African Payment Startup PalmPay Waives Fees; Announces ₦100 Million COVID-19 Payout Fund

PalmPay, an Africa-based payment startup, announced this week it is waiving fees on all money transfers and has launched a new ₦100 million COVID-19 support fund. According to PalmPay, the waiving of fees offer is now available for any amount to any Nigerian bank until May 21st. Users may now send money to their PalmPay wallet straight from the PalmPay banking app.

“We understand how difficult these times are, which is why we have made money transfer transactions across Nigeria absolutely FREE on your PalmPay app.”

In regards to the Fund, PalmPay reported that the money will be used to support relief organizations working to address the outbreak of COVID-19. 

“We promise to be #ByYourSide during these uncertain times hence, every transacting PalmPay customer can qualify for a N100,000 payout from the PalmPay Support Fund should they be diagnosed with COVID-19 to help people get back on their feet. We will also contribute more money to the support fund each time you initiate a transaction and play the Lucky Game on your PalmPay app. You can be a #CommunityHero and help contribute to the growth of the fund by using PalmPay for all of your transactions.”

Founded in 2019, PalmPay describes itself as a next-generation mobile wallet that empowers anyone with a smartphone to open a financial account, send money, and make payments. The PalmPay app is now available on Android and iOS.

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