Scheduled for Friday, April 24, 2026, at the OrientalHotel, the high-level gathering will convene over 600 industry professionals and more than 20 expert speakers from banking, fintech, telecommunications, and regulatory institutions.

With a central focus on emerging trends shaping digital finance, PAFON 3.0 will serve as a critical platform for collaboration on the future of digital payments, cybersecurity, and the transformative role of Artificial Intelligence (AI) in financial services.

As Nigeria continues to lead Africa’s digital payments evolution, this year’s forum will emphasize building a sustainable and inclusive financial ecosystem.

A highlight of the event is the flagship session themed “Fair Digital Payments as a Catalyst for Deepening Financial Inclusion in Nigeria,” which will explore how technology can expand access to financial services for millions of underserved Nigerians.

Speaking on the significance of the sponsorships, Chike Onwuegbuchi, co-convener of PAFON and chairman of the Nigeria Information Technology Reporters’ Association, said:

“The support from PalmPay and TeamApt underscores the growing importance of collaborative action in shaping Nigeria’s digital payments future. These are organisations at the forefront of innovation and inclusion, and their involvement reinforces PAFON’s mission to drive a fair, accessible, and technology-driven ecosystem.”

“PAFON 3.0 is designed as a policy-industry convergence point. Having leading players like PalmPay and TeamApt on board strengthens the quality of conversations and outcomes we expect from this year’s forum,” he added.

PalmPay is one of Africa’s leading mobile financial services platforms, providing millions of users with seamless access to payments, transfers, savings, and other digital financial solutions. With a strong footprint in Nigeria, PalmPay has played a key role in advancing financial inclusion through user-friendly and accessible mobile technology.

TeamApt, a prominent Nigerian fintech company, is widely recognized for building robust financial infrastructure that powers digital banking and payment services across the country. Through its innovative solutions for businesses, agents, and financial institutions, TeamApt continues to drive efficiency and scale within Nigeria’s payments ecosystem.

Key Highlights of PAFON 3.0 Include:

• Thought Leadership Panels: Discussions on AI, digital commerce, and regulatory evolution
• Regulator Engagement: Participation from agencies including the Central Bank of Nigeria and Nigerian Communications Commission
• Exhibition & Demos: Showcasing new fintech and banking innovations
• B2B Networking: Strategic partnership opportunities across the payments value chain

PAFON 3.0 will feature keynotes from Prof. Adewale Peter Obadare, founder/CVO of Digital Encode Limited, and Dr. Jameelah Sharrieff-Ayedun, Vice President of the Governing Council of the Fintech Association of Nigeria, and CEO, CreditRegistry.

Other Confirmed Speakers include, Mr. Chika Nwosu, manaing director, PalmPay (Nigeria), Mr. Dennis Ajalie, Chief Executive Officer, TeamApt;  Uche Uzoebo, MD/CEO, Shared Agent Network Expansion Facilities (SANEF Limited): Special Guest of Honour; Mojeed Abayomi Agboola, National President, Financial Inclusion Agents Multipurpose Cooperative Society (FIAMCS); Dr. Obioha Otti, National President, Association of Mobile Money and Bank Agents in Nigeria (AMMBAN); Ibirogba Oluwagunwa, Chairman Lagos Chapter of AMMBAN; Chukwuemeka Enoch, Founder, Lagos Blockchain Week, and Sarafadeen Fasasi, National President, Association of Financial Inclusion Agents of Nigeria (AFiAN), amongst others.

How to participate:

Participation at PAFON 3.0 is free, however, pre-registration is now open to industry stakeholders, tech enthusiasts, and media …here

About Payments Forum Nigeria (PAFON)

Payments Forum Nigeria is Nigeria’s premier industry platform convening banks, fintechs, regulators, telcos, and global partners to shape the future of digital payments. Through its annual forums, PAFON drives conversations on policy, innovation, and financial inclusion to strengthen Nigeria’s position in the global digital economy.

