PalmPay has strengthened its customer security measures as phishing, account compromise and other forms of digital fraud continue to pose risks to users of digital financial services.
The fintech company said it is using its ‘PalmPay Dey For You’ campaign to help customers identify potential threats and make better use of security tools available on its platform.
Scam calls, phishing messages and fake websites have become increasingly sophisticated, with fraudsters often impersonating trusted institutions and services.
According to the Nigeria Inter-Bank Settlement System (NIBSS), digital payment fraud losses in Nigeria fell by 51 per cent to N25.85 billion in 2025.
Despite the decline, social engineering remains a concern, with phishing, SIM-swap fraud and account compromise continuing to evolve.
PalmPay said customers whose phones are lost or stolen can use its 86112# USSD Lock to restrict access to their PalmPay accounts and reduce the risk of unauthorised transactions.
The fintech also offers Night Guard, which allows customers to set protection hours between 11:00pm and 7:00am. Transfers during the selected period require additional verification.
Its Large Transaction Shield also provides additional verification for large-value transactions.
PalmPay advised customers not to share sensitive information, including personal identification numbers (PINs), one-time passwords (OTPs) and passwords.
It also urged customers to be cautious when responding to unexpected messages and links, verify the identity of anyone contacting them and use available security controls when they suspect their accounts may be at risk.
The company said its upgraded PalmPay Security Centre brings its protection tools and secure support options together, giving customers greater control over their accounts.
PalmPay said the initiative is part of its commitment to providing secure, reliable and accessible financial services while strengthening customer awareness and protection against evolving digital threats.