PalmPay is launching contactless payment capabilities in Nigeria in partnership with CashAfrica, starting with a pilot of 1,000 POS devices. The goal is to facilitate seamless transactions amid a cash-dominated market, responding to growing demand for faster, safer payment methods. The initiative may reshape the payment landscape, pending successful pilot results and proper merchant integration.
Nigeria’s digital payments scene is rapidly advancing, yet contactless technology is still uncommon compared to regions like Europe and China. PalmPay, a major fintech in Nigeria, is collaborating with CashAfrica to introduce tap-to-pay capabilities on its POS terminals. Initially, 1,000 devices will be deployed in a pilot program, paving the way for a nationwide rollout anticipated in March.
The entry of PalmPay and CashAfrica into contactless payments could transform Nigeria’s payment landscape. Their initiative aims to bridge the gap left by limited adoption of current alternatives while addressing security through robust technology. If successful, this service could significantly expedite the move towards a cashless economy, making transactions quicker and smoother for users.
Original Source: techcabal.com
