PalmPay, a Nigerian fintech startup, has been ranked as the second fastest-growing company in Africa by the Financial Times for 2025, in a significant tribute to local innovation.

PalmPay is more than a mere mobile wallet for numerous Africans, particularly those in Nigeria. It has evolved into a daily instrument for bill payment, money transfer, and even food purchase.

This acknowledgment is evidence that growth occurs organically when technology resolves genuine issues.

PalmPay has accumulated over 35 million registered users and conducts approximately 15 million transactions daily since its inception a few years ago.

By providing a secure and seamless mobile experience, PalmPay is assisting in the closure of the financial inclusion divide, even for those who do not have traditional bank accounts.

It is facilitating the participation of market traders, students, artisans, and families in the digital economy more easily.

PalmPay’s emphasis on community engagement and user experience distinguishes it from its competitors.

The platform has established trust in a region where fintech adoption is occasionally greeted with skepticism, thanks to its user-friendly app interface and cashback rewards.

Its footprint has been further fortified by its partnerships with local institutions, agents, and SMEs.