Who is The Owner of PalmPay? All You Need to Know

PalmPay is an e-wallet and online payment platform that offers financial services to users via its mobile app.

One amazing feature about PalmPay is that it provides pathways for users to earn money while also using the mobile app. Money can be earned on PalmPay through rewards, bonuses, and cashback.

On PalmPay, you can send money to other users, receive funds into your account, withdraw to your bank account, settle bills and recharge airtime. The reward points you receive after some transactions can be redeemed any time you like.

Who owns PalmPay?

PalmPay is owned by the Chinese company Transsion Holdings as well as the Taiwanese company NetEase.

How does PalmPay work?

PalmPay has many features through which it renders payment services to users. It is an alternative for making simple transactions instead of using your traditional bank account. Its service charges are minimal when compared to most traditional banks.

You can also enjoy Virtual Top Up services with PalmPay. You can safely send cash to friends and family within minutes. You can recharge your phone and also various subscriptions.

Benefits of using PalmPay

The PalmPay mobile app comes with many benefits:

• Low service charges during transactions.
• Easy payment of bills and fast VTU services.
• Guaranteed security and safekeeping of user information.
• You can earn bonuses and rewards when you make transactions.
• You earn money for each person you invite. You will receive the reward after the person creates an account with PalmPay. 

Is it safe to use PalmPay?

It’s very safe to use PalmPay. Your deposits are with a secure and reputable company. PalmPay is owned and managed by Transsnet. Transsnet is a partnership venture between NetEase and Transsion Holdings.

If we can recollect, Transsion Holdings is the manufacturer of the Itel, Tecno Mobile and Infinix brands. A partnership has been made between the two companies. This partnership involves the PalmPay app being pre-installed on all Itel, Tecno and Infinix phones.

Apart from being owned by a reputable company, PalmPay also has a physical office address in Nigeria and Ghana.

PalmPay has its Nigerian head office at 20, Opebi Road, Ikeja in Lagos, Nigeria.

The Ghanian head office is situated at 54, Senchi Street, Airport Residential Area in Accra, Ghana.

Is PalmPay licensed by CBN?

Yes. PalmPay is licensed by CBN to operate in Nigeria. We are also registered with the Central bank of Nigeria (CBN) and have obtained a license to operate as a money remittance company.

PalmPay partners with licensed, regulated and insured payment service providers around the world to allow users to send and receive money in their local currency.

How to open a PalmPay account

1. Download the app

Download the PalmPay mobile app on your device. It’s available on the Google Play Store as well as on the iOS Store.

2. Launch app and sign up

Launch the app and click on the Sign-up button. Select your country code and input your phone number. Here, your phone number will be used to receive a verification code.

3. Verify your phone number

Submit and wait for a verification code. Input the verification code sent to your phone number and wait for the next page to load.

4. Set up your pin

You will be required to set up a 4-digits pin. You will enter your preferred code and also confirm.

How to fund or deposit money into your PalmPay account

Funding your PalmPay account is very fast and easy. You can fund your PalmPay account through your debit card. Follow the steps below:

• Click on the “fund” button on your profile dashboard.
• Input the amount of money you want to deposit.
• Enter the description of the transaction (optional) and move to the next page.
• Select your payment method. You can select one of your previously linked debit cards or add a new one.
• Choose your bank from the list of other banks and input all the necessary bank details.
• Enter your security code to proceed with the transaction.
• A new page will load. It will be the secure payment gateway of your bank. An OTP will be sent to your email address or phone number. Enter the OTP and click on the “complete” button.
• The deposit is successful and you will be redirected to your dashboard.