences. TheĀ  Do you Want to know if PalmPay is a Bank or Wallet then this blog is in the right play for answers.

Is PalmPay a Bank or Wallet

Is PalmPay a Bank or Wallet

PalmPay is an Intuitive Digital Wallet with an account opening, money transfer, and payment of bills in one, and you can be able to earn as you spend. It is a mobile money operator licensed by the Central Bank of Nigeria to carry out financial services in Nigeria.

PalmPay is free and fast to send money to any PalmPay user or other Nigeria Bank account user. PalmPay is a CBN-licensed mobile payment and e-wallet that can offer financial services to users and customers through its mobile application.

The company improves users’ and customers’ digital payment experiences by offering financial account creation, money transfer, and instant access to credit services. And you can be assured of the reliability of our platform.

About PalmPay

PalmPay is a Pan-Africa digital payment and digital wallet platform. Well, PalmPay specializes in digital finance. They provide the payment experience for customers and businesses by providing financial services. They built both online and offline payment ecosystem that offers and bring digital products to marketplaces.

And they render tools that could help them make and receive payments and then manage business processes. It enables any business owners or merchants to accept one or more cryptocurrencies from their customers at zero cost. The POS software is free to use for merchants and you can download it for free on any application store.

Merchants need to start accepting cryptocurrencies, the app is free on iOS or Android Smartphones, terminal devices, or tablets. PalmPay is among the best so far in free financial transactions and with great discounts.

With PalmPay you can be able to save on fees and then earn as spend through cash backs and discounts. You can get the application now to start making your money go further.

PalmPay Review

PalmPay loyalty points, advance exports, and eReciepts features can also enable s simplified accounting and even tax reporting. The PalmPay application can be able to process transactions and then send a receipt to customers in less than 3 seconds.

To protect against cryptocurrency violations, Palmpay instantly converts the currency received by any merchant into collateralized stablecoins that are been pegged to the merchant’s local currencies. It is safe to use PalmPay, and your deposits are within a reputable and secure company.

It is owned and managed by Transnet. Transnet is a partnership between NetEase and Transsion Holdings. PalmPay is licensed by CBN to operate in Nigeria. They are also registered with the Central Bank of Nigeria (CBN) and then have obtained a license to operate as a money remittance company.

Benefits of PalmPay

PalmPay has many features that offer financial services to customers. It is a good alternative to traditional bank accounts. And its services charged are almost zero. Instead of banks charging you for bank transfers like most banks, they also reward you with PalmPoints.

Moreover, It has many features through which it offers payment services to its customers. It is an alternative for making easy transactions instead of using traditional bank accounts. Users can easily enjoy virtual top-up services with PalmPay and they could send cash to friends and families within minutes.

However, With these perks on PalmPay, customers would enjoy using PalmPay as their only bank, and the benefits could also help customers with what they need on PalmPay.

  • Low service charges during transactions
  • The reward points that you received through some transactions can be redeemed at any time you wish to.
  • Customers could earn bonuses and rewards when they make transactions
  • Users can easily earn for each invite.
  • Easy payment of bills and fast VTU services
  • Guaranteed security and safekeeping of user information.
  • Users could earn while playing games.

PalmPay Customer Services

If you have questions and worries about PalmPay then customer services are there to help. You can be able to contact them using or you can contact them on their social media platforms through these links

Twitter –

Facebook –

Linkedin Company –

We hope this article has helped get in touch with PalmPay Customer Care Services.


I’m sure that your doubts if PalmPay is a wallet or a Bank are available in this content. It is an e-wallet and an online payment platform that offers financial services to its users and customers through a mobile application.


What Type of Bank is PalmPay?

PalmPay is a company, that has a dual license under the Central Bank of Nigeria (CBN) Mobile money payment regulatory authorization to provide mobile money services including mobile payment services to both banked and unbanked, and to drive finances in Nigeria.

Is PalmPay a Banking App?

PalmPay is a Mobile Money operator that has a license from the Central Bank of Nigeria. Our certified fraud and security systems always keep your money and data protected. Fully licensed as a mobile money operator by the CBN. PCI-DSS certified to ensure the security of Data.

Can you Send Money from PalmPay to your Bank Account?

Now there is no better time to go cashless as you can send any amount for free to any bank using PalmPay.

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