PalmPay, one of Africa’s leading fintech platforms, has officially joined Zone’s decentralized payment network, marking a significant milestone in its journey to enhance payment infrastructure and provide superior services to its 35 million users.
A Strategic Collaboration
This partnership underscores a shared commitment to delivering seamless, secure, and efficient payment solutions across Africa. Speaking on this development, Obi Emetarom, Co-founder and CEO of Zone, expressed his enthusiasm:
“We are thrilled to welcome PalmPay to our payment network. Their approach to becoming a market leader through exceptional payment experiences aligns perfectly with Zone’s mission of offering a reliable, frictionless, secure, and compliant payment network. With our infrastructure, PalmPay is poised to amplify its value proposition and extend its market leadership.”
Key Advantages of the Partnership
By integrating with Zone’s regulated blockchain network, PalmPay unlocks several strategic benefits:
- Direct Transaction Routing
Zone’s network eliminates intermediaries, reducing potential points of failure and enabling more reliable and secure transactions. This ensures uninterrupted payment processes, meeting the demands of PalmPay’s rapidly growing customer base. - End-to-End Transparency
With full transaction visibility, Zone’s infrastructure supports automatic reconciliation, effectively eliminating chargebacks and protecting against chargeback fraud. This provides PalmPay’s users with greater confidence and security in their financial transactions. - Same-Day Settlement
PalmPay users will benefit from Zone’s same-day settlement capabilities, enabling faster access to funds. This expedited process not only enhances liquidity but also solidifies PalmPay’s reputation for efficiency and reliability.
Regulatory Compliance
PalmPay’s compliance with POS transaction processing regulations is further strengthened by Zone’s partnership with NIBSS and endorsement from the Central Bank of Nigeria (CBN). This ensures that PalmPay remains fully compliant while offering reliable, frictionless payment experiences.
A Competitive Edge for PalmPay
This collaboration positions PalmPay at the forefront of the fintech industry, offering a significant competitive advantage. It paves the way for PalmPay to set new standards in digital finance while preparing for its next growth phase.
Chika Nwosu, Managing Director at PalmPay Nigeria, shared the company’s excitement:
“Our partnership with Zone marks an exciting step in our mission to deliver exceptional financial solutions. By leveraging Zone’s blockchain-powered infrastructure, we’re enhancing the reliability and speed of our transactions, achieving a success rate of 99.5%. This allows us to better serve our customers and redefine digital finance in Africa.”
The Road Ahead
With this integration, PalmPay is well-equipped to reinforce its leadership position in the fintech space. The collaboration with Zone is a testament to both companies’ shared vision of creating a robust and innovative payment ecosystem that empowers millions across Africa.
As PalmPay joins Zone’s decentralized payment network, the partnership sets a new benchmark for efficiency, transparency, and reliability in digital payments.
