PalmPay Expands Security Tools As Fintech Fraud Concerns Grow

• PalmPay has launched a new security campaign focused on fraud awareness, account protection and giving customers greater control over their transactions.

• The fintech is highlighting tools including Location Guard, NightGuard and dedicated channels for locking accounts, cards and tracking transaction disputes.

• The initiative comes as digital financial services become more embedded in Nigerians’ daily transactions, increasing the importance of stronger fraud prevention and customer protection.

September 08, () — PalmPay is stepping up efforts to strengthen customer confidence in digital financial services with a new campaign focused on account security, fraud awareness and greater customer control over financial transactions.

The fintech launched its ‘PalmPay Dey For You’ campaign as concerns over fraud, account security and the reliability of digital financial services continue to attract attention among Nigerian consumers.

PalmPay operates under a Central Bank of Nigeria licence, while the Nigeria Deposit Insurance Corporation insures eligible customer deposits.

PalmPay Puts Security Tools In Customers’ Hands

The campaign aims to raise awareness of security features on PalmPay and reinforce the company’s commitment to protecting customers and their funds.

Speaking on the initiative, the Managing Director of PalmPay Nigeria, Chika Nwosu, said trust remained central to the relationship between financial institutions and their customers.

“Trust is fundamental to banking. Customers need to know that the institution they rely on is regulated, secure, dependable, and available when they need it”, Nwosu said.

He said the campaign would reinforce PalmPay’s commitment to customer protection while helping users exercise greater control over their banking experience.

At the centre of the initiative is PalmPay’s Security Centre, which brings together several tools designed to help customers strengthen account protection and monitor potential security risks.

One of the features, Location Guard, allows customers to designate up to six trusted locations. The feature provides an additional layer of protection when account activity originates from an unexpected location.

PalmPay has also introduced NightGuard, which provides additional protection during periods selected by customers.

Faster Response To Lost Phones, Cards And Disputes

PalmPay is also targeting situations where customers lose access to their phones or cards.

Customers can lock their PalmPay accounts by dialling 86112#, while cards can be locked through 8617*5#.

The fintech has also expanded its dispute-management system through a dedicated Dispute Page, allowing customers to submit and track transaction complaints directly within the application.

The company said the initiative would combine its security features with educational content, frequently asked questions, customer forums and other communications designed to improve awareness of fraud risks.

According to PalmPay, the objective is not only to strengthen the technology protecting customers but also to ensure users understand how to activate and use available security features.

Nwosu said customers should be able to use PalmPay’s security tools confidently, describing the company as a financial partner supporting customers’ everyday financial needs.

Digital Finance Raises Pressure For Stronger Safeguards

The campaign comes as digital financial services become increasingly integrated into Nigerians’ daily transactions, including money transfers, bill payments, savings and other financial activities.

As more transactions move onto digital platforms, security and fraud prevention have become increasingly important to maintaining customer confidence and encouraging wider adoption.

PalmPay said its approach is based on “security by design”, with protection incorporated into the customer experience rather than treated solely as a response to individual incidents.

The company said the campaign would continue to focus on helping customers understand both the safeguards operating behind the scenes and the measures they can activate themselves to protect their accounts.