Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 2 companies across 4 categories.
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PalmPay launched in 2019 as a mobile payments wallet for Nigeria, backed by Transsion (Tecno phones) and NetEase. Over six years it evolved into a full-stack digital neobank across Nigeria, Ghana, Kenya, Uganda, and Tanzania, with expansion into Pakistan, Bangladesh, and the UK. The company is now diversifying beyond P2P transfers and bill payments into embedded insurance (AXA Mansard), credit (Flexi Cash loans), Verve-branded debit cards, and merchant services — positioning itself as one of Nigeria's 'big four' fintechs alongside Moniepoint, Kuda, and Opay.
Other PSP providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
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<img src="https://www.embeddedfinanceindex.com/api/badge/palmpay/install" width="1" height="1" alt="" style="display:none">2 companies disclose PalmPay in their stack in the Embedded Finance Index 2026, including Transsnet Financial and PALMPAY HR.
PalmPay is an embedded-finance provider in PSP, Lending, Card Issuing and BaaS. It ranks #308 of 538 PSP providers by disclosed buyers.
The most-disclosed PSP alternatives to PalmPay are Stripe (782 buyers), Adyen (278 buyers), PayPal (153 buyers), Checkout.com (113 buyers), Worldpay (89 buyers) and Mollie (64 buyers).
PalmPay is founded in 2019 and headquartered in Lagos, Nigeria (UK-headquartered parent).
PalmPay has raised ~$140M (pre-Series B) in total.
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