Who owns PalmPay?
short answerPalmPay is a payment institution, not a bank. Customer money is safeguarded in segregated accounts at partner banks rather than held as insured deposits. PalmPay's most notable disclosed backers include Transsion and NetEase.
Is PalmPay a licensed bank?
No — it is a payment institution. Licence detail: Mobile money licence (NG).
Where is your money held?
Custody model: Custodial.
No sponsor bank or infrastructure provider is publicly documented for PalmPay yet. Know one? Suggest it.
Who's behind PalmPay?
PalmPay was founded by Transsion-backed team (2019), headquartered in Lagos, NG.
Early investors
Is my money safe with PalmPay?
As a payment institution, PalmPay safeguards funds in segregated accounts rather than insuring them as deposits. That protection works differently from a bank — money is generally not covered by deposit-guarantee schemes, though it must be ring-fenced from the company's own funds.
go deeperSee the full PalmPay profile with every verified field, or PalmPay alternatives. Raw fields: data.json.
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.