PalmPay launches USSD code in Nigeria, enabling millions to access financial services without internet, enhancing financial inclusion. (Image source: Palmpay)

PalmPay, a prominent financial platform with over 30 million users on its mobile app in Nigeria, has introduced a USSD code service

This new feature provides Nigerians with an alternative way to manage their finances without relying on internet access. By dialing *861# on their mobile phones, PalmPay customers can now perform various banking transactions.

Expanding cashless transactions 

Since launching in 2019 under a Mobile Money Operator license granted by the CBN, PalmPay has offered a range of financial services, including money transfers, bill payments, credit, and savings, all within its comprehensive financial "superapp."

For those without smartphones, PalmPay’s vast network of over 500,000 Mobile Money Agents enables transactions nationwide. The addition of the USSD feature is designed to increase accessibility and convenience for users, especially in a market where internet outages are common.

Chika Nwosu, managing director for Nigeria, reaffirmed the company’s focus on financial inclusion: "At PalmPay, we aim to bridge the gap in digital access, and the introduction of our USSD service aligns with that mission. Our platform ensures seamless connectivity for our users," he stated. He also highlighted the security aspect of the new service, noting that users can freeze their accounts remotely if their phone is lost or stolen, providing enhanced protection for their finances.

PalmPay has made notable strides in Nigeria, amassing over 30 million registered users and connecting 1.1 million businesses through its network of mobile money agents and merchants. The platform has played a pivotal role in driving financial inclusion, with one-third of its users having opened their first-ever financial account through PalmPay.

Recently, PalmPay was named one of the World’s Top 250 Fintech Companies in 2024 by CNBC and Statista.

With a focus on user-friendly interfaces, reliable transactions, and growth through fee-free transfers and promotions, PalmPay continues to strengthen its position as a key player in Nigeria’s fintech landscape.

Vivek Badrinath is the new director general of the GSMA. (Image source: The GSMA)

The GSMA, a global organisation unifying the mobile ecosystem, has appointed Vivek Badrinath as the new director general and member of the GSMA board

Badrinath has held several significant leadership roles throughout his career, experience that will stand him in good stead to perform effectively in his new position. And this history includes extensive engagement with Africa, having previously served as regional CEO of Africa, Middle East and Asia Pacific at Vodafone. Before this, he held key positions at Orange.

The new director general will take over from Mats Granryd, who will step down from the role after MWC Barcelona 2025.

Driving digital change

“I am delighted to announce Vivek Badrinath’s appointment.” said José María Álvarez-Pallete López, chairman of the GSMA. “During our selection process it was clear that Vivek’s deep understanding of the industry and its potential make him the ideal individual to lead the GSMA into the next phase of its evolution. I am confident that Vivek will work, together with the board and our excellent GSMA leadership team, to drive change and innovation, creating value for both the industry and society.”

“I’m proud and honoured to be joining the GSMA at such an exciting time in the industry’s development,” remarked Badrinath. “I look forward to working with the GSMA board, it’s members, and the leadership team to extend and amplify the positive impact of the mobile ecosystem for people, industry and society globally.”