Valentine’s Day is more than grand gestures; it’s built on the small, meaningful actions that shape relationships, sending timely support, saving together, or managing shared responsibilities. PalmPay encourages users to share 30–60 second real-life stories, either solo or duet style, showing how PalmPay always works and has helped them support or stay connected with someone they love.

The campaign runs from February 9th to 21st across Facebook, Instagram, X (formerly Twitter), and TikTok. Four winners will receive ₦100,000 each week for two weeks, totalling a prize pool of ₦800,000.

Entries can take many forms, including couple videos, solo stories, split-screen duets for long-distance couples, or voiceover narratives with photos or clips, making the campaign inclusive for married couples, parents, and long-term partners.

How to Participate:

• Share an authentic love story about your partner
• Clearly show PalmPay in action (transfers, savings, or other in-app activities)
• Be creative and emotionally engaging
• Post between February 9th – 21st with the hashtag #LoveWithPalmPay
• Share on any of PalmPay’s social media platforms

“Love evolves, and so do relationships,” said Olorunfemi Hanson, Head of Marketing and Communication, PalmPay. “From dating to parenthood, the small money moments we share every day play a big role in keeping us connected. With #LoveWithPalmPay, we want to celebrate those stories and show how PalmPay always works, making everyday love simpler, reliable, and meaningful.”

This Valentine’s Day, PalmPay celebrates love as it truly is real, intentional, and built on shared moments.

PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.

PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.

Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users and processes up to 15 million transactions daily. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh. For more information, visit www.palmpay.com

The announcement was made by Yemi Solaja, director of the Other Financial Institutions Supervision Department (OFISD) at the CBN, during the annual Conference of the Committee of Heads of Banks’ Operations (CHBOs) in Lagos.

Under the new licences, operators such as Moniepoint Microfinance Bank, OPay, Kuda Bank, Palmpay and Paga are now authorised to operate legally across all 36 states and the Federal Capital Territory, reflecting the nationwide scale they have already achieved through digital channels and extensive agent networks.

Closing the Regulatory Gap

The licence upgrades address a growing mismatch between earlier geographic licence tiers and the actual operations of fintech platforms that have organically expanded far beyond regional limits.

Solaja underscored that the transition to national status is conditional, granted only after firms satisfy regulatory benchmarks around governance, compliance, capital adequacy, and operational robustness.

The CBN’s move is part of a broader effort to strengthen oversight of digital finance while supporting financial inclusion and the country’s ongoing shift toward a cashless economy.

What it Means for Fintechs and Users

With national licences, affected fintechs and MFBs are now subject to stricter regulatory standards, including:

• Higher capital requirements: National MFBs must now maintain a minimum capital base of around ₦5 billion, up from the previous ₦2 billion threshold.
• Enhanced compliance and reporting obligations, aimed at boosting customer protection and systemic stability.
• Mandated physical service points in key locations, despite predominantly digital operations, to ensure support and dispute resolution for customers,  particularly those in the informal sector.

The CBN also sees the licensing alignment as a way to close gaps in regulatory oversight and bring digitally led financial services within a framework that matches their economic impact and social reach.

Industry Response

Analysts and sector participants have welcomed the upgrade as a positive regulatory calibration that recognises the maturity of Nigeria’s fintech ecosystem while promoting safer, more resilient financial services.

By aligning licences with operational realities, the CBN aims to support sustainable growth, deepen consumer trust, and ensure that innovation moves in lockstep with prudential safeguards.

For Happiness, a young Nigerian entrepreneur, the answer manifested in the most defining moments of her life.

Trust Built Through Everyday Use

In 2025, Happiness relied on PalmPay to run her business, from receiving customer payments, paying vendors, and managing daily transactions.

During PalmPay’s Hustle Grant Campaign, she joined thousands of small business owners hoping to win the N500,000 funding.

While she didn’t make the shortlist, the campaign gave her business something just as valuable: visibility. New customers discovered her brand, enquiries increased, and sales followed.

