PalmPay steps up security drive amid fraud concerns

PalmPay, a Nigerian fintech firm licensed by the Central Bank of Nigeria, is intensifying its security initiatives to bolster customer trust in digital banking, amid growing concerns over the safety and reliability of such services. The company, whose customer deposits are insured by the Nigeria Deposit Insurance Corporation, has launched its 'PalmPay Dey For You' campaign, aiming to enhance customer awareness of security tools and reinforce its commitment to protecting users and their funds.

PalmPay's Managing Director, Chika Nwosu, emphasized that trust is paramount in banking relationships, requiring customers to be assured that their financial institutions are regulated, secure, dependable, and accessible when needed. The campaign, which includes PalmPay's Security Centre, features such as Location Guard, NightGuard, and other in-app tools that empower users to safeguard their accounts, aligns with the company's philosophy of security by design.