PalmPay waives transfer fees in Nigeria for COVID-19 affected customers

Thursday 23 April 2020 09:55 CET | News

Africa-based payment startup PalmPay has announced that it will waive transfer fees in Nigeria and offer direct payouts to customers who have contracted COVID-19, TechCrunch reports.

The venture that launched in 2019 backed by China’s Transsion has created the PalmPay Support Fund. The initiative will start with USD 300K (100 million Naira) and offer individual payments of USD 250 (100,000 Naira) to PalmPay  customers who have contracted the coronavirus.

The startup will expand the fund’s value by providing a matching gift per customer transaction for at least on month. PalmPay will also extend the fund to offer grants to organizations working on coronavirus mitigation and assistance efforts in Nigeria.

The company has created a page on its app for applications and funds dispersal. PalmPay is working with Nigeria’s Center for Disease Control on a verification process to confirm those who apply have tested positive for COVID-19.

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Keywords: PalmPay, Nigeria, COVID-19
Categories: Payments & Commerce
Countries: Nigeria
This article is part of category

Payments & Commerce