PalmPay didn’t just host a campaign; it created an ecosystem where small businesses could be seen and supported.

Just days later, Happiness’ life changed. On August 30, 2025, she lost her father. With this loss came challenges, especially payments.

They tried transferring money through regular banks but were met with declined transactions. Happiness suggested using her PalmPay account and it was successful.

In a moment defined by loss and urgency, PalmPay cut through the chaos, proving that reliability isn’t a feature, it’s a lifeline.

Happiness’ relationship with PalmPay didn’t stop at transactions. Through other management tools on the app, she learned to build discipline around her finances.

More Than an App, a Financial Partner

Beyond transactions, PalmPay’s tools helped Happiness build better money habits and financial discipline. Today, the brand continues to reward reliability through initiatives like its ongoing Premier Cool campaign, reinforcing a simple message: consistency should come with value.

The idea is simple: Purchase a bar of soap and stand a chance to get ₦10,000cash and other cash benefits.

It’s PalmPay’s way of saying that smart money habits deserve real value in return.

Why PalmPay Earns Trust

Life doesn’t give warnings before it tests you. When it does, you need a platform that doesn’t just usually work but always works.

For many users, PalmPay proves to be more than a payment app. It is a trusted partner powering ambitions, supporting users through defining life moments, while helping them bank smartly.

When it mattered most, PalmPay worked.

To watch the full testimonial visit: @palmpayapp_ng

Here are the key consumer spending trends to watch in 2026:

1. Digital Payments and eCommerce Boom

Young Nigerians are driving the move away from cash. Digital payments and online shopping are now part of daily lives, powered by fintech platforms such as Opay, Moniepoint, PalmPay and eCommerce companies like Jumia.

Transactions are faster, more convenient and better trusted.

This transition is most obvious in urban centres, where mobile wallets, agent banking and QR payments are replacing cash for everything from groceries to transport fares.

The informal economy in Nigeria, which accounts for more than half of economic activity, has also taken up digital finance, enhanced by factors such as improved mobile access and the 2023 cash shortage.

Financial inclusion has expanded steadily, growing from about 54% in 2020 to 64% by 2023, mainly due to digital channels. With payments becoming seamless, spending behaviour changes with it.

Consumers are more likely to shop online, pay bills instantly, and make impulse purchases, especially in categories such as fashion, gadgets and food delivery.

Regulators, particularly the Central Bank of Nigeria (CBN), continually focus on system security and fraud reduction, while consumers push demand through convenience.

Nigeria’s population size gives this trend more scale, setting it apart from similar digital adoption seen in markets like South Africa.

2. Health and Wellness Take Priority

Health and wellness spending is growing as Nigerians adopt a more preventive mindset. Families and individuals are paying closer attention to what they eat, how they exercise, and the products they consume.

Demand for organic foods, gym memberships, supplements and healthier snacks is growing, particularly in cities.

Consumers check food labels more closely, opting for reduced-sugar drinks, plant-based options and healthier ingredient lists.

Social media has been top-notch here, with fitness creators, nutrition advocates and lifestyle influencers impacting preferences and awareness.

On the policy side, government spending on healthcare has increased. The 2025 health budget rose significantly, and allocations to the Basic Health Care Provision Fund are projected to grow further in 2026.

However, healthcare workers still complain about infrastructure gaps and unpaid salaries, as well as implementation which lags behind policy announcements.

Even so, easing inflation could free up household budgets for preventive healthcare, supporting steady growth in wellness-related spending through the year.

3. Value-Driven and Price-Sensitive Buying

Consumers in Nigeria are becoming more deliberate about what they buy. Rather than volume or advertisement, many now prioritise quality, durability and brand trust, even when it comes at a higher price.

With supermarkets, convenience stores and organised retail expanding, shoppers are comparing products more carefully. Young professionals and families, in particular, are weighing long-term value against upfront cost when choosing electronics, clothing and household items.

