Friday 18th July 2025
Por inAfrika Reporter
PalmPay has once again made headlines by being featured on CNBC and Statista’s 2025 list of the Top 300 Fintech Companies in the World. This is the second consecutive year PalmPay has earned this distinction, which honors innovation, impact, and global market influence in the financial technology space. Competing alongside giants like Revolut, Nubank, and Ant Group, PalmPay has positioned itself as a standout fintech player, especially in high-growth, emerging markets.
With over 35 million users and up to 15 million daily transactions, PalmPay’s growth story is rooted in its mission to bring financial inclusion to underserved communities. Operating predominantly in Nigeria, the company provides a full suite of financial services including transfers, bill payments, credit, savings, and insurance via a user-friendly mobile app. Its services are also supported by an extensive physical agent network comprising over 1 million partners. Moreover, PalmPay’s offerings extend into B2B solutions such as POS devices and APIs, reinforcing its role in both the consumer and enterprise segments.
What sets PalmPay apart is its strategic use of local distribution, advanced technology, and a laser focus on user experience. This approach has enabled the company to penetrate deeply into the Nigerian financial ecosystem. The company is also expanding into new territories such as Tanzania and Bangladesh using smartphone financing as a gateway to digital financial adoption.
Sofia Zab, the Founding Chief Marketing Officer, highlighted the broader vision behind PalmPay’s journey, emphasizing their commitment to bridging financial access gaps and building inclusive financial infrastructure. According to Group Chief Commercial Officer Jiapei Yan, PalmPay’s model is designed specifically for the challenges and needs of emerging markets, enabling both people and businesses to thrive in a connected digital economy.
Beyond recognition from CNBC and Statista, PalmPay also earned the number one position in the financial services category and second overall in the Financial Times’ 2025 list of Africa’s Fastest-Growing Companies. This recognition is based on revenue growth between 2020 and 2023, a period during which PalmPay significantly scaled its operations.
Currently active in Nigeria, Ghana, Tanzania, and Bangladesh, PalmPay is pursuing a regional expansion strategy across Africa and Asia. Backed by strong partnerships and a scalable digital infrastructure, the company aims to be a catalyst for inclusive financial development, especially in markets where traditional banking has limited reach. Its trajectory offers a compelling example of how fintech can drive real-world economic empowerment.
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