Nigerian digital banking platform PalmPay is making a calculated bet that physical presence not just smartphone apps, holds the key to unlocking financial inclusion for millions of underserved Nigerians, as the fintech expands its nationwide office network amid tightening regulatory oversight.
Currently operating 28 physical offices in cities including Lagos, Abuja, Port Harcourt, Benin City, and Enugu, PalmPay says these local hubs are central to its mission of bringing financial services closer to communities that remain underserved by traditional banking. In 2025, PalmPay opened two additional offices in Lagos, situated in Ikeja and Yaba, further expanding its footprint in Nigeria’s commercial capital.
Managing Director Chika Nwosu said building physical infrastructure is critical to delivering financial services to more Nigerians. “Financial inclusion must be built on infrastructure,” he said during the launch of one of the company’s offices in Lagos, noting that the firm’s expanding office network helps improve service delivery and deepen access to financial tools nationwide.
The Yaba facility, located at 33 Old Yaba Road, is designed to accommodate PalmPay’s growing team, enabling closer cross-functional collaboration while strengthening service delivery nationwide. The office further anchors PalmPay within one of Lagos’s most established commercial and technology corridors.
ALSO READ: Parallex Bank surpasses N50bn capital benchmark as Nigeria’s banking recapitalisation drive nears deadline
The expansion strategy also carries a strong social dimension. The company said each new office generates employment opportunities while supporting local capacity-building initiatives. Through its Purple Woman initiative, PalmPay is increasing workforce participation by recruiting and training more women across its operational network. In 2025, the company conducted capacity-building programmes in Kano and Kaduna, reaching approximately 3,000 women with financial education and tools to strengthen their businesses.
Founded in Nigeria in 2019 under a mobile money operator licence, PalmPay has grown to more than 35 million app users and processes up to 15 million transactions daily. The company operates in Nigeria, Ghana, Tanzania, and Bangladesh, offering services including mobile payments, savings, and micro-insurance through its app and agent network.
PalmPay has signalled further ambitions for its ground infrastructure, with plans to open offices in each of Nigeria’s six geopolitical zones as part of a broader strategy to scale its reach into the country’s unbanked sectors — even as it already claims a presence across all 774 local government areas.
The push for physical infrastructure also aligns with a shifting regulatory landscape. The Central Bank of Nigeria has introduced several frameworks governing payment services and digital financial platforms as part of its wider strategy to build a safer and more resilient payments system. Industry analysts say the regulatory push is encouraging fintech firms to strengthen their operational presence beyond digital platforms, including physical offices and structured agent networks that allow regulators to better supervise activities and protect consumers.
For PalmPay, the message is clear: in a country where digital connectivity remains uneven and trust in financial institutions runs shallow in many communities, a strong physical footprint may prove just as important as the app on a customer’s phone.