Social media is important here. Most Nigerians now discover brands online, and influencers on platforms such as Instagram and TikTok impact perceptions through reviews, demonstrations and personal endorsements. This has pushed brands to focus more on product quality and credibility.

The result is a more sustainable spending pattern, with fewer disposable purchases and greater emphasis on products that last.

The Bigger Market Context

In 2026, the consumer market reveals a different African trend, where digital innovation fills gaps left by traditional systems. With over 70% of the population under 35, the country’s youth keeps driving adoption across mobile banking, online retail and digital services.

Recent economic reforms, including initiatives to stabilise the naira and manage inflation, are beginning to ease pressure on households. Inflation is projected to trend downward, while growth in non-oil sectors such as services, agriculture and trade is supporting gradual recovery in consumer confidence.

Fintech is indispensable to this transformation, extending financial services beyond urban centres and bringing more Nigerians into the formal economy.

This pattern shows the impact of platforms like M-Pesa in East Africa, adapted to Nigeria’s larger and more complex market.

While the cost of living is still high due to fiscal adjustments and import pressures, the overall outlook points to a more structured, tech-enabled consumer economy.

What to Watch Through 2026

Several indicators will impact how these trends evolve:

• Inflation and cost of living: Always track monthly headline inflation via CBN reports; if it goes below 13%, expect freer spending on non-essentials like health or wellness products.
• Digital adoption: Growth in mobile wallets and fintech users will show stronger e-commerce activity.
• Sector performance: Pay attention to health and retail figures from industry reports; increase in organic food sales or quality brand revenues highlight consumer changes.
• FX stability and remittances: A steadier naira could reduce import expenses and support consumption.
• Youth engagement online: Higher influencer engagement usually results in quality-focused purchases.
• Regulatory signals: CBN policies will continue to affect fintech growth and consumer trust.

Conclusion

The year 2026 will be a year of smart, tech-focused spending for Nigerians, where digital tools and quality choices will help manage economic realities.

With economic growth on the rise and inflation rates reducing, these trends come with opportunities for consumers to be more flexible in spending and for businesses to innovate.

Embracing them means building a more inclusive economy.

Since the campaign, themed “Shop Smart, Earn Big!”, began, shoppers have been rewarded with cashback on their purchases by shopping on Jumia and paying with PalmPay.

With the campaign in its last week, more customers are to be rewarded by spending between ₦5,000 and ₦20,000 to receive ₦1,000 cashback, while those who spend ₦20,000 or more will receive ₦2,000 cashback.

This exclusive offer is open to the first 300 shoppers each day, running every Wednesday to Friday until December 1st, 2025.

How to Participate:

1. Visit Jumia and add your favourite items to your cart.
2. At checkout, select PalmPay as your payment method.
3. Complete your payment and enjoy instant cashback directly into your PalmPay account.

It began like any other day, engineers in quiet rooms, dashboards glowing, and lines of code waiting to come alive. But behind the scenes, something historic was unfolding.

In a groundbreaking moment for Nigeria’s digital economy, PalmPay, working hand-in-hand with Wema Bank, executed the very first live transaction on the Nigeria Inter-bank Settlement System’s new National Payment Stack (NPS), an advanced infrastructure designed to transform how money flows across the country.

This wasn’t just a technical milestone; it was a symbolic one. It marked the beginning of a future where payments move faster, smarter, and more securely, powered by homegrown innovation and collaboration.

With this achievement, PalmPay once again affirmed its role not just as a participant in Nigeria’s payment revolution but as one of the key architects shaping its next era.

The first live transaction, which happened at exactly 11:56 am on Friday, November 7, 2025, marks a new era in Nigeria’s financial innovation journey and reinforces PalmPay’s role as a trusted pioneer in the payment ecosystem.

