PalmPay has been named Digital Payments Platform of the Year at the 2026 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, in recognition of the company's contribution to the growth of digital payments and financial inclusion in Nigeria.

The BAFI Awards, organised by BusinessDay, recognise institutions across Nigeria's banking and wider financial services sector. The 2026 ceremony was held on October 9, 2026, at the Civic Center in Lagos, and the award was officially presented to PalmPay by Frank Aigbogun, publisher and co-founder of BusinessDay.

Since launching in Nigeria in 2019, PalmPay has built an inclusive digital financial services ecosystem that enables customers to make payments, settle bills, and access a range of other financial services through its platform. The company now serves more than 35 million users in Nigeria, supported by a broad network of merchants and agents that facilitates digital transactions across the country.

Commenting on the recognition, Chika Nwosu, Managing Director of PalmPay Nigeria, said the award reflects the company's commitment to building financial services around the everyday needs of Nigerians.

“We are honoured to receive the Digital Payments Platform of the Year award at the BAFI Awards. Digital payments have become an important part of how Nigerians manage their finances, run businesses and carry out everyday transactions. This award reflects our continued commitment to making financial services more accessible, reliable and secure for the millions of customers who use PalmPay every day,” Nwosu said.

He added: “As the industry continues to advance financial inclusion, our responsibility goes beyond enabling transactions. At PalmPay, we want to give customers the tools, information and support they need to use these services confidently and securely.”

PalmPay's emphasis on consumer protection is also reflected in its ongoing PalmPay Dey For You campaign, which educates customers about the platform's security features and encourages safer digital financial habits.

The timing of the recognition highlights the connection between security, trust and financial inclusion. As more Nigerians move their financial activities online, confidence in the safety of digital transactions is expected to become increasingly important to driving adoption. By strengthening customer protection alongside access and convenience, PalmPay can help create an environment in which more people feel confident participating in the digital economy.

PalmPay said it will continue to invest in technology, security and customer experience as it works to expand access to reliable financial services across Nigeria and its other markets. With more than 35 million users already on the platform, how those investments translate into day-to-day service for customers, merchants and agents will be the angle to follow as the company builds on the recognition.