PalmPay POS Operators Urged to Register or Submit their CAC Certificate to Prevent Account Freezing

Following CAC’s Directive for POS operators to register and submit their CAC details on or before July 7, 2024, PalmPay is encouraging its Business users who have not yet complied with the directive to do so promptly.

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, Umuteme Enakeno, Head of Marketing and Communication at PalmPay, stated: “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.”

Important Steps to Follow:

1. Register Your Business via the PalmPay Business App: Ensure that all necessary documents and information are provided accurately before submitting your application.

2 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.