AfriGO, Nigeria’s national domestic card scheme, has partnered with PalmPay to roll out over 5 million AfriGO payment cards nationwide. This strategic alliance aims to boost financial inclusion, enhance digital transactions, and provide Nigerians with secure and cost-effective payment solutions.
Transforming Nigeria’s Digital Payment Ecosystem
The partnership between AfriGO and PalmPay is set to revolutionize Nigeria’s financial sector by introducing more accessible and affordable digital payment methods. Unlike foreign-issued cards, AfriGO cards are designed to operate entirely in naira, reducing foreign exchange risks and transaction costs. This initiative supports Nigeria’s goal of strengthening its cashless policy and expanding financial accessibility to underserved communities.
According to Chika Nwosu, Managing Director of PalmPay Nigeria, this collaboration aligns with the company’s mission to offer innovative and inclusive financial services. “PalmPay is committed to providing secure and localized payment options that empower Nigerians and accelerate digital financial inclusion. Our partnership with AfriGO marks a significant milestone in achieving this goal,” he stated.
Benefits for Businesses and Consumers
The introduction of AfriGO payment cards brings multiple advantages for merchants and consumers:
- Secure Transactions – Built on EMVCo standards, AfriGO cards feature contactless payment and tokenization for enhanced security.
- Instant Settlement – Merchants and agents benefit from real-time payment processing, improving cash flow and reducing financial risks.
- Broad Usability – Users can perform a variety of transactions, including ATM withdrawals, online and in-store purchases, money transfers, and POS payments.
Ebehijie Momoh, CEO of Afrigopay Financial Services Limited (AFSL), emphasized that this initiative will significantly enhance Nigeria’s digital economy by expanding financial access in remote and underserved regions. “Our partnership with PalmPay will provide seamless digital payment experiences while promoting financial empowerment across Nigeria,” she said.
The Future of Contactless Payments in Nigeria
Globally, tap-to-pay technology is becoming a standard for faster and more efficient transactions. In Nigeria, where cash-based and PIN-dependent transactions still dominate, fintech companies and the federal government recognize the need to drive a more seamless digital payment experience.
Beyond its collaboration with PalmPay, AfriGO has also partnered with Moniepoint to issue an additional 5 million contactless payment cards across the country. Moreover, Nigeria’s federal government, in partnership with Mastercard, is working to enhance financial inclusion by providing one million farmers across Africa with access to digital financial services.
Conclusion
The AfriGO and PalmPay partnership marks a significant step in Nigeria’s journey toward a fully digital economy. By making secure, accessible, and affordable payment solutions available to millions of Nigerians, this initiative fosters greater financial independence and strengthens the nation’s cashless policy.
: Learn more about digital payment advancements
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