PalmPay, a fintech platform, has introduced an Unstructured Supplementary Service Data (USSD) code for its Nigerian consumers.
In a statement, the fintech stated that the USSD platform includes a security feature that allows clients to remotely freeze their accounts in the event of a lost or stolen phone.
PalmPay users who do not have mobile phones can utilize the USSD code *861# to make transactions through the nationwide network of over 500,000 Mobile Money Agents.
The financial platform was launched in Nigeria in 2019 with a Mobile Money operator license from the Central Bank of Nigeria, and says it already has over 30 million registered users on its app and 1.1 million companies connected via a network of mobile agents and merchants.
According to the financial platform, the USSD code is intended to improve the accessibility and convenience of the platform for consumers in a market where data network disruptions are regular.
Chika Nwaso, PalmPay Nigeria managing director, stated, "At PalmPay, we aim to bridge the digital access gap, and the introduction of our USSD service matches with that goal. Our platform ensures that our users have seamless connectivity."
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