Payment platform unveils USSD service

Financial technology platform with over 30 million users on its smartphone app in Nigeria, PalmPay, yesterday announced the launch of its USSD code. This service offers Nigerians an additional way to manage their finances without the need for Internet connectivity.

With the PalmPay USSD code, customers can now perform a wide range of banking transactions by dialing *861# from their mobile phones. PalmPay, which has been operating in Nigeria since 2019 under a Mobile Money Operator license issued by the Central Bank of Nigeria (CBN), pioneered a model that provided financial services such as money transfers, bill payments, credit services and savings via a one-stop-shop financial ‘superapp’.

Customers without access to smartphones can make transactions via a nationwide network of over 500,000 Mobile Money Agents. The addition of a USSD access point is designed to further enhance the accessibility and convenience of its platform for consumers in a market where data network outages are common.

Managing Director, Nigeria, Chika Nwosu, emphasised the company’s commitment to financial inclusion.

“At PalmPay, we aim to bridge the gap in digital access, and the introduction of our USSD service aligns with that mission. Our platform ensures seamless connectivity for our users,” he said.

“In addition, our USSD platform comes with a security feature, which allows our customers to remotely freeze their accounts in case their phone is lost or stolen, providing an extra layer of protection to safeguard their finances,” he stated.