PalmPay Debit Card Launches, To Boost Financial Inclusion

PalmPay, a rising force in African fintech, has unveiled its PalmPay Debit Card in partnership with Verve, the continent’s largest domestic card scheme. This launch marks a major step in PalmPay’s evolution from a mobile wallet into a full-fledged digital banking platform.

The new debit card focuses on accessibility and financial rewards. It comes with zero maintenance fees, an easy in-app application process, and nationwide delivery. PalmPay aims to convert a large share of its 35 million users into cardholders, offering seamless transactions at all Verve-supported merchants. The card supports both debit and contactless payments, adding another layer of convenience for users.

A Game-Changer for Digital Banking

The PalmPay Debit Card isn’t just another payment option—it’s designed to enhance financial inclusion while offering users attractive benefits such as savings yields on deposits and merchant rewards. According to Sofia Zab, Chief Marketing Officer at PalmPay, this launch is a key part of the company’s broader mission.

“With the PalmPay Debit Card, we are expanding our ecosystem and enabling our users to pay and earn rewards at even more touchpoints, including across offline and online commerce. And for merchants, this opens up new opportunities to reach millions of Nigerian digital consumers and collaborate with us to build reward-driven experiences that boost loyalty and sales.”

In addition to the standard debit card, PalmPay is introducing PalmPay Premium, a reward scheme tailored for high-volume users. This version comes with perks like priority customer support, exclusive merchant benefits, and advanced financial tools.

A Growing Digital Finance Network

PalmPay has rapidly expanded across Nigeria, processing up to 15 million transactions daily and supporting a vast network of 1.1 million agents and merchants. Beyond Nigeria, the company is scaling operations in Ghana, Tanzania, and Bangladesh.

Alongside consumer-focused services, PalmPay offers B2B solutions for both local and international merchants, including Smart POS terminals and business management tools, payment orchestration solutions for streamlined checkouts, bulk payment systems through a self-service merchant portal, and APIs for businesses to integrate PalmPay’s financial services.

 Jiapei Yan, PalmPay’s Chief Commercial Officer, emphasised the company’s commitment to collaborative innovation.

“At PalmPay, we believe that building a thriving digital economy requires collaboration. The launch of our debit card is another example of how we are combining cutting-edge technology with our partner strengths to deliver inclusive financial services at scale—empowering businesses targeting Africa to grow faster, reach more customers, and unlock new revenue streams.”

Shaping Africa’s Digital Economy

Introducing the PalmPay Debit Card shows the company’s ambition to redefine digital banking in emerging markets. From zero-fee transfers and high-yield savings to instant credit, insurance, and now debit cards, the platform is strengthening its position as a trusted financial hub.

Verve International’s Managing Director, Vincent Ogbunude, hailed the partnership as a milestone for financial inclusion in Africa.

“We are proud to partner with PalmPay on this important milestone. Our alliance reflects our shared mission of accelerating financial inclusion and delivering payment innovation that meets the needs of African consumers.”