PalmPay has encouraged its Business users, who are, especially, PoS operators, to register and submit their CAC details on or before July 7, 2024, to avoid freezing of their accounts.
This directive follows Section 863 (1) of the Companies and Allied Matters Act (CAMA) 2020 and the 2013 CBN guidelines on Agent Banking.
Speaking on this directive, Head of Marketing and Communication at PalmPay, Umuteme Enakeno stated that: “PalmPay fully supports the CAC’s directive. To provide a seamless experience for our customers, we have integrated the registration portal with our Business App. In cases where the customers need support, we provide 24/7 customer support to our operators and also conduct weekly meetings to guide them on the process.”
Urging them to register their business via the PalmPay Business App and ensure that all necessary documents and information are provided accurately before submitting your application, he added that, “Update Your PalmPay Account Once you get the certificate, update your business details in your PalmPay account to reflect your new corporate status.
“As always, PalmPay is committed to doing our part to foster a secure financial ecosystem. We urge all PalmPay Business customers to submit or register their CAC before the deadline. Failure to do so means that the account would be frozen.”
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