AfriGO and PalmPay have announced a strategic partnership to issue over 5 million AfriGO payment cards in Nigeria. This collaboration aims to enhance financial inclusion, empower underserved communities, and strengthen the country’s digital payment ecosystem.
“AfriGO and PalmPay have announced a strategic partnership. This collaboration aims to redefine the payment landscape by issuing over 5 million AfriGO cards to Nigerians. Through this initiative, AfriGO and PalmPay are set to empower underserved communities, drive financial inclusion, and strengthen Nigeria’s digital economy,” the companies stated.
AfriGO: Nigeria’s National Domestic Card Scheme
AfriGO is Nigeria’s national domestic card scheme, launched by the Central Bank of Nigeria (CBN) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS) to enhance the country’s digital payment infrastructure.
Unlike foreign card schemes, AfriGO is designed to be more affordable and accessible, with transactions settled entirely in naira. This eliminates foreign exchange risks and reduces costs for both banks and users, as all transaction processing occurs within Nigeria.
Benefits for Merchants and Consumers
Chika Nwosu, Managing Director of PalmPay Nigeria, highlighted the partnership’s role in providing secure, cost-effective, and locally tailored payment solutions.
“At PalmPay, we are committed to creating financial solutions that are not only innovative but also inclusive. Partnering with AfriGO allows us to deliver secure, cost-effective, and localized payment options that empower Nigerians and strengthen the digital economy. This is a milestone in our mission to redefine financial accessibility in Nigeria,” he stated.
AfriGO cards offer users a seamless way to conduct financial transactions, including in-store and online purchases, ATM withdrawals, money transfers, and cashless payments via Agent POS terminals. Additionally, the AfriGO Instant Settlement service ensures that merchants and agents receive payments immediately after transactions, enhancing efficiency, improving cash flow, and minimizing financial risks.
Ebehijie Momoh, Managing Director/CEO of Afrigopay Financial Services Limited (AFSL), emphasized the partnership’s significance in expanding digital payment access across Nigeria.
“We are excited to partner with PalmPay to revolutionize financial services and expand access to digital payments across Nigeria. Through this collaboration, AfriGO and PalmPay will provide enhanced access to digital payments—particularly in underserved areas—drive financial inclusion, and support the rapidly growing digital economy in Nigeria,” he said.
Enhanced Security and Innovation
The AfriGO card is built on EMVCo standards, ensuring secure transactions through tokenization and contactless payment features. PalmPay will integrate these capabilities into its digital ecosystem to offer a seamless and secure payment experience.
The Future of Digital Payments in Nigeria
Globally, tap-to-pay transactions have become the standard, making payments faster and more convenient. In Nigeria, where cash and PIN-based transactions still dominate, the government and fintech companies see an opportunity to introduce a smoother digital payment experience.
AfriGO has also partnered with Moniepoint to roll out five million contactless payment cards and tap-to-pay solutions across Nigeria. Additionally, the Nigerian government has collaborated with Mastercard to advance financial inclusion by providing one million farmers across the continent with access to digital financial services and contactless payment solutions.
