Close Menu
OsunDailyNG
  • NATIONAL
  • LATEST
  • POLITICS
  • OSUN NEWS
  • METRO
  • ENTERTAINMENT
  • SPORT
  • BUSINESS
  • WORLD
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
OsunDailyNGOsunDailyNG
Subscribe
  • NATIONAL
  • LATEST
  • POLITICS
  • OSUN NEWS
  • METRO
  • ENTERTAINMENT
  • SPORT
  • BUSINESS
  • WORLD
OsunDailyNG
Home ยป PalmPay launches new security version following CBN directive
LATEST

PalmPay launches new security version following CBN directive

OsunDailyBy OsunDailyDecember 15, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
PalmPay launches new security version following CBN directive
Share
Facebook Twitter LinkedIn Pinterest Email
Reach the right people at the right time with OsunDailyNG. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication at newsdesk@osundailyng.com Call or Whatsapp: +2348132512456 07056907162

Leading fintech company PalmPay has launched a new security in-app version that mandates all new users to input their BVN or NIN numbers before a wallet can be created.

The product launch is in response to the Central Bank of Nigeriaโ€™s recent directive on promoting financial system stability by strengthening the Know Your Customer (KYC) procedure for customers.

Speaking on the upgrade, Chika Nwosu, Managing Director, PalmPay, welcomed the CBN directive on all existing and new users having BVN or NIN.

โ€œWe are committed to ensuring compliance and fostering a secure financial ecosystemโ€, Nwosu said.

โ€œAs a forward-thinking fintech platform, we believe that this measure will enhance the overall security of usersโ€™ wallets and the protection of usersโ€™ data while providing seamless financial services.

โ€œThrough various in-app activities, we have always encouraged our users to link their wallets with their BVN or NIN. We are fully aligned to drive the new directive.โ€

Operating under the Mobile Money Operator license, PalmPayโ€™s wallet opening process requires that new users have to provide their NIN or BVN number.

Also, to limit incidents of impersonation, after the successful input of the NIN or BVN, users will be required to proceed to the face recognition process.

โ€œIn all of this, we believe this measure will reduce fraudulent activities and provide a safe banking environment for all,โ€ Nwosu added.

โ€œWe encourage users to update their KYC information on the app to ensure compliance with the directive.โ€


Reach the right people at the right time with OsunDailyNG. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication at newsdesk@osundailyng.com Call or Whatsapp: +2348132512456 07056907162
CBN Directive Launches Palmpay Security version
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
OsunDaily
  • Website

Related Posts

Anti-Matawalle protests sponsored by Zamfara Govt – APC group

May 10, 2025

Gunmen kill three security personnel during attack on anti-banditry office in Jigawa

March 6, 2025

Troops rescue abducted lecturer in Plateau

March 4, 2025

Comments are closed.

Facebook X (Twitter) Instagram WhatsApp Telegram Threads
  • Home
  • Privacy Policy
  • Advertise with US
  • Contact Us
  • About Us
© 2025 OsunDailyNG Media Hub. Designed by OsunDailyNG Media Hub.

Type above and press Enter to search. Press Esc to cancel.

Join Osun DailyNG Media Hub

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.