The USSD platform offers a security feature enabling clients to cease their accounts if their phone is lost or stolen. Additionally, PalmPay users without mobile phones can access the USSD code *861# to conduct transactions via a nationwide network of more than 500,000 Mobile Money Agents.
The financial platform has an operator licence from the Central Bank of Nigeria and it boasts over 30 million registered users on its app and connects 1.1 million businesses through a network of mobile agents and merchants. According to the platform, the introduction of a USSD code aims to upgrade accessibility and convenience for consumers in a market where data network interruptions are common.
This new feature allows users to perform transactions and manage their accounts without relying on internet connectivity, thereby bridging the digital divide and fostering greater financial inclusion. With this development, even those in remote areas with limited access to data services can access financial services. The platform's commitment to innovation ensures that users can continue to benefit from financial operations regardless of their location or technological limitations.
Furthermore, the platform has also upgraded its security protocols to safeguard user data and transactions, instilling confidence among its users. By leveraging advanced encryption technologies and multi-factor authentication, it aims to provide a secure and user-friendly experience.
As the financial landscape evolves, the platform is expanding its services to meet the changing needs of its diverse user base. It is not just about providing financial services; it is about helping individuals and businesses to thrive in a digital economy.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now