How to Update Your NIN/BVN on PalmPay
Posted by: Smart || Categories: Guides
Fintech provider PalmPay is urging customers who have not yet complied with the requirements to do so right away in response to the Central Bank of Nigeria’s (CBN) decision to improve Know Your Customer (KYC) procedures for Tier 1 accounts.
Following the directive’s release in December of last year, PalmPay introduced a new onboarding flow on the app that requires all Tier 1 users to verify their BVN or NIN.
The user won’t be able to finish registering on the wallet if they don’t do this.
The BVN or NIN of every current user must also be verified as follows:
- By January 31, 2024, current users who have previously validated their BVN or NIN must revalidate their KYC data.
- By March 31, 2024, current users who have not yet verified their BVN or NIN must do so.
Wallets that are in default by January 31 and March 31, 2024, respectively, will be frozen.
The managing director of PalmPay Nigeria, Chika Nwosu, states that the company is dedicated to contributing to the development of a safe financial environment. To guarantee a seamless continuation of service for their wallets, we kindly ask all PalmPay users to update their KYC information on the app as soon as possible.
Users who authenticate their information ahead of time and receive an incentive payment of up to N500 will receive a reward from the company. Moreover, support activities have been strengthened to better assist clients during the transition.
Customers of PalmPay can get in touch with customer service by email at support@palmpay.com, by phone at 01-8886888, or in person at any one of the fintech’s 36 state offices located throughout Nigeria. You can find the addresses for these locations at https://h5.palmpay.app/lego-h5/index?id=marketing-activities/agent-service-office.
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