Earlier this year, the Nigeria Economic Summit Group noted a painful reality: limited financing is the single biggest barrier to business growth for Nigerian business owners. For over 40 million small and medium enterprises (SMEs), this lack of access to capital means dreams are put on hold. PalmPay was built to change that narrative.
As a 28-year-old master’s student and teacher, Emmanuel, and others in Yola, Northeastern Nigeria, relied on expensive intermediaries to make transfers and pay bills. In 2019, while searching online for ways to start a business to fund his education, he came across PalmPay. And through the app, started reselling airtime, data, and TV subscriptions to those without smartphones. He said, “I am living better than before I began using PalmPay. It led to my financial freedom.”
For the average Nigerian entrepreneur, business is more than just transactions; it is a labour of love, sacrifice, and resilience. PalmPay is redefining how business is done and empowering many merchants who keep the country’s economy moving. From bustling markets to quiet storefronts, PalmPay has become the silent partner to SMEs. The company currently processes 15 million transactions daily, but these numbers only tell half the story.
The network with a 99.5% success rate
Business owners who have experienced network delays know the frustration of a disappointed customer standing at the counter while a transaction hangs. PalmPay has virtually eliminated this anxiety with a guaranteed 99.5% transaction success rate. One PalmPay customer, Francisca, who runs a fabric store in Lagos, shares that, before PalmPay, her customers would make transfers, and she would have to wait for hours to confirm. Now with PalmPay and the added advantage of a POS, she can receive payments more quickly.
Here are other ways, business owners like Francisca and you can power their ambition or hustle with PalmPay:
- Assurance against the fear of financial loss
- Secure business account: With PalmPay, you get a unique, dedicated PalmPay account number. It’s much safer and more professional than using your personal phone number. You can finally set aside the worry about security and focus on your customers, knowing your funds are protected.
- Staff access without risk: Your employees can instantly confirm customer payments, but they cannot access or withdraw your funds. You gain the freedom to step away from the counter and the confidence to hire, knowing your staff can handle sales without touching your hard-earned money.
- Branch control: Easily manage multiple business locations. You can spot fraud, track low-performing branches, and get real-time statements without the stress of chasing down managers. You feel fully in charge, even when you’re physically absent, turning management stress into streamlined oversight.
- To streamline your daily hustle
- Unlimited free transfers: Send money to suppliers or pay staff from your account at absolutely no cost, and you keep more of the Naira you earn.
- Business invoicing: Easily create polished, professional invoices directly through the My Business Hub on the PalmPay app. You present a professional, established image to corporate clients, boosting your credibility and opening doors to bigger deals.
- To grow and scale your business,
- Clear profit tracking & number of daily transactions: See the exact number of people who paid every day. You can gain precise insight into your growth trajectory and finally make big decisions based on facts, not guesswork.
- Savings opportunities: Utilise tools like Cash Box, Smart Earn, Spend & Save, Target Savings, and Fixed Savings to easily set money aside for big goals like rent or expansion. These tools will transform your plans of expansion into a tangible, achievable financial goal that fuels your ambition.
- Always-on promotions: Enjoy exclusive merchant benefits, discounts, and perks as a thank you for your loyalty. With PalmPay, your hard work is seen and rewarded.
PalmPay Business is available for mobile devices; you can download the app on the App Store or Play Store. To get started with PalmPay Business, head over to palmpay.com
You can reach customer support via email possupport@palmpay.com/ or call: 01 889 0982.
