By Jelili Gbadamosi
PalmPay’s growing role in Nigeria’s digital payments ecosystem has received industry recognition, with the fintech company emerging as the Digital Payments Platform of the Year at the 2026 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
The award, organised by BusinessDay, was presented to PalmPay on October 9, 2026, at the Civic Centre in Lagos by the publisher and co-founder of BusinessDay, Frank Aigbogun.
The recognition comes as digital financial services continue to play a larger role in how Nigerians make payments, manage businesses and access financial services.
Since commencing operations in Nigeria in 2019, PalmPay has expanded its digital financial services platform to support payments, bill payments and other financial transactions. The company said it currently serves more than 35 million users across the country through its network of customers, merchants and agents.
Speaking on the award, the Managing Director of PalmPay Nigeria, Chika Nwosu, said the recognition reinforced the company’s commitment to developing financial services around the everyday needs of Nigerians.
“We are honoured to receive the Digital Payments Platform of the Year award at the BAFI Awards. Digital payments have become an important part of how Nigerians manage their finances, run businesses and carry out everyday transactions,” Nwosu said.
He added that the company would continue to focus on accessibility, reliability and security as more Nigerians adopt digital financial services.
According to Nwosu, PalmPay’s responsibility extends beyond facilitating transactions to ensuring that customers have the information and support required to use digital financial services safely.
The fintech’s emphasis on consumer protection is also reflected in its ongoing PalmPay Dey For You campaign, which seeks to educate users on security features and promote safer digital payment practices.
The company’s approach comes amid the increasing importance of trust and security in Nigeria’s digital finance ecosystem. As more consumers conduct financial activities online, concerns around transaction security and customer protection remain key factors in determining confidence and adoption.
PalmPay said it plans to continue investing in technology, security and customer experience as it seeks to expand access to reliable financial services in Nigeria and its other markets.
The BAFI recognition therefore highlights not only PalmPay’s growth in the digital payments space but also the increasing importance of secure and accessible financial technology in advancing financial inclusion.
