A fintech company, PalmPay, has expressed its commitment to driving adoption of a contactless payment system in Nigeria.
The Country Manager of PalmPay, Fey Wong, said this while discussing the theme, ‘The next frontier: Digital wallets, contactless payments and buy now pay later’, at the Zenith Tech Fair in Lagos.
Speaking at the fair tagged, ‘Future Forward 3.0’, Wong, also announced the listing of QR Code and NFC payments as two payment forms that would drive contactless payment in Nigeria in the future.
He said PalmPay was prepared for the two products and they both had their merits.
According to him, “At PalmPay, we have a unique advantage on both the user side and merchant side. On the merchant side, 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.”
“Regarding our users, we have strong partnerships with select mobile phone brands to advocate for the incorporation of our application features into their devices. QR Codes can reduce the cost of terminals significantly because they are naturally and closely integrated with mobile wallets. For NFC, they are more complex. However, payment is faster and more secure.”
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