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Following PalmPay’s recognition as Digital Innovative Platform of the Year at the BAFI Awards 2026, Chika Nwosu, Managing Director of PalmPay Nigeria, reflects on how customer-first innovation, accessibility and security are shaping the future of digital payments.
Nigeria has witnessed significant growth in the adoption of digital banking, with more people relying on technology to make payments, transfer money and manage their finances. Sustaining this progress requires more than innovative ideas; it demands reliable infrastructure that can support growing demand, deliver seamless transactions and keep customers protected.
Nwosu made this known following PalmPay’s recognition as Digital Innovative Platform of the Year at the BAFI Awards 2026, noting that the next phase of digital financial services would depend not only on technological advancement but also on the ability of providers to deliver reliable, affordable and secure experiences.
According to EFInA’s 2026 Access to Financial Services in Nigeria Survey, financial inclusion has reached 79%, representing approximately 94.2 million Nigerian adults, while the use of digital financial services has grown to 64.4% of adults. He said the figures highlight the progress made in expanding access to financial services while underscoring the need to ensure that more Nigerians can use digital platforms confidently and consistently.
According to him, financial technology providers must look beyond customer acquisition and transaction volumes to focus on the everyday experiences that determine whether people trust and continue to use digital financial services.
“At PalmPay, we believe innovation must begin with the customer. Technology should make financial services more accessible, affordable and secure, while addressing the everyday needs of the people who use them,” Nwosu said.
He noted that PalmPay continues to invest in the technology and infrastructure needed to support digital banking, facilitate everyday payments and transfers, and reduce transaction costs through offerings such as free transfers.
However, he stressed that expanding access alone would not be sufficient to achieve meaningful financial inclusion, adding that customer education and financial literacy remain essential to helping people navigate digital financial services safely.
Nwosu also identified security as a critical priority for the industry, noting that the increasing adoption of digital payments has made it necessary for financial service providers to strengthen their systems while equipping customers with the knowledge to recognise and avoid fraud.
He said protecting customers requires a combination of technology, proactive security measures and sustained awareness efforts, particularly as fraudsters continue to develop new methods of exploiting unsuspecting users.
Through its PalmPay Dey For You campaign and upgraded Security Center, the company is strengthening its approach to consumer protection by providing security features and educating customers on safe banking practices.
The initiative encourages users to protect sensitive information, including their PINs and OTPs, avoid suspicious links and use official support channels when seeking assistance.
According to Nwosu, security must be integrated into the customer experience rather than treated as a separate consideration, with financial technology providers ensuring that customers can access protection without compromising convenience.
He added that customer confidence is shaped not only by the technology a platform offers but also by the reliability of its services, the quality of customer support and the effectiveness of its response when problems arise.
Commenting on PalmPay’s recognition at the BAFI Awards 2026, Nwosu described the award as an important milestone, while emphasising that the company’s priority remains delivering meaningful value to customers.
He said the recognition reinforces the importance of continuous investment in infrastructure, customer-focused innovation and security as the digital financial services market evolves.
As Nigeria’s digital payments ecosystem continues to expand, Nwosu maintained that the providers best positioned for long-term growth would be those that combine technological innovation with affordability, accessibility and customer protection.
For PalmPay, he said, the objective remains to make digital banking simpler and more secure for Nigerians, ensuring that innovation translates into practical benefits and greater confidence in everyday financial transactions.
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