PalmPay, Nigeria’s leading financial services provider, has launched a new USSD service to increase financial convenience, especially for users without internet access. The development aims to make financial transactions increasingly easier by resolving the issues many Nigerians face due to internet outages or lack of internet connection.
This new service is expected to provide a much-needed alternative to the PalmPay mobile app, which has amassed over 30 million registered users since its launch.
The service offers Nigerians more ways to manage their finances without an internet connection. The company said that with the PalmPay USSD code, customers can now perform various banking transactions by dialling *861# from their mobile phones.
The launch of USSD technology is a significant step in PalmPay’s mission to bridge the financial gap in Nigeria. By providing users with an easy way to conduct financial transactions, PalmPay hopes to expand this to those who do not have a smartphone or access to mobile data, which is still a challenge for millions of people in the country.
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Launched in Nigeria in 2019 with a mobile banking license issued by the Central Bank of Nigeria (CBN), PalmPay has positioned itself as a major player in the Nigerian fintech market. The company operates a “super app” that allows customers to manage their transactions, pay bills and save money all in one place. The USSD service generated by this product will enable users who are unable to use the app due to device limitations or network issues to still access financial services.
A large portion of the Nigerian population is still unable to benefit from traditional financial systems, primarily due to the lack of reliable internet or smartphone access. PalmPay’s USSD service provides an important tool for these people, allowing them to conduct financial transactions with a simple phone call.
The PalmPay USSD platform not only enhances financial convenience but also includes important security measures. Users whose mobile phones are lost or stolen can secure their accounts via the USSD platform. This feature is designed to protect customers from fraud or theft and to allow them to protect their finances until they can manage their money. Given the high rate of mobile phone theft in Nigeria, additional security measures are timely and necessary.
PalmPay has had a strong presence in the Nigerian financial ecosystem since its inception. The company’s platform is not only used by individual customers but also supports connections to over 1.1 million businesses, including mobile money agents and merchants. The network has played a key role in helping individuals and businesses, many of whom were previously unbanked or underbanked, access financial services across the country.
The launch of Palmay USSD services addresses a critical problem in Nigeria’s fintech ecosystem: most digital financial services rely on the online environment. In Nigeria, constant data communication and high data service charges limit the availability of mobile applications that require constant connectivity. As a result, millions of Nigerians are unable to participate in the digital economy.
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PalmPay has reduced these challenges by offering USSD codes as an alternative, providing customers with greater confidence and easier options. This move could help the company increase the number of users, especially those who have trouble accessing the internet.
