• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, August 26, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

PalmPay Launches Wallet Safe Workshop to Improve Payment Security Awareness

August 19, 2022
Stephen M.Cby Stephen M.C
in Africa
0
PalmPay Launches Wallet Safe Workshop to Improve Payment Security Awareness

PalmPay, a fintech innovator, has announced the launch of Wallet Safe Workshop, a monthly campaign for payment security awareness training, to help customers improve their overall security knowledge, and learn about how to spot and avoid e-scammers.

The penetration of the internet and digital payment in Africa has significantly increased in recent years. A number of potential issues, including fake news, leakage of personal information and financial scams, have emerged as a result of this rapid expansion in connectivity.

According to the NIBSS (Nigeria Inter-Bank Settlement System) report, the total number of fraud attempts in Nigeria grew by 186% from 2019 to 2020. Mobile fraud attempts jumped 330% year over year, while web and POS fraud attempts rose 173% and 215% respectively.  It has become a top priority for financial institutions to guarantee the security of user transactions.

RelatedPosts

Armed Raid Kills Villagers Near Burkina Faso Border

Sudan’s Displacement Numbers Fall Amid Fierce Fighting

Botswana Declares Health Emergency Amid Drug Shortages

With the launch of the Wallet Safe Workshop, PalmPay will use both online and offline channels, including the app, social media, official websites, and printed materials, to publicize and expose examples of social media and telecom fraud, as well as how to spot fraudulent behavior.

56319c52128de29

In particular, the company will improve anti-fraud warning education for vulnerable groups such as students and senior citizens, and promote legal provisions related to the proper use of mobile wallet accounts, to effectively raise people’s awareness of combating and managing telecom fraud and cybersecurity.

“The expanding use of digital payments brings new risk and security concerns. PalmPay committed to delivering users with a secure and trustworthy digital payment experience. We will continue to optimise our risk control procedures, and look forward to collaborating with law enforcement and cybersecurity partners to prevent fraud and ensure payment security”.

Chika Nwosu, Managing Director of PalmPay

Robust anti-fraud and KYC systems

PalmPay noted in a statement that keeping users safe from fraudsters is not an easy task as such, the right fraud monitoring and know your customer (KYC) approaches are key to overcoming the current rise in fraud attempts.

With robust anti-fraud and KYC systems, PalmPay protects the users from fraud and unauthorized use with various protective measures, including real-time risk control and abnormal behaviour detection, which automatically monitors, flags, and freezes high-risk transactions and accounts.

418

PalmPay stated that if a person suspects that they or someone else has been a victim of fraudulent activities, they should contact its customer service via in-app chat, email, social media, or call centre. PalmPay will investigate and freeze accounts to avoid additional loss due to fraudulent activities and to maximise the chances of tracing and retrieving funds, it added.

PalmPay is a fintech innovator that aims to make digital payment more accessible and flexible for consumers and merchants. It improves users’ digital payment experiences by offering instant financial account creation, money transfers, and bill payments.

Since launching in 2019, PalmPay has quickly established itself as one of the continent’s leading and fastest-growing payment providers.

PalmPay raised a US$100 million Series A round of funding in August 2021, with US$140 million raised in total. The company is now operating in Nigeria and Ghana, and will be scaling its proposition in other African markets in 2022.

READ ALSO: Laws Supposed To Ensure Mining Is Done In Sustainable Manner Is Compromised- Bawa

Tags: ghanaNIBSSNigeriaPalmPaySecurity AwarenessWallet Safe Workshop
Please login to join discussion
Previous Post

Laws Supposed To Ensure Mining Is Done In Sustainable Manner Is Compromised- Bawa

Next Post

Standard Bank Iterates Commitment to the Growth and Development of Africa

[mc4wp_form id="1264"]

Related Posts

Benjamin Quashie
General News

High Commissioner Eyes Return of South African Retail Giants, Ambassadors to Face KPIs

August 26, 2025
UK Borrowing Costs Hit 27-Year High
UK

UK Borrowing Costs Hit 27-Year High

August 26, 2025
Trump Rebuffs Putin’s Offer To Aid Israel-Iran Conflict Mediation
USA

Trump’s Lawsuit Against Maryland Federal Court System Rejected

August 26, 2025
ACEP Calls for Bold Financing Models to Tackle Africa’s Energy Access Crisis 
Extractives/Energy

ACEP Calls for Bold Financing Models to Tackle Africa’s Energy Access Crisis 

August 26, 2025
ADB Honors National Best Farmer 2024 with GH¢1m Cash Prize
Agribusiness

ADB Honors National Best Farmer 2024 with GH¢1m Cash Prize

August 26, 2025
UN Decries Deadly Israeli Strikes On Gaza Journalists
Around the Globe

UN Decries Deadly Israeli Strikes On Gaza Journalists

August 26, 2025
Benjamin Quashie
General News

High Commissioner Eyes Return of South African Retail Giants, Ambassadors to Face KPIs

by Silas Kafui AssemAugust 26, 2025
UK Borrowing Costs Hit 27-Year High
UK

UK Borrowing Costs Hit 27-Year High

by Lawrence AnkutseAugust 26, 2025
Trump Rebuffs Putin’s Offer To Aid Israel-Iran Conflict Mediation
USA

Trump’s Lawsuit Against Maryland Federal Court System Rejected

by Comfort AmpomaaAugust 26, 2025
ACEP Calls for Bold Financing Models to Tackle Africa’s Energy Access Crisis 
Extractives/Energy

ACEP Calls for Bold Financing Models to Tackle Africa’s Energy Access Crisis 

by Prince AgyapongAugust 26, 2025
ADB Honors National Best Farmer 2024 with GH¢1m Cash Prize
Agribusiness

ADB Honors National Best Farmer 2024 with GH¢1m Cash Prize

by Stephen M.CAugust 26, 2025
UN Decries Deadly Israeli Strikes On Gaza Journalists
Around the Globe

UN Decries Deadly Israeli Strikes On Gaza Journalists

by Lawrence AnkutseAugust 26, 2025
Benjamin Quashie
UK Borrowing Costs Hit 27-Year High
Trump Rebuffs Putin’s Offer To Aid Israel-Iran Conflict Mediation
ACEP Calls for Bold Financing Models to Tackle Africa’s Energy Access Crisis 
ADB Honors National Best Farmer 2024 with GH¢1m Cash Prize
UN Decries Deadly Israeli Strikes On Gaza Journalists
[/vc_row_inner]

Recent News

  • High Commissioner Eyes Return of South African Retail Giants, Ambassadors to Face KPIs
  • UK Borrowing Costs Hit 27-Year High
  • Trump’s Lawsuit Against Maryland Federal Court System Rejected
  • ACEP Calls for Bold Financing Models to Tackle Africa’s Energy Access Crisis 
  • ADB Honors National Best Farmer 2024 with GH¢1m Cash Prize
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.