Palmpay launches N100m Covid-19 support Fund, free money transfer package
One of Nigeria’s fastest-growing mobile payments companies, Palmpay, has announced the launch of PalmPay CARES, a N100 million humanitarian response plan to support the fight against the deadly Coronavirus in Nigeria.
According to the Fintech Company, the N100million support fund will be used to support relief organizations working to address the outbreak of the novel coronavirus in the country, as well as to fund the provision of an innovative COVID-19 cover for its entire customer base.
“We are proud to be launching this campaign to offer our support to our community of users and organizations on the front line of the response to the pandemic”, Greg Reeve, Global Palmpay CEO said.
As a result of the support fund, every transacting PalmPay customer can qualify for a N100,000 payout from Palmpay should they be diagnosed with COVID-19, the company said stating that the intention is to provide a financial cushion to its user base and while also helping Nigerians who are affected by the virus to get back on their feet.
“We want our customers to know that we are there for them through these uncertain times and that they can be a part of relief efforts too as we will add to the fund every time they transact on the Palmpay app,” Reeve said.
According to Palmpay, more money will be added to the fund every time a transaction is made on the app for the duration of the campaign, The Palmpaycares campaign is due to run for an initial month-long period.
Other key measures announced by the company that are designed to ease the financial burden on Nigerian consumers as they try to minimize their risk of exposure to the virus is the removal of money transfer charges from its service, making it free to transfer money from its wallet to other Palmpay users and to Nigerian bank accounts for any amount.
“Using digital payment methods is one of the ways people can protect themselves and others from the virus, which can attach itself to cash and other surfaces,” Palmpay CEO said adding that the aim of the company is to make financial transactions as easy and affordable as possible and offer Nigerians a rewarding way to make payments through its mobile app.