Tech Unite Africa: Palmpay launches debit, premium cards with zero maintenance fee
…As NCDMB assures to reach grassroots in capacity building
By Omolola Dede Adeyanju
PalmPay, the headline sponsor of Tech Unite Africa 2025, has introduced its new debit and premium cards, aiming to enhance financial inclusion for businesses and individuals.
The product launch took place during the Tech Unite Africa Summit in Lagos, where technology experts from across Africa discussed solutions to the evolving digital landscape.
PalmPay’s Managing Director, Mr Chika Nwosu, expressed enthusiasm over the company’s latest milestone, recalling that PalmPay was introduced in Nigeria in 2019 with a mission to improve financial accessibility. He noted that, at the time, digital payments in Nigeria were still in their infancy.
According to Nwosu, PalmPay has built its financial infrastructure from scratch, now achieving a 99.9% transaction success rate. This success has helped the company grow to over 55 million users and a network of 1.1 million agents and partners.
He lauded PalmPay’s impact on financial inclusion in Nigeria, stating that its offerings extend beyond payments to include credit, savings, insurance, and business solutions—all accessible via a single app and agent network.
“With PalmPay, users can enjoy unlimited free bank accounts, large transactions with cashback and zero fees, daily premium savings of up to 50%, instant credit provided by licensed partners, and accessible insurance solutions,” Nwosu explained.
He further announced the official launch of the PalmPay credit card, developed in partnership with Verve, which offers zero maintenance fees, cashback, and reward benefits.
Additionally, Nwosu introduced PalmPay Premium, an exclusive service for the company’s most engaged users. “PalmPay Premium provides priority support, exclusive rewards, and enhanced cashout rates. This is our way of expressing gratitude and supporting our most dedicated users,” he said.
Meanwhile, Mr Abdulmalik Halilu, Director of Monitoring and Evaluation at the Nigerian Content Development and Monitoring Board (NCDMB), represented by General Manager Silas Omomehin Anjimijaye, acknowledged that the board has introduced several initiatives but still faces challenges in reaching grassroots communities. He assured that efforts would be made to extend services to underserved areas.
Silas highlighted research conducted across Nigeria, revealing existing obstacles to inclusivity. “This time, we will ensure that no one is left behind,” he stated. He also addressed concerns regarding blockchain regulations, noting that the Central Bank of Nigeria remains cautious about cryptocurrencies. However, he stressed the need for regulatory frameworks that foster blockchain development.
In a keynote speech on AI infrastructure, FSAB Consulting CEO Fadwa Saad AlBawardi outlined key considerations for AI adoption, including data quality, investment in scalable computing infrastructure, regulatory compliance, and cybersecurity. She also examined AI’s predictive capabilities and the challenges of implementation, such as connectivity gaps, funding shortages, and ethical concerns.
Similarly, Francis Ogbuka, Vice President of Sales and Business Development at Zone, underscored blockchain’s role in financial inclusion. He revealed that Zone is Africa’s first regulated blockchain payment company, holding a switching and processing license from the Central Bank of Nigeria.
He noted the rising adoption of stablecoins in Africa, particularly in Nigeria, which ranks second globally in cryptocurrency adoption. “Of the $125 billion processed on-chain, Nigeria accounted for $59 billion—surpassing Kenya, South Africa, and other key markets,” he stated.
Ogbuka argued that this validates stablecoins as a practical solution for payments, remittances, and value preservation. “Platforms like this summit foster discussions that help investors and stakeholders recognise the vast opportunities within this space,” he added.
A panel session featuring key tech industry figures across Africa explored the role of AI in project management. The discussion concluded that AI enhances efficiency and accuracy in project execution, though ethical considerations must be upheld to maintain standards.
