A fintech startup, PalmPay, has stated that it is committed to promoting the use of contactless payments in Nigeria.
The Punch reported that during a discussion on the theme of “The next frontier: Digital wallets, contactless payments, and buy now pay later” at the Zenith Tech Fair in Lagos, the country manager of PalmPay, Fey Wong, made this statement.
Speaking at the “Future Forward 3.0” fair, Wong also declared that NFC and QR Code payments would be the two payment methods that lead the way for contactless payments in Nigeria going forward.
Both products have advantages, and PalmPay was ready for them, according to him.
He said, “We have a unique advantage at PalmPay on both the merchant side and the user side. Regarding the merchant end, we have over 600,000 offline merchants in Nigeria, and most of them are using point-of-sale terminals that support the NFC payment feature.”
“With regard to our users, we have solid alliances with a few different cell phone manufacturers to push for the integration of our application features into their devices.
“Due to their natural and intimate integration with mobile wallets, QR Codes can drastically lower the cost of terminals. They are more complicated for NFC. Payment is more secure and fast.”
