PalmPay has been recognised as the Digital Payments Platform of the Year at the 2026 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, highlighting its role in advancing digital payments and promoting financial inclusion in Nigeria.
The award ceremony took place on October 9, 2026, at the Civic Centre in Lagos. Frank Aigbogun, publisher and co-founder of BusinessDay, officially presented the award to the fintech company.
The recognition comes as digital financial services continue to play a growing role in how Nigerians make payments, manage money and conduct everyday business.
From Its 2019 Launch to More Than 35 Million Users
Since entering the Nigerian market in 2019, PalmPay has developed a digital financial services ecosystem designed to make financial transactions more accessible to a broad range of customers.
Through its platform, users can make payments, settle bills and access other financial services. The company has grown to serve more than 35 million users in Nigeria, supported by an extensive network of merchants and agents that facilitates digital transactions across the country.
Its expanding reach has positioned the platform within Nigeria’s evolving digital payments landscape, where accessibility and convenience remain important to bringing more people into the formal financial system.
PalmPay Says Award Reflects Commitment to Customers
Chika Nwosu, managing director of PalmPay Nigeria, said the award reflected the company’s commitment to developing financial services that respond to the everyday needs of Nigerians.
“We are honoured to receive the Digital Payments Platform of the Year award at the BAFI Awards. Digital payments have become an important part of how Nigerians manage their finances, run businesses and carry out everyday transactions. This award reflects our continued commitment to making financial services more accessible, reliable and secure for the millions of customers who use PalmPay every day.”
Nwosu added that the company’s responsibilities extend beyond helping customers complete transactions, particularly as the financial services sector works to deepen inclusion.
He said PalmPay aims to equip users with the tools, information and support needed to use digital financial services confidently and securely.
Consumer Protection Remains a Key Priority
PalmPay has also been promoting safer digital financial practices through its ongoing PalmPay Dey For You campaign. The initiative educates customers about the platform’s security features and encourages them to adopt safer habits when carrying out financial transactions online.
The company’s emphasis on customer protection reflects the growing importance of trust as more Nigerians embrace digital payments. While greater access and convenience can encourage adoption, customers also need confidence that their transactions and financial information are protected.
By combining wider access to digital services with security awareness and customer support, PalmPay aims to strengthen users’ confidence in participating in the digital economy.
Company Plans Further Investment in Technology and Security
PalmPay said it would continue investing in technology, security and customer experience as it works to expand access to reliable financial services in Nigeria and its other markets.
The BAFI Awards recognition highlights the company’s progress in Nigeria’s digital payments sector, while its future growth will depend in part on maintaining customer trust and delivering services that meet users’ changing needs.
As digital financial services become increasingly integrated into everyday life, the balance between accessibility, reliability and security is likely to remain central to the industry’s efforts to advance financial inclusion.