This achievement rides on the back of the brand’s growing reputation as a fintech innovator, following recent global recognitions as Financial Times Africa’s Fastest-Growing Companies 2025 and CNBC and Statista’s Top 300 Global Fintech Companies for two consecutive years (2024 and 2025) for its impact, scale, and commitment to inclusive growth across emerging markets.

A Milestone that Redefines the Future of Payments

The National Payment Stack (NPS), powered by NIBSS, builds on the success of the NIP infrastructure, introducing greater speed, interoperability and real-time settlement across the financial ecosystem. Designed to meet international standards, NPS enhances cross-border payment capabilities while introducing more advanced security features, including digital signatures and multi-factor authentication to safeguard users and institutions.

Beyond its technical advancements, the National Payment Stack (NPS) sets a new

benchmark for Nigeria’s leadership in Africa’s finance landscape. Through the ISO 20022 global messaging standards, Nigeria is now positioned as a regional hub for seamless and secure cross-border transactions.

Commenting on the landmark achievement, Premier Oiwoh, the managing director/chief executive officer of the NIBSS, said:

“We commend PalmPay for this historic achievement as one of the key collaborators in executing the first successful transaction on the National Payment Stack (NPS). This milestone reflects our shared commitment to advancing a faster, safer and more interoperable payment ecosystem for Nigeria. The NPS represents the next frontier of innovation designed to power inclusion, efficiency and growth across the financial industry. We look forward to more institutions coming on board as we collectively shape the future of payments in Nigeria and across Africa.”

Also speaking, Jaipei Yan, group chief commercial officer at PalmPay, stated,

“This achievement is a win for Nigeria and Nigerians. PalmPay is all about providing smarter banking solutions. Since our launch six years ago, we have focused on bridging the gap between innovation and everyday financial inclusion. It was an absolute delight to work with NIBSS and other stakeholders on this remarkable milestone.”

By pioneering this milestone, PalmPay not only strengthens its credibility but also reinforces its alignment with the Central Bank of Nigeria’s drive toward a digital, connected economy.

From ranking among the world’s leading fintech brands to executing Nigeria’s first live transaction on a national payment infrastructure, PalmPay is proving that innovation, when purpose-driven, can transform economies.

Looking ahead, PalmPay aims to accelerate its vision of a connected, digital, and financially inclusive Africa, combining global standards with local relevance to build technology that truly empowers people and businesses.

Held on Tuesday, November 11, 2025, at the Federal Palace Hotel, Victoria Island, Lagos, the event, themed “United Frontiers: Growth Powered by Innovation, Collaboration, and Compliance,” brought together regulators, fintech leaders, bankers, and innovators to discuss how Africa can balance innovation with compliance to ensure inclusive growth.

Speakers included Musa Jimoh, director of Payment Systems at the Central Bank of Nigeria (CBN); Chika Nwosu, managing director of PalmPay; Vincent Ogbunude, CEO of Verve International; and Akeem Lawal, managing director, Interswitch Purepay.

Speaking at the event, Cherry Eromosele, executive vice president, Marketing and Corporate Communications at Interswitch, said the TechConnect series has evolved into a platform for enabling inclusion, aligning regulation with innovation, and strengthening collaboration across the ecosystem.

On Interswitch’s newest innovations, Vincent Ogbunude unveiled cutting-edge solutions such as tokenisation, digital card storage, tap-to-pay transactions, and cross-border interoperability designed to unify Africa’s fragmented payment landscape.

“Interswitch has already crossed the 100 million-card milestone in Nigeria. But we know the future is digital. We’re now enabling users to digitise their cards, store them on mobile devices, and make secure tap-to-pay transactions,” he said.

Ogbunude added that over 40 million Verve cards with contactless functionality have already been rolled out across markets including Nigeria, Ghana, Kenya, and Côte d’Ivoire, an achievement that will speed up the continent’s transition to seamless payments.

In his comments, Akeem Lawal noted that compliance is indispensable when it comes to innovation:

“You cannot build sustainable innovation without compliance. It is the foundation of trust, customer experience, and long-term growth. Many see compliance as a checklist; we see it as guardrails that make innovation sustainable,” he said.

