PalmPay introduces extra verification for night transfers

PalmPay, a Nigerian fintech company, has launched a new security feature called NightGuard, which adds an extra verification step for transfers made during selected hours, according to a statement released on Saturday. This feature, accessible through PalmPay's enhanced Security Centre, permits users to set a protection window between 11 p.m. and 7 a.m. During this designated period, transfer attempts will necessitate additional verification before they can be completed.

The company introduced NightGuard as digital payments become increasingly common in Nigeria, amid growing concerns over digital payment scams, identity theft, and unauthorized account access. Femi Hanson, PalmPay's Head of Nigeria Marketing, explained that while fraud can occur at any time, the feature addresses the heightened risks that arise when a compromised or lost phone creates added vulnerabilities at night.

The company's objective with NightGuard is to grant users greater control over the security of their accounts and transactions, particularly in situations where unusual activity might go unnoticed. NightGuard is part of the security suite provided through PalmPay's Security Center, which also emphasizes the importance of customer education in bolstering digital-payment security.