PalmPay Highlights Night-Time Fraud Risk, Need for Account Protection
The growing risk of financial fraud at night highlights the need for stronger account protection measures, Head of Marketing, PalmPay Nigeria, Femi Hanson, has said. Hanson spoke as PalmPay continues
PalmPay, the Nigerian mobile payments provider, has cautioned about the heightened risk of financial fraud during nighttime hours. Femi Hanson, PalmPay's Head of Marketing, highlighted this concern as the company continues its "PalmPay Dey For You" campaign aimed at promoting financial safety and educating users on security tools.
Hanson noted that many fraud incidents occur at night, especially after a phone is lost or when scammers believe a customer might be less vigilant. To address this, PalmPay introduced NightGuard, a transaction protection feature in its Security Centre. This tool enables users to set a protection period from 11:00 p.m. to 7:00 a.m., during which transfer attempts require additional verification to ensure they are initiated by the account holder.
The NightGuard feature is designed to provide an extra layer of security during a time when users are typically less alert. Hanson emphasized that the company is committed to protecting users during these vulnerable periods and will continue to educate them on best practices for banking security. This initiative aligns with PalmPay's broader strategy of combining technological solutions with customer education to enhance transaction security.
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