AfriGO, Nigeria’s national domestic card scheme, has announced a strategic partnership with fintech giant PalmPay to issue over five million AfriGO payment cards. This initiative aims to deepen financial inclusion, particularly among underserved communities, and reinforce Nigeria’s position as a leader in digital transactions.
This latest collaboration comes on the heels of a similar partnership between AfriGO and Moniepoint, another fintech powerhouse, which is also set to distribute five million AfriGO payment cards across the country. With both partnerships combined, AfriGO is poised to issue a total of 10 million new contactless cards, significantly expanding Nigeria’s digital payment infrastructure.
Strengthening Nigeria’s Digital Payment Landscape
AfriGO, launched by the Central Bank of Nigeria (CBN) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), was designed to provide a cost-effective and locally managed alternative to foreign card schemes. Unlike international payment cards, AfriGO transactions are settled entirely in naira, eliminating foreign exchange risks and lowering transaction costs for banks, merchants, and consumers alike.
Through its latest partnership with PalmPay, AfriGO is taking another step toward making secure, affordable, and accessible financial solutions available to millions of Nigerians. PalmPay’s Managing Director, Chika Nwosu, emphasized that this collaboration is a crucial milestone in making financial services more inclusive.
“At PalmPay, we are committed to creating financial solutions that are not only innovative but also inclusive. Partnering with AfriGO allows us to deliver secure, cost-effective, and localized payment options that empower Nigerians and strengthen the digital economy,” Nwosu said.
Enhancing Convenience for Merchants and Consumers
AfriGO’s payment cards offer a seamless transaction experience for both merchants and consumers. Users can conduct various financial activities, including in-store and online purchases, ATM withdrawals, fund transfers, and cashless payments through Agent POS terminals. Additionally, the AfriGO Instant Settlement feature ensures that merchants and agents receive payments immediately after transactions, improving cash flow and minimizing financial risks.
Ebehijie Momoh, Managing Director/CEO of Afrigopay Financial Services Limited (AFSL), highlighted that the partnership with PalmPay will significantly enhance digital payment access and support the growth of Nigeria’s digital economy.
“We are excited to partner with PalmPay to revolutionize financial services and expand access to digital payments across Nigeria. Through this collaboration, AfriGO and PalmPay will provide enhanced access to digital payments—particularly in underserved areas—drive financial inclusion, and support the rapidly growing digital economy in Nigeria,” Momoh stated.
Building a Future of Seamless Digital Transactions
AfriGO’s growing presence in the Nigerian fintech space aligns with global payment trends, where tap-to-pay and contactless transactions have become the norm. By partnering with both PalmPay and Moniepoint to roll out a combined total of 10 million contactless payment cards, AfriGO is helping to shift Nigeria away from cash-dependent transactions and toward a more seamless digital economy.
With Nigeria’s federal government and fintech leaders championing digital payments, these initiatives mark a significant leap forward in financial inclusion and economic empowerment. The continued expansion of AfriGO’s reach signals a promising future for Nigeria’s digital financial ecosystem, with more consumers and businesses set to benefit from secure, efficient, and cost-effective payment solutions.