The event concluded with awards recognising partners including FirstBank, Zenith Bank, UBA, GTBank, PalmPay, Moniepoint, OneAfriq, Fincra, and others for their contributions to enhancing the payments ecosystem.

The awards presentation session for “Outstanding Performance” was led by the VP, Sales & Account Management, Interswitch Systegra, Robinta Aliyu, and the VP, Business Development, Interswitch Purepay, Etitayo Awe.

So, if you’ve ever wondered how best you can use your PalmPay app, here are five smart ways people are using it to make everyday life easier and more rewarding.

1. Sending Money Without Charges

A typical Nigerian carries out dozens of transactions weekly, and those bank charges can quietly add up over time. With PalmPay, users enjoy unlimited free transfers to any bank, and transactions are instant. You can send and receive funds to any bank account or PalmPay wallet in seconds; no delays, no hidden fees.

Smart tip: Once you type the first few digits of an account number, PalmPay automatically suggests the recipient, saving you time and making future transfers even faster.

2. Reliable Transfers, Always

PalmPay users enjoy fast, dependable transfers thanks to the platform’s 99.9% transaction success rate powered by its own payment infrastructure. It’s smooth, reliable, and eliminates the classic “Oya refresh your app” moment we all know too well.

Smart tip: PalmPay notifies you of the recipient’s network status before completing a transfer which helps users avoid failed transactions.

3. Paying Bills Without Stress

From electricity and data to cable TV and other essential bills, PalmPay makes payments simple. Everything you need is right there in one app, no queues or multiple logins. And the best part? You earn cashback and PalmPoints every time you pay.

Smart tip: Get up to 3% cashback on certain bill payments and transactions. Check the app for ongoing promos.

4. Saving More

PalmPay isn’t just for spending, it’s built for building wealth too. With multiple savings products like CashBox, Spend and Save, Target Savings, and Fixed Savings, users can set money aside automatically and earn up to 20% interest annually.

Whether you’re saving for rent, a trip, or to grow your business, PalmPay helps you stay consistent and intentional.

Smart tip: Name your savings goals “House Rent” or “Emergency Fund” to stay motivated.

5. Getting Rewarded for Everyday Transactions

Who says banking has to be boring? PalmPay gives users rewards through cashback and PalmPoints for everyday actions like buying airtime, paying bills, and referring friends. It’s simple; the more you use it, the more you earn.

Smart tip: Check the app to track your PalmPoints, trial cash, and other reward offers.

The Smarter Way to Bank

PalmPay is licensed by the CBN and insured by NDIC, so users’ money stays protected. With features like night guard, transaction guard, PIN, and fraud monitoring, users enjoy secure and stress-free banking.

From students to business owners, more Nigerians are choosing PalmPay for fast, secure, and rewarding transactions, just the way banking should be.

The prestigious event, held at the Banquet Hall of the Presidential Villa in Abuja, celebrated organisations and individuals driving digital transformation, innovation, and good governance through technology in Nigeria.

Receiving the award, Chika Reginald Nwosu, Managing Director of PalmPay Limited, expressed gratitude for the recognition and reaffirmed the company’s commitment to leveraging technology to enhance financial inclusion and support Nigeria’s digital economy agenda.

“This award reflects our dedication to creating inclusive, secure, and innovative financial solutions for Nigerians,” said Nwosu. “We remain committed to supporting the government’s digital transformation drive and empowering individuals and businesses through accessible fintech innovation.”

The Nigeria GovTech Awards, organised annually by the BPSR, recognise outstanding achievements in public and private sector innovation, highlighting the crucial role of technology in governance and development.

PalmPay’s recognition as the Digital Governance Company of the Year (Fintech Innovation) reinforces its position as a trusted digital finance platform driving growth, transparency, and innovation across Nigeria’s fintech ecosystem.

PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.

PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.