PalmPay Enhances User Security Against Digital Scams

PalmPay is actively working to enhance the security of its users in Nigeria amid increasing digital scams. Recent incidents shared online illustrate the risks, such as a user losing nearly N400,000 after entering card details on a fraudulent website posing as the FRSC.

Additionally, another user experienced unauthorized transactions after their mobile phone was stolen. Despite a 51% decrease in digital payment fraud losses to N25.85 billion in 2025, the NIBSS continues to identify social engineering as a major threat, with evolving fraud techniques like phishing and SIM-swap attacks.

In response, PalmPay's ‘PalmPay Dey For You’ campaign aims to educate customers on potential threats and promote security tools. Users can lock their accounts using the *861*12# USSD Lock if their phones are lost or stolen.

Other features include Night Guard, which requires extra verification for transactions during specific hours, and Large Transaction Shield for high-value transactions. Customers are advised to avoid sharing sensitive information and to be cautious with unexpected communications.