PalmPay has reaffirmed its commitment to strengthening financial inclusion and customer protection in Nigeria with its nationwide “PalmPay Dey For You” campaign, designed to promote safer digital banking, fraud awareness and greater confidence among its more than 35 million registered users.
According to Chika Nwosu, Managing Director of PalmPay Nigeria, the campaign reflects the company’s responsibility to protect customers as digital financial services continue to expand.
“Trust is fundamental to financial services. Customers need to know that the platform they use takes the protection of their money seriously and gives them the tools and information to transact with confidence,” Nwosu said.
He explained that the campaign was launched in response to increasingly sophisticated fraud patterns, particularly social engineering. PalmPay’s fraud reporting data indicates that up to 75% of reported fraud cases within its ecosystem stem from social engineering, highlighting the importance of combining technology with customer education.
“Financial inclusion is not only about opening an account. It is about whether people can use financial services consistently, confidently and in ways that improve their everyday lives,” Nwosu said, adding that security is therefore an important part of making financial inclusion sustainable.
PalmPay is leveraging artificial intelligence and machine learning to support fraud detection and risk management. These technologies help identify unusual transaction patterns and trigger additional verification where necessary, while human oversight remains central to the company’s security and risk processes.
“AI does not replace governance or human oversight. It supports our risk, fraud and security teams with better information and faster decision-making,” Nwosu explained.
The company has also introduced a transaction dispute page within the PalmPay app, allowing users to report suspicious transactions, scams and account anomalies directly. For common transfer failures, PalmPay’s automated auto-reversal system is designed to resolve issues instantly, while the company’s baseline target for more complex complaints is resolution within 24 hours.
Nwosu also emphasised the role of regulation in building a safer fintech ecosystem, noting that responsible regulation can guide innovation rather than restrict it.
“Regulation does not stifle innovation. What regulation does is guide innovation, ensuring that rapid development does not create unintended vulnerabilities for consumers,” he said.
He added that cybersecurity requires continuous investment as threats evolve.
“Cybersecurity is not a one-time investment. Threats continue to evolve, so financial institutions have to keep investing in technology, people, processes, monitoring and customer education.”
For PalmPay, the PalmPay Dey For You campaign brings these efforts together around one objective: ensuring customers can access and use digital financial services with greater confidence.
“Our users must know that PalmPay Dey For You is built entirely around them. Our user community is our greatest asset; without them, we would not exist,” Nwosu said.
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