PalmPay

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What PalmPay is

PalmPay is a digital banking and financial services platform for individuals and businesses, founded in 2019 and headquartered in Lagos, Nigeria. Its app brings together money transfers, bill payments, shopping, savings, credit and rewards. Users can make unlimited free transfers to PalmPay users and other Nigerian banks, with no daily limits. The Nigeria page advertises savings interest of up to 20%, paid daily, and withdrawals at any time. The app also covers airtime, data, water and TV bills, with cashback on bills and shopping. Customers can pay participating merchants through Pay With Transfer; PalmPay says it is accepted at more than 600,000 shops.

For businesses, PalmPay Business provides payment acceptance, transaction monitoring, reports, transaction records and reconciliation. Its SDKs and APIs support collections, bulk bill payments and transfers, wallet payments, payouts and embedded finance. Merchant documentation lists card, bank, wallet and USSD collection, along with virtual accounts. Business pricing is custom and may include cost-plus pricing and volume discounts. PalmPay describes encryption, fraud monitoring and PCI compliance among its security measures. It says it is licensed and regulated by Nigeria’s Central Bank, deposits are insured by the NDIC, and customer care and its fraud desk are available 24/7. Services are available through Android, iOS, web and API; users must be at least 18 to create an account or access services.

Who it suits

PalmPay suits individuals seeking transfers, bill payments, savings, shopping, credit and rewards in one financial app. Businesses can consider it for payment acceptance and management tools, particularly if they need APIs for collections, payouts or embedded finance.

What it does well

Unlimited free transfers to PalmPay users and Nigerian banks, with no daily limits.
Savings interest advertised at up to 20%, paid daily, with anytime withdrawals.
Bills include airtime, data, water and TV, with cashback on bills and shopping.
Merchant payments are accepted at more than 600,000 shops, according to PalmPay.
Business APIs cover card, bank, wallet and USSD collections, payouts and virtual accounts.

What to know first

Users must be at least 18 to access services or create an account.
Business pricing is custom rather than a published fixed price.
Pay With Transfer applies at participating merchants.

Getting started

Visit https://www.palmpay.com/.
Choose Android, iOS or web for the consumer app, or use the API for business integrations.
Create an account if you are at least 18.
For business pricing, use PalmPay’s business inquiry page to discuss custom pricing.

Verdict

Choose PalmPay if you want an app for transfers and everyday payments, or a business platform with payment tools and APIs. Businesses should look elsewhere if they need a fixed published price, since pricing is custom.

Questions

Is PalmPay free?

PalmPay lists a free plan. It says transfers to PalmPay users and other Nigerian banks are unlimited and free, with no daily limits.

Which platforms does PalmPay support?

The listed platforms are Android, iOS, web and API.

What can individuals do with PalmPay?

The app supports transfers, bill payments, shopping, savings, credit and rewards. Bills include airtime, data, water and TV.

What payment methods do the business APIs support?

Merchant documentation lists card, bank, wallet and USSD payment collection, as well as payouts and virtual accounts.

What does PalmPay Business cost?

Business pricing is custom; PalmPay offers cost-plus pricing and volume discounts through its inquiry page.

Who can create a PalmPay account?

PalmPay’s terms say users must be at least 18 to access services or create an account.

Facts from PalmPay's own pages

Account eligibility: PalmPay's terms say users must be at least 18 years old to access its services or create an account. · palmpay.com, 8 Oct 2026
API payment methods: PalmPay’s merchant documentation lists card, bank, wallet, and USSD payment collection, plus payouts and virtual accounts. · docs-daily.palmpay.com, 7 Oct 2026
Business integrations: PalmPay offers business integrations through SDKs and APIs for payment acceptance, bulk bill payments, bulk transactions and collections. · palmpay.com, 8 Oct 2026
Business platform: PalmPay Business provides tools for accepting payments, managing transactions, viewing reports, and reconciling records. · palmpay.com, 7 Oct 2026
Business pricing: PalmPay’s business inquiry page offers custom pricing, including cost-plus pricing and volume discounts. · palmpay.com, 7 Oct 2026
Business tools: PalmPay Business provides a dashboard for monitoring payment processing and POS devices, transaction records, reconciliation and reports. · palmpay.com, 8 Oct 2026
Business use: PalmPay says its APIs support collections, payouts, and embedded finance using bank, wallet, card, and mobile money rails. · palmpay.com, 7 Oct 2026
Credit and protection: The Nigeria page advertises credit and protection products for health, phones and more. · palmpay.com, 8 Oct 2026
Everyday payments: The app supports bill payments including airtime, data, water and TV, and offers cashback on bills and shopping. · palmpay.com, 8 Oct 2026
Founded: 2019 · palmpay.com, 28 Sept 2026
Headquarters: Lagos, Nigeria · palmpay.com, 28 Sept 2026
Licensing and deposits: PalmPay Limited says it is licensed and regulated by Nigeria's Central Bank, and that deposits are insured by the Nigerian Deposit Insurance Corporation. · palmpay.com, 8 Oct 2026
Markets: PalmPay says it has a presence in Nigeria, Ghana, Tanzania and the United Kingdom. · palmpay.com, 8 Oct 2026
Merchant payments: Businesses can accept card and bank transfer payments in person through PalmPay POS and use Pay With Transfer for customer payments. · palmpay.com, 8 Oct 2026
Payment coverage: PalmPay's business payment page says it can accept payments from any Nigerian bank and lists card, bank, wallet and USSD payment methods. · palmpay.com, 8 Oct 2026
Payment integrations: PalmPay offers SDKs and APIs for payment collection, bulk bill payments, bulk transfers, and wallet payments. · palmpay.com, 7 Oct 2026
Personal finance: The PalmPay app offers money transfers, bill payments, shopping, savings, credit, and rewards. · palmpay.com, 7 Oct 2026
Savings: The Nigeria page advertises savings interest of up to 20%, paid daily, with withdrawals available anytime. · palmpay.com, 8 Oct 2026
Security: PalmPay says it uses advanced encryption, fraud detection and multiple authentication layers to safeguard data and funds. · palmpay.com, 8 Oct 2026
Support: PalmPay advertises 24/7 customer care and fraud support with in-app reporting tools. · palmpay.com, 8 Oct 2026
Transfers: PalmPay says users can make unlimited free transfers to PalmPay users and banks, with no daily limits or hidden fees. · palmpay.com, 8 Oct 2026
What it does: PalmPay describes itself as a digital banking and financial services platform for individuals and businesses. · palmpay.com, 8 Oct 2026

Where PalmPay stands on Freedom251

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