PalmPay Advocates Trust and AI for Payment Innovation

At the Digital Pay Expo 2026 held in Lagos from June 17-18, 2026, PalmPay's Managing Director, Chika Nwosu, called for enhanced trust, infrastructure, and responsible artificial intelligence (AI) to drive innovation in Nigeria's digital payment ecosystem. The event focused on the transformative role of AI, cybersecurity, and cross-border transactions to deepen financial inclusion across Africa.

Dr. Rekiya Yusuf, Director of the Payment System Supervisory Department at the Central Bank of Nigeria (CBN), highlighted the rapid evolution of Nigeria's payment ecosystem and the critical role of AI in real-time fraud detection and expanding access to underserved populations. Nwosu noted that micro, small, and medium enterprises (MSMEs) contribute approximately 40% to Nigeria's GDP, emphasizing the importance of reliable payment infrastructure to foster growth and innovation.

The discussions underscored the need for a robust ecosystem that supports financial inclusion and the development of digital literacy to build long-term trust within the payment ecosystem.