PalmPay (www.PalmPay.com), a number one Africa-focused fintech platform, has been included within the 2024 version of CNBC and Statista’s prestigious listing of the “Prime 250 Fintech Corporations within the World.” This recognition underscores PalmPay’s speedy development and vital contributions to advancing monetary inclusion.
The CNBC/Statista listing honours fintech pioneers considerably reworking the monetary companies trade via know-how. Greater than 2000 firms had been evaluated globally based mostly on common and sector-specific KPIs to find out the ultimate choice. In 2024, a few of the most influential fintechs on the planet had been included within the listing, together with Alipay, Nubank, Monzo, and Revolut. Six different African corporations made the listing: Flutterwave (Nigeria/US) – Funds; Kuda (Nigeria/UK) – Neobanking; MTN (South Africa) – Funds; Piggyvest (Nigeria) – Monetary planning; and Yoco (South Africa) – Funds.
PalmPay has developed an built-in platform that caters to shoppers and companies within the African market. The startup, which has been working since 2019, pioneered a novel mannequin in Nigeria that gives monetary companies akin to cash transfers, invoice cost, credit score companies and financial savings through a one-stop-shop fintech ‘superapp’ and cellular cash brokers.
This twin strategy of easy-to-use digital banking, mixed with offline touchpoints for these with out smartphones, has contributed to driving monetary inclusion in a market the place greater than 40% of adults stay unbanked.
In 2023, PalmPay introduced a significant milestone of reaching 30 million registered customers on its smartphone apps and 1.1 million companies in its community of cellular cash brokers and retail retailers. A 3rd of PalmPay clients report that the platform was their first-ever monetary account.
PalmPay has shortly grown to turn into a market chief in Nigeria because of its user-friendly interface, dependable transactions, and deal with driving market share via fee-free transfers and promotions. PalmPay processes 15 million transactions on its client app every day and maintains a 99.5% transaction success price.
To attain this scale in a market the place 10% transaction failure charges had been widespread, the corporate constructed out its cost infrastructure, channel integrations and transaction routing programs. Along with its client pockets, PalmPay affords companies to companies that leverage the PalmPay platform through its suite of POS machines, APIs and checkout options.
“It’s an honour for PalmPay to be recognised by CNBC and Statista as one of many World’s Prime Fintech Corporations,” stated Sofia Zab, International CMO, “This recognition validates our distinctive strategy to monetary companies and our dedication to driving monetary inclusion. We’re actively increasing PalmPay’s attain and choices, making certain extra folks have entry to important monetary companies and selling financial improvement in rising markets”
PalmPay operates in a number of key markets throughout Africa, together with Nigeria, Ghana and Tanzania, with plans to broaden additional within the area and different rising markets. The corporate has international HQs in China and London.
For extra info, go to www.PalmPay.com
Distributed by APO Group on behalf of PalmPay.