Nigeria mobile payments companies, PalmPay has disclosed it intention to raise N100 million to assist nation in combating the COVID-19 pandemic. The fund it says will be used to support relief organisations that handles the outbreak including a customer shield scheme against the disease.
Every transacting PalmPay customer can qualify for a N100,000 payout from the PalmPlay Support Fund if tested positive to the virus. Subsequently, refunds will be made every time a transaction is made on the app for the duration of the campaign, and information about the fund is transparently updated in real-time on the PalmPay app. The campaign has been branded #PalmPayCares, and is due to run for an initial month-long period.
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“We are proud to be launching this campaign to offer our support to our community of users and organizations on the front line of the response to the pandemic”, said Greg Reeve, Global PalmPay CEO. “We want our customers to know that we are there for them through these uncertain times, and that they can be a part of relief efforts too as we will add to the fund every time they transact on the PalmPay app.”
More so, to ease the financial burden on Nigerians as a measure to control the spread of the virus, charges will not be deducted from any traction, allowing free transfers of any amount, as an integration into NIBSS’s NIP list was made to allow for anyone to send money to a PalmPay wallet straight from their online banking app. Deposition in the Palmpay wallets is also free with an incentive of N100 eevery week for deposits not less that N1000
“Using digital payment methods is one of the ways people can protect themselves and others from the virus, which can attach itself to cash and other surfaces.”, explains Reeve “Our aim with these initiatives is to make that as easy and affordable as possible, and offer Nigerians a rewarding way to make payments through PalmPay.”
PalmPay offers Nigerians a range of financial services via its mobile app, including transfers, airtime and bill payment. With a tagline of “The Payment App That Rewards You”, the company’s USP of offering cashback and discounts to its customers has established the mobile payments service as a favorite among millennial consumers.
Users can earn up to N20,000 a month in cashback in the form of PalmPoints that can be used to carry out transactions on the app. Other incentives include a N300 referral reward for each new friend that existing customers introduce to PalmPay, a multi-level marketing programme to provide further rewards for regular referrers, and a “Lucky Money” game that can be played after each transaction with prizes including discount coupons and more PalmPoints.
