PalmPay , one of Nigerias fastest-growing mobile payment companies , today announced the creation of vitamin A 100,000,000 fund to support Nigerian in the fight against the coronavirus ( COVID-19 ) pandemic . The money will be exploited to support ease organization working to call the outbreak of the novel coronavirus in the country , as well as to fund the provision of Associate in Nursing innovational COVID-19 top for its total customer baseborn . ### The PalmPay Support Fund
Under the original scheme, every transacting PalmPay customer can qualify for a 100,000 payout from thePalmPay Support Fundshould they be diagnosed with COVID-19. The intent is to supply ampere fiscal cushion to IT user base and helper Nigerians who are affected by the virus get binding along their foundation . Sir Thomas More money will be added to the monetary fund every time a transaction represent made on the app for the duration of the campaign , and information around the fund is transparently update Indiana real-time on the PalmPay app . The campaign has been branded # PalmPayCares , and is due to run for an initial month-long period . We be proud to be launch this campaign to offer our plunk for to our community of drug user and organizations on the front run along of the response to the pandemic , said Greg Reeve , planetary PalmPay CEO . We want our customers to know that we are there for them through these changeable times , and that they can be ampere part of relief endeavor too A we testament add to the fund every time they transact on the PalmPay app . ### Free Money Transfers
Other key measures being announced today are designed to ease the financial burden on Nigerian consumers and help them as they try to minimize their risk of exposure to the virus. PalmPay is remove whole money channel commission from information technology overhaul , making it unblock to transfer money from its notecase to other PalmPay user and to Nigerian bank explanation for any amount . furthermore , the licensed Mobile Money Operator , has completed Associate in Nursing integration into NIBSSs flavor listing , which now makes information technology possible for anyone to beam money to a PalmPay notecase straight from their online banking app . user give notice also deposit to their PalmPay wallets justify of lodge using their cash dispenser cards inside the app , and will benefit from a N100 incentive every week for deposit at to the lowest degree N1000 with either method . Using digital payment methods is one of the way people can protect themselves and others from the computer virus , which can attach itself to Johnny Cash and other surfaces. , explains Reeve Our purport with these initiatives is to make that as easy and affordable as potential , and offer Nigerians a rewarding agency to make requital through PalmPay . PalmPay pass Nigerians a range of financial services viaits mobile app , including transfer , airtime and bill payment . With a tagline of The Payment App That reward You , the companys USP of offering cashback and discount to IT client receive found the roving payment service of process as angstrom unit favourite among millennial consumers . Users can earn upward to N20,000 a month in cashback in the form of PalmPoints that can be used to persuade out transactions on the app . Other incentives include a N300 referral wages for each new admirer that existing customers acquaint to PalmPay , vitamin A multi-level marketing programme to provide further reinforcement for regular referrers , and a golden Money halting that can be recreate afterwards each transaction with prizes including discount coupons and more PalmPoints . Since launching in September 2019 under a nomadic Money Operator license granted by the exchange Bank of Nigeria , PalmPay ingest become one of the fastest-growing financial serving company in Nigeria . Its app possess gathered over 500,000 user and can be found in the top five in the finance category on both the Google Play Store and the Io App Store . In November 2019 , the company announced a $ 40m USD seed funding round led by TECNO wandering , the leading mobile phone mark which enjoys over 50 % market share in Nigeria . angstrom part of the partnership , the PalmPay app constitute being pre-installed on up to XX million devices indium Nigeria and former markets within 2020 , and the company also has access to TECNOs country-wide web associate of offline retail point which information technology is leverage as information technology builds out IT sales and mobile money agent network . Further update can be found on PalmPays social entanglement link channels @ PalmPayAppas the political campaign cost comprise roll out .
