{"id":16319,"date":"2024-04-24T11:31:12","date_gmt":"2024-04-24T11:31:12","guid":{"rendered":"https:\/\/techandbiz.com.ng\/tab-backup\/?p=16319"},"modified":"2024-04-24T11:33:00","modified_gmt":"2024-04-24T11:33:00","slug":"palmpay-is-recognised-by-the-gsma-as-a-key-contributor-to-the-growth-of-the-african-mobile-money-industry-in-state-of-the-industry-report","status":"publish","type":"post","link":"https:\/\/techandbiz.com.ng\/tab-backup\/2024\/04\/24\/palmpay-is-recognised-by-the-gsma-as-a-key-contributor-to-the-growth-of-the-african-mobile-money-industry-in-state-of-the-industry-report\/","title":{"rendered":"PalmPay is recognised by the GSMA as a key contributor to the growth of the African Mobile Money industry in State of the Industry Report"},"content":{"rendered":"

PalmPay (www.PalmPay.com<\/a>), a leading pan-African fintech,\u00a0has been highlighted by the GSMA in the recently released \u2018The State of the Industry Report on Mobile Money 2024\u2019\u00a0 as a key player driving the adoption of mobile money in Nigeria.<\/p>\n

 <\/p>\n

In the report, GSMA praised PalmPay as a \u201cprominent non-MNO-led mobile money provider with a significant market share in Nigeria\u201d and a top driver of financial inclusion in Africa\u2019s $912 billion mobile money industry.<\/p>\n

 <\/p>\n

Commenting on the report, Sofia Zab, Global Chief Marketing Officer, PalmPay, commented:<\/p>\n

 <\/p>\n

\u201cThis recognition underscores our commitment to drive financial inclusion and economic empowerment across the continent.<\/p>\n

 <\/p>\n

\n

This recognition underscores our commitment to drive financial inclusion and economic empowerment across the continent<\/p><\/blockquote>\n<\/div>\n

\u201cBy leveraging the increase in smartphone adoption, PalmPay made a significant contribution to growing the use of mobile money in Nigeria.\u00a0 Our easy-to-use and comprehensive digital and financial superapp not only provides access to seamless and secure transactions but also opens the door to cutting-edge, affordable financial services for the unbanked and underbanked population.\u201d<\/p>\n

 <\/p>\n

The PalmPay app offers money transfers, airtime, data and bill payments, as well as access to other financial services such as credit and savings. Customers without their own device can access PalmPay\u2019s services through the company\u2019s network of 500,000 mobile money agents.<\/p>\n

 <\/p>\n

Since launching in Nigeria in 2019 under a Mobile Money Operator (MMO) license, PalmPay has registered over 30 million accounts on its smartphone apps. In addition to the self-serve app, its network of 1.1 million agents and merchants is serving 15 million customers monthly. The fintech also operates in Ghana and Tanzania.<\/p>\n

 <\/p>\n

In the report, Mats Granryd, Director General of GSMA, noted that the industry had grown in the ten years to 2022, with mobile money contributing \u201c$600 billion to the GDP of countries with a mobile money service\u201d and opening up more \u201copportunities for citizens, businesses and economies across the world.\u201d\"\"<\/p>\n

 <\/p>\n

He stated that Sub-Saharan Africa has been a driver of mobile money\u2019s success, and was home to almost three-quarters of the world\u2019s accounts. West Africa contributed significantly to the growth of the industry in recent years, with the number of registered mobile money accounts doubling between 2013 and 2023. This growth was mainly driven by Nigeria, Ghana and Senegal.<\/p>\n","protected":false},"excerpt":{"rendered":"

PalmPay (www.PalmPay.com), a leading pan-African fintech,\u00a0has been highlighted by the GSMA in the recently released \u2018The State of the Industry Report on Mobile Money 2024\u2019\u00a0 as a key player driving the adoption of mobile money in Nigeria.   In the report, GSMA praised PalmPay as a \u201cprominent non-MNO-led mobile money provider with a significant market […]<\/p>\n","protected":false},"author":1,"featured_media":16320,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,366,317,444],"tags":[],"class_list":["post-16319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy","category-finance","category-fintech"],"_links":{"self":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts\/16319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/comments?post=16319"}],"version-history":[{"count":0,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts\/16319\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/media\/16320"}],"wp:attachment":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/media?parent=16319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/categories?post=16319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/tags?post=16319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}