AfriGO has announced a strategic partnership with PalmPay to distribute over 5 million payment cards across the country. This collaboration aims to boost financial inclusion, empower underserved communities, and strengthen the nation’s growing digital economy.
AfriGO, Nigeria’s national domestic card scheme launched by the Central Bank of Nigeria (CBN) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), is designed to provide affordable and accessible payment solutions. Unlike foreign card schemes, AfriGO cards settle transactions entirely in naira, eliminating foreign exchange risks and reducing costs for banks and users. All transaction processing is handled locally within Nigeria.
Speaking on the partnership, Chika Nwosu, Managing Director of PalmPay Nigeria, emphasized the importance of providing secure and cost-effective payment solutions tailored to local needs. “At PalmPay, we are committed to creating innovative and inclusive financial solutions. Partnering with AfriGO allows us to deliver localized payment options that empower Nigerians and strengthen the digital economy,” Nwosu said.
The cards will enable users to carry out a range of financial transactions, including online and in-store purchases, ATM withdrawals, money transfers, and cashless payments at Agent POS terminals. Additionally, merchants will benefit from AfriGO’s Instant Settlement service, which ensures immediate payment after transactions—enhancing efficiency and improving cash flow.
Ebehijie Momoh, Managing Director/CEO of Afrigopay Financial Services Limited (AFSL), highlighted the impact of this initiative on underserved areas. “We are excited to partner with PalmPay to revolutionize financial services in Nigeria. This collaboration will expand access to digital payments, particularly in underserved regions, driving financial inclusion and supporting our rapidly growing digital economy,” Momoh stated.
Built on EMVCo standards, AfriGO cards offer advanced security features such as tokenization and contactless payment capabilities. PalmPay plans to integrate these features into its digital ecosystem for a seamless user experience. This aligns with global trends where tap-to-pay transactions are becoming the standard for fast and secure payments.
This partnership follows a similar initiative between AfriGO and Moniepoint to roll out five million contactless payment cards across Nigeria. Both collaborations reflect ongoing efforts by fintech companies and the federal government to modernize the country’s payment systems while reducing reliance on cash-based transactions.
