PalmPay launches new security version following CBN directive.
StarNews9ja PalmPay launches new security version following CBN directivePublished on December 15, 2023By Daily Post Staff Leading fintech company PalmPay has launched a new security in-app version that mandates all new users to input their BVN or NIN numbers before a wallet can be created. The product launch is in response to the Central Bank of Nigeria’s recent directive on promoting financial system stability by strengthening the Know Your Customer (KYC) procedure for customers. Speaking on the upgrade, Chika Nwosu, Managing Director, PalmPay, welcomed the CBN directive on all existing and new users having BVN or NIN. “We are committed to ensuring compliance and fostering a secure financial ecosystem”, Nwosu said. “As a forward-thinking fintech platform, we believe that this measure will enhance the overall security of users’ wallets and the protection of users’ data while providing seamless financial services. “Through various in-app activities, we have always encouraged our users