PalmPay has been named Consumer-Friendly Business of the Year 2025 at the Lagos State Consumer Protection Agency’s (LASCOPA) annual Consumer Service Week and Awards Ceremony. The event took place on Tuesday, 30 September 2025, at Adeyemi Bero Hall, The Secretariat, Alausa, Ikeja, Lagos.

The ceremony, organised by LASCOPA, recognised organisations that have shown consistent dedication to protecting consumer rights and improving service delivery across sectors.

PalmPay received the award for its efforts in providing secure and accessible financial services to Nigerians. The company has continued to build trust with its users through transparent practices, safe payment systems, and reliable customer support.

Speaking on the recognition, Opara Onyinyechi, Senior Regulatory Compliance Specialist at PalmPay, said: “We are deeply honoured to receive the Consumer-Friendly Business of the Year Award from LASCOPA. This recognition reaffirms our commitment to putting our customers at the heart of everything we do. At PalmPay, we will continue to champion trust, accessibility, and innovation in financial services, ensuring that every user experiences safe and seamless banking.”

The Consumer Service Week and Awards form part of a global initiative that raises awareness about consumer protection and celebrates organisations that promote consumer welfare. LASCOPA’s recognition of PalmPay highlights the company’s role in advancing consumer confidence within Nigeria’s financial technology sector.

PalmPay operates as a digital banking platform designed to improve financial inclusion and support economic participation in underserved markets. Its range of products includes mobile payments, savings, and micro-insurance, available through its app and agent network.

Since launching in Nigeria in 2019 under a Mobile Money Operator licence, PalmPay has grown to serve over 35 million users and processes up to 15 million transactions each day. The company also has operations in Ghana, Tanzania, and Bangladesh, contributing to financial access and inclusion across multiple markets.

Chisom Michael is a data analyst (audience engagement) and writer at BusinessDay, with diverse experience in the media industry. He holds a BSc in Industrial Physics from Imo State University and an MEng in Computer Science and Technology from Liaoning Univerisity of Technology China. He specialises in listicle writing, profiles and leveraging his skills in audience engagement analysis and data-driven insights to create compelling content that resonates with readers.

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